Innovative Sheffield firm looks forward to bright future
Published: 21st April 2004
Bob Stopforth of MD Partnership with Allan Wood the Investment Manager who led the deal and Mike Hardcastle Managing Director of DCP Systems.
Sheffield company DCP Systems Ltd is yet another business to benefit from an unsecured loan from South Yorkshire Investment Fund.
Founded in 2001 and situated in Chapeltown DCP sells wide format digital colour printer systems made by Hewlett Packard, Kodak and AGFA to photographic labs, screenprinters, signmakers and exhibition display companies.
The company has recently launched a range of printers from Epson that produce a quality of output suitable for fine art reproduction, this has open up a new market in the supply of printers to artists, galleries and photographers.
Due to increasing demand for its products and services the company has recently taken on two new employees bringing the total to twelve.
SYIF's loan was used to partly fund the development of their new product - Giclée Varnish - which is designed to protect, preserve and enhance fine art and photographic prints produced on digital inkjet printers.
Mike Hardcastle, Managing Director of DCP Systems Ltd, said: "I would definitely recommend South Yorkshire Investment Fund to any company. They provided us with the ideal package. "
DCP Systems Ltd was introduced to the Fund by Bob Stopforth of MD Partnership who has also been appointed as a Mentor through the successful Mentorbank scheme. Bob has provided the company with sound financial knowledge and assisted them with their budgeting.
Allan Wood, the Investment Manager who led the deal, said: "We are delighted that DCP has taken full advantage of the services we offer with fantastic results.
" Since the inception of the Fund we have helped a vast range of businesses to develop. We are keen to hear from more businesses with sound business ideas, but which may have insufficient security to raise all the finance they need from a bank or are too small to attract private equity interest."
The Fund provides loans and equity investments ranging from £15k to £2.5m to businesses in, or prepared to relocate to, South Yorkshire. The Fund has already invested over £6.6 million in 86 businesses.
It offers two key products, one of which is loans ranging from £15k to £150k with effective annual interest rates from as little as 2.4% per annum. Loans are unsecured for the majority of established profitable businesses with unsecured loans of up to £50k available for start-ups or early stage businesses.
The second product is an equity-linked package of a loan with equity options or equity investment, ranging from £50k to £2.5m where the Fund may take a minority shareholding 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 their business more profitably. South Yorkshire Investment Fund also run Capital Network a Business Angels introductory service for early stage businesses in South Yorkshire.
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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).