Building a solid future with SYIF
Published: 30th April 2009
A Sheffield-based construction company is expanding thanks to a £300,000 investment from the South Yorkshire Investment Fund (SYIF).
TASC Group Construction Ltd, based on the Dore Industrial Estate, Sheffield, specialises in diamond drilling and fire protection solutions.
The company is currently involved in a number of high profile projects across the country, such as the £200m St Stephens retail development in Hull, where it provided diamond drilling and thermal insulation services.
Steve Copley, managing director of TASC, said: “We began as a diamond drilling company in 1998, but since then we have expanded our business to specialise in fire protection solutions too.
“We provide steel coatings and seals that prevent fire and smoke from causing damage to a building and its occupants. For example, our Curtain Walling Closure Seal is capable of stopping a fire spreading from floor to floor – ensuring the safety of the people in there.”
The investment from SYIF is TASC’s second loan, after the company received £385,000 from SYIF in 2006 to assist a management buy out.
Steve said: “This latest investment of £300,000 is a wonderful boost for the business - it’s helping us to move into bigger premises on the industrial estate and in turn, expand our target market.
“SYIF have always been there to help us, they’ve been brilliant. They are always positive with us and I think that during these difficult economic times that’s a huge asset - SYIF give longevity to companies across the region.
Debbie Sorby, portfolio manager at SYIF said: “TASC is a well established and well managed business with a strong reputation in the industry for good quality and service. The business has a good customer base together with a strong sales pipeline for the coming year.
“We look forward to watching the company grow and wish them the best of luck for the future.”
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.
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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).