Companies boost for latest investment
Two Sheffield-based companies have received assistance with a second round of funding from South Yorkshire Investment Fund.
SYIF has invested £75,000 into Televideo Ltd, while Interior Surfaces Ltd receives £20,000, with both using the money to develop their business.
Televideo is one of the UK's largest and longest established independent outside broadcast companies which has been involved with Sky Sports, BBC, ITV, Eurosport and covered events such as British Superbikes and Premier League Football.
Paul Scivill, Managing Director of Televideo on Furnival Road, said: "The investment has gone towards the purchase of a High Definition surround sound outside broadcast unit.
"The new truck continues our expansion and improvement plans. The high definition unit is the only one in the north of England and is at the cutting edge of technology. It will allow us to grow with high definition rather than catch-up with it."
Interior Surfaces Ltd, based off Penistone Road, produce a range of work surfaces and washroom systems for commercial and domestic customers, including schools, hospitals, supermarkets, retail chains and the general public.
The business has gone from strength to strength over the last few months and is expected to see turnover rise by 60 per cent in 2007.
Zoe Dickinson, Interior Surfaces Sales Manager, said: "The capital invested from South Yorkshire Investment Fund and the projects we have been working on have helped the company's development and expansion in a huge way.
"We have taken on three new staff and are looking at possibly nine more joining during the next two years."
Interior Surfaces has launched a new brand identity following additional support from Business Link South Yorkshire and the Design Council.
Zoe added: "The new face of the company has been devised to reflect the high profile customers we have started to work with."
Jane Siddle, Investment Manager at South Yorkshire Investment Fund, said: "Both these companies have enjoyed success in their relevant industries and have used each investment wisely to benefit their business.
"We hope this latest round will aid their development even further and I will be keeping a close eye on their progress."
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).