PricewaterhouseCoopers: An intermediary’s view
PricewaterhouseCoopers LLP (PwC) is the largest professional services firm in the UK. Established in Sheffield in 1950, the city-based office now has more than 80 employees dedicated to providing clients with high levels of service and advice in assurance, advisory and tax. PwC is the only "big four firm" in South Yorkshire.
PwC supports a variety of local businesses, from large and small listed clients, as well as private equity backed and owner managed businesses.
Lyn Vardy is business recovery services director for PwC and leads a broad range of assignments, advising lenders in turnaround, new lending and debt recovery situations.
The company has introduced numerous investment opportunities to SYIF from companies in a variety of scenarios, including restructuring and equity raising initiatives, as well as advising businesses on the finance available.
One of the companies PWC introduced to SYIF was Naylor Industries in Barnsley which originally received a £1.15million equity linked investment and a further £100,000 loan to help the company expand its operations and increase its product range. A further SYIF investment was made in December 2008,
Lyn said: “The SYIF investment supported the growth of the business by allowing them to invest in new equipment and new product launches. SYIF’s strengths are its approachability, and the range of investment products on offer. It has something to suit a wide of investment scenarios with varying risk profiles, from technology start-up to acquisition finance.
“SYIF has consistently fulfilled its objective of being able to fill a ‘gap’, providing finance as part of a total package with other investors, creating an overall package.
“In addition, the mentors and non-executive directors (NEDs) SYIF appoints help the company to bridge any skill gaps in order to guide the business in the short term, supporting the growth of the business and playing an active role in its success.”
PwC has helped many businesses manage their way through the downturn to ensure that they are fit for the future, making their success our success and driving future growth.
Lyn added: “Excellence, teamwork and leadership are the cornerstones of our business, and all our people strive to deliver to deliver a quality services - based on transparency and integrity - in everything we do.”
Lyn is supported at PwC by Joanna Allen transaction services director and Andy Ward assurance director. Joanna’s team provides a range of due diligence services, pre and post-deal support, planning and structuring advice to both acquirers and vendors.
For more information about PwC and how they help businesses, please visit www.pwc.com/sheffield
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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).