Tuesday, May 21, 2013

News: Finance Yorkshire invests in RediRack


Rotherham based RediRack, the creator of the world’s first adjustable frame and beam pallet racking, has received a significant investment from Finance Yorkshire.
RediRack will use the funds to accelerate the ground breaking Innovation Centre at their head offices at Kilnhurst, creating much needed jobs in the area.

Finance Yorkshire provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2m, specifically to help small and medium sized businesses meet the gaps in the market for the funding they need for growth and development.

Andrew Forsythe, Group Managing Director said “I’m thrilled to receive this investment from Finance Yorkshire.  Here at RediRack we pride ourselves on our heritage a British manufacturer that supplies a product that is internationally recognised for quality and excellence and a market leading force for technology in our industry, we have hundreds of years’ experience in our business and fully utilise that as we continue to be award winning innovators in the storage and handling industry.”

Mr. Forsythe added: “Our commitment to the logistics industry is second to none and this investment will allow us to fast track some of our innovation products, keeping RediRack at the top of our industry.”

Ian Howson, Finance Yorkshire Investment Manager, said: “RediRack is an innovative and fast growing company with exciting plans for future development. It is looking grow its facility in South Yorkshire, which will increase employment opportunities in the area and become a centre of excellence in the creation of new exciting products.

“All these initiatives make it an ideal company for a Business Loan from Finance Yorkshire as we work with RediRack to help deliver its plans successfully.”

Finance Yorkshire has attracted £30m investment from the European Regional Development Fund (ERDF), £15m from Yorkshire Forward's Single Programme, and £45m match funding from the European Investment Bank.


Images: Finance Yorkshire


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