Home > News & Events > June 2003 > News Article

Fund provides help to diverse range of industries

Published: 5th June 2003

South Yorkshire Investment Fund continues to attract interest from a diverse range of industries.

The £50m Fund has completed a wide range of deals ranging from loans in fast growing businesses to larger venture capital deals, where it has backed management buyout and buy-in opportunities.

Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd, said: "We are helping new and existing businesses in a diverse and exciting range of industries. The team at SYIF have worked hard at sourcing new investment opportunities and we have substantially grown our network of contacts in the region."

One area where the Fund has seen increased interest in, and which provides evidence for its diversity, is the medical industry. In recent months the Fund has provided a number of loans for medical companies across the region.

One such company is Sheffield health-care business Rosebank Industries which is growing significantly after winning the support of SYIF with an unsecured loan of £25,000.

Father and son Eric and Roland Bricknell, who originate from South Africa, were keen to start their own business in the UK and in August 2001 their dream became a reality when they launched Rosebank Industries.

Employing three people, the business manufactures non-woven wipes for healthcare and industrial use. Since 2001 the family run firm has expanded its range of products to include disposable bibs, wet wipes, aprons and cotton towels.

The loan was used to purchase state-of-the-art equipment including a packaging machine and a liquid filling machine.

The business also took advantage of the Fund’s Mentorbank project, which provides subsidised mentoring support to help management teams grow the business more profitably.

Single Use Surgical Ltd, an innovative medical company in Barnsley, which has developed a range of disposable surgical instruments, has received a £20,000 unsecured loan from SYIF to boost its working capital. The company makes and supplies single-use surgical instruments that have the functionality, feel and look of re-usable instruments.

Managing Director, Matthew Tulley, said: "This extra funding will support the business in our push for further expansion and growth. We are very keen to expand our markets at home and abroad."

Another company to benefit from the Fund’s willingness to talk to a wide range of companies is Philip Drury Medical Technologies, which has been given a £50,000 loan. Based at the Globe Business Centre on Penistone Road, the firm is a regulatory affairs consultancy offering a range of services to medical companies.

Tony Goulbourn added: "We want to help all kinds of business across South Yorkshire, bringing more employment and prosperity to the region."

South Yorkshire Investment Fund offers a series of loan and equity packages ranging from £15k to £1m, which are structured to support businesses through critical stages of growth. A unique feature of the Fund is its Mentorbank project, which provides subsidised mentoring support to help management teams grow the businesses more profitably.

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.
http://www.finance-yorkshire.com

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).