case study - finance yorkshire study_keats... · 2013-06-03 · www.finance-yorkshire.com tel....
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www.finance-yorkshire.comTel. 0845 649 0000 [email protected]
Case Study
The CompanyThe company, based in Normanton, West Yorkshire, has a particular expertise in coal processing equipment.
The ChallengeOperations Director Guy Nottingham said: “There is a lot of coal in eastern Europe and therefore a lot of mines and tips.
“We were looking to partner with a Canadian company which owned two mines and a tip out there but we needed to find out how expensive it would be for us to set up a coal washing plant and how much the tip would yield.
“It turned out there was more coal on the tip than in the two underground mines combined so it was going to be a very worthwhile project to get involved in.
“However, we needed to fund a £1.5 million wash plant and did not have the finance for all the necessary equipment. We could manufacture some of it ourselves but needed to buy in some components like centrifuges and motors.”
The SolutionA £75,000 Business Loan from Finance Yorkshire was provided to Keats Engineering.
“The Finance Yorkshire funding helped us purchase those items to fund the Ukraine project,” said Guy. “We would’ve struggled without it.
“We’ve taken on ten additional staff in the last six months, too, recruiting some of the best tip management, coal processing and chemical engineers in our industry.”
The Investment RationaleFinance Yorkshire Investment Manager Grahame Lunt said: “The investment gave Keats the additional working capital the company needed to take on and complete the successful project in the Ukraine, as well as expand the team by creating more jobs in the region.”
Future ExpectationsAdded Guy: “This project was the first time we’ve manufactured and operated in partnership and we’re now looking to get involved in similar projects where we install and operate the coal washing plant on the company’s site and then take a share of the profits.
“Looking ahead, we want to continue to expand into new worldwide markets. There are several other opportunities for us to continue to explore in the Ukraine and we are also looking at projects in Australia and the US.”
Keats Engineering Ltd
Established a decade ago, Keats Engineering Ltd designs, manufactures, installs, services and operates materials handling machinery.
BusinessLoans
Pictured (L-R) Finance Yorkshire Portfolio Executive John Ellis, Finance Yorkshire Investment Manager Grahame Lunt and Keats Engineering Operations Director Guy Nottingham
The Business Loans team provide loans to complete financial packages for businesses.
The business loans fund will lend £15k to £150k depending on how established the business is. Small and medium sized enterprises in their early stages can qualify for loans up to £50k, established businesses up to £75k and established and profitable businesses up to £150k.
Business loans are available for a wide range of purposes including funding the gaps in working capital, and capital expenditure. To qualify, businesses must be generating revenue and show the business has the potential to grow.
They must also show funding through conventional sources of finance are insufficient or unavailable. Business or personal assets are not typically required to be provided as security but a personal guarantee may be required.
An extensive team has been developed to ensure financial intermediaries and businesses across the region have easy access to an Investment Manager.
The team is split into three areas:
West Yorkshire and the North - Grahame Lunt Jonathan Craig and Andy Chaffer
East Yorkshire, the Humber, North and North East Lincolnshire - Ian Atkinson
South Yorkshire - Karl Hodson and Ian Howson
Business Loans - £15,000 to £150,000
To find out more about Finance Yorkshire’s Business Loans please contact us.
Meet the team...
Other finance available from Finance Yorkshire:
Seedcorn FinanceUp to £780k
Equity Linked Finance£100k - £2m
Ian AtkinsonInvestment ManagerT: 01226 323732M. 07799 [email protected]
Jonathan CraigInvestment ManagerT: 01226 323733M. 07796 [email protected]
Clive DownwardInvestment DirectorT: 01226 323729M. 07775 [email protected]
Grahame LuntInvestment ManagerT: 01226 323746M. 07713 [email protected]
Ian HowsonInvestment ManagerT: 01226 323730M. 07876 [email protected]
Karl HodsonInvestment ManagerT: 01226 323731M. 07713 [email protected]
1 Capitol Court, Capitol Business Park, Dodworth, Barnsley, S75 3TZ
www.finance-yorkshire.comTel. 0845 649 0000 [email protected]
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Finance Yorkshire Ltd is a company limited by guarantee (Registered No 07075478). Finance Yorkshire Ltd (0845 649 0000) comprises three sub funds, Finance Yorkshire Equity Fund, which is managed by Viking Fund Managers Limited, Finance Yorkshire Small Loans Fund, which is managed by EV Business Loans Limited and Finance Yorkshire Seedcorn Fund, which is managed by Enterprise Ventures Limited. Each of these Fund Managers is authorised and regulated by the Financial Conduct Authority.
Andy ChafferInvestment ManagerT: 01226 323728M.07718 [email protected]