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Hygiene company gets a helping hand from SYIF

Published: 28th November 2008

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Pictured (left to right): David Ward of SYIF with Matt Haslam, Director at Hygequip Ltd

A Yorkshire-based hygiene company has been lent a helping hand with their expansion, thanks to a £50,000 investment from South Yorkshire Investment Fund (SYIF).

Hygequip Ltd supply hygiene equipment such as hand driers, insect control devices and soap dispensers to companies and distributors across Europe.

The company has recently relocated from Thorne to larger premises in Sheffield and have used the money from SYIF to help purchase extra stock to meet increasing demands.

Matt Haslam, Director at Hygequip Ltd said: "Hygequip is growing at a fast rate. Annual turnover has grown from zero to £3.2 million in only three years, supplying hygiene products that are used in hotels and restaurants all over Europe.

"To accommodate the demand for our products we have moved into bigger offices on the Roman Ridge Industrial Estate near Meadowhall, Sheffield. We're very excited about this move as it signals a step forward for Hygequip Ltd."

The company have distribution centres and sales teams all over the world, from South Africa and the USA to France and Spain.

Matt added: "We're so grateful to SYIF for helping us acquire this extra stock. The investment has given us a real boost and will enable us to really start to flourish in the marketplace."

David Ward, Investment Manager at SYIF said: "We're delighted to have given Hygequip Ltd a helping hand in expanding their business. The products they create are ones that are often taken for granted but they are actually essential to everyday living. We look forward to watching Hygequip prosper as they continue to grow."

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.

Hygequip Ltd are looking to recruit new staff in their Sheffield offices, for more information about the vacancies available, contact Matt Haslam at mhaslam@hygequip.com.

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).