Delta Adhesives forge a bond with Barnsley
Pictured: Grahame Lunt, Investment Manager with Nigel Lockwood, Managing Director of Delta Adhesives
A leading industrial adhesives company is defying the credit crunch by relocating to Barnsley in a bid to expand the business into new markets.
Delta Adhesives, originally based in Leeds, produce, market and distribute industrial adhesives for use in engineering, automotive and Original Equipment Manufacturer (OEM) industries across the British Isles and Europe.
But with an opportunity to substantially grow the business, Delta Adhesives decided to relocate to South Yorkshire.
Nigel Lockwood, Managing Director of Delta Adhesives, said: “We decided to move the company to Barnsley to expand our manufacturing and product development side of the business.
“At our previous location in Leeds we didn’t have the facilities to efficiently manufacture our products – this was done via toll manufacture and third party supply.
“But our new premises at the Claycliffe Business Park, Barnsley, provide us with the facilities to do this. We also now have a research and development laboratory, where we can develop ideas and create new adhesives for different sectors, such as woodworking and coach building.”
Delta recently received £50,000 investment from South Yorkshire Investment Fund, to assist with the company’s relocation and to help fund new product development.
Nigel added: “The funding and assistance we received has been instrumental in the company’s move to Barnsley. It played a big part in the decision to relocate and has helped us to establish our manufacturing side”.
“Barnsley has a lot to offer us as a company. Since moving here earlier this year we have employed six more members of staff. The transport links are great and as two of the company directors are from South Yorkshire, we are working a lot closer to home.
“We’re very grateful for the funding assistance the region has provided us with. The future is looking bright for us, as we continue to develop new adhesives for new sectors and as the company expands.”
Grahame Lunt, Investment Manager at SYIF, said: “It’s good news that Delta Adhesives have relocated to Barnsley. The company is a real asset to South Yorkshire.
“We are delighted to have played a part in helping them make the move to the area and we look forward to seeing the business expand as they develop and introduce new products.”
The loan formed part of a larger funding strategy, which saw UK Steel Enterprise (UKSE) make its first Barnsley investment, with a loan of £100,000.
Allan Wood, Regional Executive at UKSE, said: “This investment was doubly pleasing. Not only was it our first in Barnsley, since expanding our investment area to include the whole of South Yorkshire and Humberside, but it also saw Delta Adhesives relocate to the region.”
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
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).