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Pearce Buckle joins Capita Symonds after successful investment

Published: 18th June 2008

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From left to right - Roger Dyson, HLW Commercial Lawyers, Nigel Owens, SYIF, Richard Cherrill, Pearce Buckle, Kevin Hirst, Pearce Buckle, Paul Beastall, Pearce Buckle, Lisa Leighon, Ingram Forest Corporate Finance.

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From left to right - Paul Beastall, Pearce Buckle, Richard Cherrill, Pearce Buckle, Lisa Leighon, Ingram Forest Corporate Finance, Kevin Hirst, Pearce Buckle, Roger Dyson, HLW Commercial Lawyers and Nigel Owens, SYIF.

South Yorkshire Investment Fund (SYIF) has reacted with delight to the announcement that Capita Symonds has acquired Sheffield-based Pearce Buckle for an undisclosed sum.

Pearce Buckle is one of the UK’s leading building services engineering consultancies in the custodial and healthcare sectors.

Formed in 2000, Pearce Buckle was supported by SYIF with a £250k investment in 2002 to enable a management buy-out of the company by Kevin Hirst, Paul Bestall and Richard Cherrill.

Since the funding, Pearce Buckle has grown from strength to strength doubling staff numbers from 20 to 40 at its Sheffield Business Park site. The business will now be known as Capita Pearce Buckle and will work closely with Capita Symonds’ existing 100 strong office in Sheffield.

Nigel Owens, Portfolio Director at South Yorkshire Investment Fund: said "Pearce Buckle has grown significantly since our investment. Mark Hunter, the original investment manager and I are delighted that the company is now joining such a well respected organisation. The opportunities for the business will be even greater now it is part of such a wide ranging group and the transaction gives a successful exit for the Fund."

Kevin Hirst, Managing Director at Pearce Buckle, said "The funding and support that we received from South Yorkshire Investment Fund six years ago enabled the company to make a significant step forward."

He added: "We are delighted to be joining Capita Symonds. Our reputation and expertise has seen us develop a portfolio of high profile projects with a variety of clients. Being part of such a respected and diverse organisation will enable our team to input their expertise and develop their skills even further, working with other highly respected professionals on exciting projects across a broad range of sections."

Pearce Buckle was advised by Lisa Leighton and Stephen Ingram at Ingram Forrest Corporate Finance, the independent corporate finance arm of Barber Harrison and Platt, and by Roger Dyson and Rebecca Fells at hlw Commercial Lawyers LLP.

SYIF can provide seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377.

Editor's Notes

About South Yorkshire Investment Fund

South Yorkshire Investment Fund  provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.

South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.

Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.

For further details please contact Suzanne Tinkler,  on 0845 649 0000.

South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).