Fund provides cutting edge to Sheffield manufacturer
Published: 27th August 2003
Peter Bolton, Managing Director of Bolton Surgical, inspecting precision medical instruments with Allan Wood Investment Manager who led the deal and Judy Roberts, Bolton Surgical Commercial Manager.
The South Yorkshire Investment Fund is helping a Sheffield manufacturing company to keep ahead of its rivals.
Bolton Surgical Ltd, manufacturers and repairers of surgical instruments, has obtained a £40,000 unsecured loan from the Fund. The company's main client is the National Health Service.
Situated on Nutwood Trading Estate the business can trace its roots to the early 1900s when William Henry Bolton manufactured surgical equipment, the company is still headed by Peter Bolton - William's grandson.
The funds will be used to buy and install the latest technology in IT systems. This will enable the company to keep up to date with new NHS regulation for purchasing on line and to cope with legislative changes within the organisation.
Managing director, Peter Bolton, said: "We are proud to be one of the very few independently owned surgical instrument companies of our size in the UK. Our growth has been a planned strategy, implemented by a good strong team, taking great pride in its achievements.
"We are constantly striving to be the best and have recently developed an innovative range of instruments, instrumental in surgical procedures involving bowel cancer."
Employing a dedicated 34-strong team of professionals over three large factory units, traditional skills are integrated with modern technology, ensuring Bolton Surgical remains an innovative market leader.
Manufacturing over 6000 products, the company produces top quality surgical instruments using the finest Sheffield Steel. All its products conform to BSENISO9002 and are CE marked. Their full range has also been awarded the Sheffield Coat of Arms.
Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd, said: "We are always looking to help manufacturing companies. Bolton Surgical have a long and successful history and I am sure they will continue to grow from strength to strength."
The Fund provides development and risk capital ranging from £15k to £1m to businesses in, or prepared to relocate to, South Yorkshire. It offers two key products, one of which is loans ranging from £15k to £150k with effective annual interest rates from as little as 3% per annum. The second product is an equity-linked package, ranging from £50k to £1m where the Fund takes a minority stake in the business.
A unique feature of the way the Fund can help businesses is the Mentorbank project, which provides subsidised mentoring support to help management teams grow the business more profitably.
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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).