News: Rotherham firm raises £3m to boost uptake of green energy

A Rotherham-based company developing an innovative hydrogen generator that could boost uptake of green energy, has raised £3m from NPIF – Mercia Equity Finance.

The company, which is based on the Advanced Manufacturing Park (AMP) in Rotherham, plans to create generators the size of shipping containers that could be placed on site to power factories, hospitals, and warehouses or at filling stations to fuel hydrogen-powered vehicles.

Producing hydrogen where it is needed eliminates the high costs involved in distribution from a large, centralised plant, which has been one of the key barriers to adoption. It also allows businesses that want to decarbonise their operation to start much sooner than waiting for large-scale hydrogen plants to be built.

Suiso’s process produces low-cost, low-carbon or zero-carbon energy. It uses a novel microwave technology to extract hydrogen from natural gas or biogas, while capturing the carbon in the form of carbon black, a valuable byproduct that can be used to make tyres, batteries and inks. As existing methods of carbon black production create high levels of emissions, Suiso’s technology can help decarbonise these industries too.

A study by the Department of Business, Energy & Industry Strategy (BEIS) confirmed that, for many key applications, Suiso’s technology is lower cost and produces lower emissions than existing production methods such as grid-powered electrolysis, and 97% lower than steam methane reforming, making it one of the greenest forms of hydrogen available. It also uses 80% less electrical energy than electrolysis, therefore putting less stress on the grid network.

NPIF is managed by Mercia Ventures and part of the Northern Powerhouse Investment Fund, and Mercia’s EIS funds. It is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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Suiso was founded by engineer and financier Stuart McKnight and serial entrepreneur Dr SB Cha, whose father invented Suiso’s microwave technology. The company was one of the winners of the BEIS Low Carbon H2 Supply scheme in 2023.

The latest investment will enable it to scale up its technology and begin a pilot project. Ultimately it aims to produce generators that can produce 1,000 kg of hydrogen a day – equivalent to 1.6 MW of energy and enough to fuel 50 20-tonne trucks. The company, which currently employs five staff, expects to create seven new jobs in the next six months.

Stuart McKnight, CEO of Suiso, said: “Hydrogen is rapidly emerging as a sustainable way to decarbonise the economy, but cost, availability and other practical issues have held back its use. Our technology offers a way to overcome these and provide clean, low-cost power on site. For some organisations, Suiso’s on site hydrogen generation may be the only realistic ‘green’ option – for example, energy-intensive industrial applications such as large boilers or furnaces, heavy lifting gear or HGV and truck refuelling. This investment will help us move to the next stage on our journey to bring it to market.”

Ashwin Kumaraswamy, Investment Director with Mercia Ventures, added: “Suiso has found a way to decarbonise natural and biogas to produce ‘greener’ hydrogen than many current methods of production including grid powered electrolysis, and a zero-emission form of carbon black which is a valuable product in itself. This technology could make hydrogen a viable option for many businesses and drive rapid uptake. With growing global demand for clean energy, we are confident that Suiso will have many opportunities ahead.”

Keira Shepperson, Director, British Business Bank said: “Suiso’s dedication to the use of greener and cleaner energy showcases it as a future-focused business, committed to helping the country meet its net-zero targets. As it continues to prosper, we look forward to supporting it in its growth journey. The Northern Powerhouse Investment Fund remains dedicated to investing in innovative businesses, and particularly those striving towards a greener future.”

Suiso website
NPIF website
Mercia website

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News: Cash injection will help Rotherham firm to meet growing demand

A Rotherham firm that helps employers to reduce work-related ill health has secured a £125,000 loan from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.

The funding will enable Workplace Scientifics to invest in new equipment and meet the growing demand for its occupational hygiene services. The company – which advises on ways to mitigate workplace hazards such as noise, vibration, hazardous substances and chemicals – was founded in 2020 by entrepreneurs Dave Lombardi and Thomas Wood, who have a background in the industry.

They set out to deliver services in a different way, offering ongoing support to help employers improve safety, in addition to providing one-off assessments. Based in the Moorgate area of Rotherham, the company now employs a team of eight and serves a growing list of clients including Masonite, Magnet, Howmet Airspace, Severfield and Phillips 66. The funding will enable it to create three new jobs over the next six months and provide additional working capital to take on new contracts.

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Thomas Wood believes companies are increasingly seeing the value in taking a pro-active approach to health at work. “Authorities are taking a tougher stance on worker health protection. Breaching the rules can cost millions, but perhaps more importantly, attitudes are changing. Organisations are taking worker health more seriously and understanding their moral duties to create safer working environments,” he explains.

“As occupational hygiene practitioners, we not only help employers to identify hazards that might otherwise go unnoticed, but also situations where they are taking unnecessary precautions, which can be wasteful and costly. For example, we visited one business where the workers had worn disposable ear defenders for years, which was uncomfortable and created lots of plastic waste. We were able to find ways to reduce the factory noise to a level where hearing protection was no longer required. Each company is different and it is about having the right measures in place.”

Recommended reading: Boosting Your Business: Innovative Funding Options for SMEs

Andy Tyas of Mercia said: “Employers increasingly recognise the value of good working practices in safeguarding their reputation and the health of their workforce, and reducing absence and staff turnover. Dave and Thomas are passionate about delivering a high-quality, expert service. The business has gained rapid traction since its launch and its services are in growing demand. This funding will help them to invest in new equipment and expand the team to support its continued growth.”

Keira Shepperson, Director at British Business Bank: “There is an increasing number of entrepreneurs creating proactive solutions, and this business has identified a niche segment in the market to improve occupational safety. The loan will unlock the team’s capability to provide more of its expertise, making a valuable contribution to improving health and safety in the workplace.”

Julia Wilkinson of Funding Round provided fundraising advice to the company.

Workplace Scientifics website
Mercia NPIF website

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News: Rotherham manufacturer bucks trend with year-on-year growth after securing NPIF investment

Rotherham-based manufacturer Casting Technology International (CTI) has bucked the trend with continued year-on-year growth two years on from its management buyout and its significant loan from NPIF – Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund. The investment was also backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

Based on the Advanced Manufacturing Park (AMP) in Rotherham, Cti is the world’s leading provider of production, innovation, technology, expertise and services to the cast metals sector.

CTI’s turnover grew from £6m to £7.2m from 2021 to 2022 and is expected to grow significantly by the end of the year, which was driven by new client acquisitions and contract wins.

The company, which celebrates its 100-year anniversary this year, is also committed to creating more opportunities for women after a new report by Engineering UK highlighted the gender disparity in undergraduate engineering and technology degrees. The report revealed 115,000 more girls would need to study A-Level maths and physics each year to bridge the divide.

Since 2021, the foundry has grown staff numbers by 35 per cent. As part of its plans to address the skills gap in STEM, CTI will look to create 12 new apprenticeship roles in the next three years.

Funding from NPIF was used to bolster its world-class manufacturing facility to produce one of the world’s largest ever titanium parts poured into a ceramic mould for a Japanese customer. The funding also helped boost product development, and to expand its sales and marketing infrastructure and resources.

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To help mark its 100-year milestone, Louis Taylor, the newly appointed CEO at British Business Bank, paid a visit to CTI’s facility to find out more about the firm’s plans in the region.

Louis Taylor, CEO at British Business Bank, said: “CTI is a prime example of high-quality British manufacturing. I am proud that the Northern Powerhouse Investment Fund, backed by the CBILS guarantee programme, and our fund managers at Mercia have been able to support the management team through a period of exceptional growth. CTI has been a key part of Rotherham’s manufacturing scene for almost a century and has demonstrated true resilience in response to the various headwinds that sector has faced. Its commitment to supporting the next generation of women coming into this sector is remarkable, and I’m looking forward to seeing what’s in store for the business in the years to come.”

Kevin Parkin, chairman at Casting Technology International, said: “We’ve been at the heart of manufacturing in the UK for 100 years, and funding from NPIF and Mercia has helped ensure that we’ll continue this legacy for years to come. We know the value of future investment into R&D and new technologies which is why we’re focusing heavily on that part of the business this year as we seek out new opportunities to grow. We’re also committed to increasing equality, diversity, and inclusion amongst our workforce, and our pipeline of apprenticeship schemes will be a key part in reaching that goal.”

Paul Taberner, managing director at Mercia, said: “CTI is a great example of the role NPIF and CBILS can play in enabling an SME to achieve its strategic ambitions. Working alongside its primary funders, Mercia was delighted to support the company in achieving the next step in its evolution and is equally delighted to see the progress made since the MBO, in particular the creation of new highly-skilled jobs and the significant investment in research and development.”

Both the Northern Powerhouse Investment Fund and the CBILS guarantee programme are delivered by the British Business Bank. Mercia Asset Management was the fund manager on the deal.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

CTI website
NPIF website

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News: Dinnington design firm expands 3D print service

A Rotherham product design company has raised £500,000 from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), to help expand its 3D print production service and target new markets.

AME Group is based at Dinnington and designs products for many leading consumer brands including Jaguar, Vax, Hornby Railways and Harris Brushes. Its 3D print service was initially introduced to produce prototypes. However, following an initial £750,000 investment from NPIF last year, the company invested in new equipment and is now offering a low-volume production service with rapid turnaround times.

It currently produces components for clients in the aerospace, defence and the luxury yacht market. The latest funding will enable it to broaden its product range and target new sectors, as well as meet the growing demand for its design services. AME Group was founded in 1998 by Ian Jones, who is Finance Director. It currently employs 28 staff and expects to create around ten new jobs in the next two years.

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Rich Proctor, the company’s CEO, said: “3D printing is catching on quickly as it enables companies to shorten lead times by manufacturing small batches in the UK, test new product ideas and respond rapidly to market trends.

“Many businesses are also looking to redesign their existing products to reduce cost or make them more sustainable. And overall, there is a greater appreciation of products and their ability to differentiate a company in the market, rather than relying solely on digital assets.”

Maurice Disasi of Mercia added: “AME Group is recognised as one of the leading product design specialists in the UK and it is now establishing itself as a specialist in 3D print production. This latest funding will enable it to meet growing demand for its services.”

Sean Hutchinson at the British Business Bank said: “We are pleased that the Northern Powerhouse Investment Fund is continuing to support high-growth businesses in the North, providing vital funding to aid companies like AME Group to meet market demands, and innovate their services. The development of AME Group’s production and their plans for product expansion is testament to the role NPIF plays in creating a more prosperous regional economy, through the businesses its funds invest into.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

AME Group website
NPIF website

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News: Funding boost for Arquella and its unique app for the care home sector

Rotherham-based company Arquella, who have developed a cost effective and cutting edge app for the care home sector that eases red tape, has secured an £850,000 investment to aid further growth.

The Dinnington firm offers a unique "moment of care app" which is designed to replace outdated and unintegrated pager and paper systems that much of the industry relies on.

The investment comes from two entities – Leeds-based Traditum Private Equity and the Northern Powerhouse Investment Fund (NPIF) which is managed by Mercia Equity Finance which focusses on supporting businesses in Yorkshire, Humber and Tees Valley.

The funding coincides with a care sector study released this month, which showed that 86% of respondents felt the industry was weighed down by red tape and that ‘vital aspects of care provision are suffering at the hands of outdated and time-consuming procedures, with many staff struggling to fulfil their day to day roles’.

Arquella’s unique technology provides a time efficient management system for care homes teams. The app integrates data through ‘touch of a button’, one of a kind, cloud-based tech to not only create and deliver planned care but to accurately record and monitor reactive care in real time, in line with the Care Quality Commission (CQC) standards.

This second round of funding will enable Arquella to continue to expand and target the rapidly expanding residential care home sector across the UK and Europe.

Founded in 2017, Arquella received funding of £350,000 from NPIF – Mercia Equity Finance in 2020 to enable them to develop the technology.

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Steven Holmes, Commercial Director at Arquella, said: "We built Arquella to resolve problems that we face as a society with a rapidly ageing population and increased demands on the care home sector. We know that the (UK) 60+ population will increase by 260% by 2050. Arquella has been designed to be at the forefront for creating solutions.

"We are excited about our new partnership with Traditum, and are extremely proud to have received further funding from Mercia, who have supported us and enabled us to develop our proprietary technology.

"To have our progress and vision recognised by such investors is a huge compliment. The new funds will enable us to scale more quickly by growing our sales and marketing activity and our international sales channels.

"Traditum Private Equity enables flexible investments for clients and investee companies across sectors such as Healthtech, Sustainability and Agriculture. Taking a more traditional approach to investments, Traditum aligns experienced Investors with known sectors and businesses to add value to each transaction, applying a flexible, innovative and unique equity structures which are sympathetic to long term business planning."

Iain Marlow, Head of Investment at Traditum, added: "The investment in Arquella is the first from Traditum’s dedicated health technology team. Arquella have created a unique solution to the problem that faces the care sector, a single AI driven, integrated technology platform that automates activity to reduce administration, whilst providing management with information that exceeds CQC demands."

Dan Thomas, Investment Manager at Mercia, added: "Care homes are a fast growing market but the sector still relies largely on outdated technologies. Arquella’s next-generation systems offer huge potential to reduce the burden on carers and use data to improve safeguarding and efficiency. Having supported the Sheffield based company since 2020, we are delighted to welcome Traditum as a new investor. Mercia has been set up to invest in innovative business with a focus on Yorkshire, Humber and the Tees Valley."

Mick Morris of Compellor provided fundraising advice to Arquella on the latest investment. Andrew O’Mahony and Daniel Hayhurst of Brabners provided legal advice to Traditum. Jim Gribbon and Andy Sims of Venture Axis provided software diligence advice to Traditum.

Arquella website
Taditum website
NPIF website

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News: Cti forge a successful year

Castings Technology International (Cti), is celebrating a successful year, following a management buy-out (MBO) of the business from the University of Sheffield in January.

Based on the Advanced Manufacturing Park (AMP) in Rotherham, the company is a world-leading provider of manufacturing, technology, expertise and services to the cast metals sector and global supply chain. It has been perfecting its technology over many years, working hand in hand with multinational blue-chip companies through both research and development and long-term supply agreements. The company now forms a critical player in a supply chain servicing multi-billion-pound contracts.

At the same time as the MBO, the business also secured a £2m fundraising round led by Nucleus Commercial Finance and NPIF – Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.

Since completing the deal, funding raised has allowed the company to expand rapidly. It has invested further into product development; added to its sales and marketing infrastructure and resource; and expanded its world-class manufacturing facility, which is based at the University of Sheffield Advanced Manufacturing Research Centre (AMRC).

Earlier this year, as a direct result of investments made, Cti produced the largest single component it has cast in its 98-year history. Made from commercially pure titanium, it is believed to be the largest ever titanium part poured into a ceramic mould. Tipping the scales in it’s shipped condition at 320kg (705lbs), with an envelope of 1000mm square by 600mm high, the casting showcases several novel casting techniques developed in-house at Cti, the heart of cast metal innovation.

The casting formed part of an order from an OEM Japanese customer and will be used as a high-pressure pump in a demanding corrosive industrial application. Titanium casting production is complex and requires expertise not only in metallurgy, but foundry methodology.

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The company has casting capabilities in almost any type of metal alloy and has a 1,200kg titanium vacuum melting capability, which ranks it as one of the largest in the world. In conjunction with customers’ design teams, Cti is casting complex components supplied into the aerospace, defence, chemical nuclear and marine markets.

Highly experienced engineer Richard Cook (Managing Director) and local entrepreneur Kevin Parkin (Chairman) lead Cti’s management team. They are supported by a highly experienced Non-Executive Director team that includes world-class foundry innovator Professor John Campbell, Graham Honeyman CBE – former Chief Executive at Sheffield Forgemasters – as well as Brian Robb and Steve Irwin, two highly-experienced castings experts that have worked for many years with Rolls-Royce.

Richard Cook, Managing Director at Casting Technology International, said: “It has been an exciting year for us, as the management buy-out marked one of the most important moments in our 98-year history. In tandem, thanks to the support of the Northern Powerhouse Investment Fund, Mercia and Nucleus Commercial Finance, we have been able to push forward with our growth plans. We are innovators by nature, and this has allowed us to fulfil world-first orders and deliver on contracts for some of the world’s biggest brands.”

Sean Hutchinson at the British Business Bank said: “The Northern Powerhouse Investment Fund is proud to have supported Cti in taking this important step, through NPIF – Mercia Debt Finance. The deal demonstrates the impact that investment can have here in the North of England, helping to facilitate growth and create new opportunities, and we look forward to following Cti’s progress.”

The Northern Powerhouse Investment Fund has provided a significant loan to Cti to support the growth business plan, with Andy Tyas and Pete Sorsby from the team at Mercia Asset Management leading on the transaction on behalf of the fund, with working capital facilities provided by Financial Institution, Nucleus Commercial Finance.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Cti website

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News: Product design firm raises £750k amidst growing demand for prototypes

A Rotherham company which designs products for many leading consumer brands has raised £750,000 from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.

Dinnington-based AME Group will use the funds to create ten new jobs and invest in new equipment to support its growth. As one of the UK’s leading independent product development consultancies, the company works with many high-profile brands such as Hornby Railways, Vax, Jaguar, Smith & Nephew medical equipment, Harris Brushes and B&Q Performance power tools.

In recent years it has also experienced growing demand for its rapid prototyping service, ranging from the creation of one-off models for testing purposes to small-batch production of high-value products such as marine components and medical equipment. It now plans to expand its range of 3D print and low-volume production equipment. The company, which is based on the site of the former Dinnington Colliery, currently employs over 20 staff.

Founder Ian Jones, who is now the company’s Finance Director, said: “Technologies such as 3D printing have opened up new possibilities in product development and testing. As a result, the rapid prototyping market is expanding year on year. This funding will allow the company to benefit from the post-Covid ‘bounce’ and the longer-term growth in demand.”

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Maurice Disasi of Mercia added: “AME has performed strongly since its inception and established itself as one of the leaders in its field. As the company embarks on a new period of growth, this funding will enable it to take advantage of the exciting opportunities in the rapid prototyping market, widen its customer base and develop its own branded products.”

Sean Hutchinson of British Business Bank said: “AME is a growing Northern business working with a strong portfolio of respected brands across a range of sectors. NPIF is proud to play a part in helping businesses like AME reach the next stage in their growth journey. By investing in ambitious successful companies, we are helping to create new jobs, safeguard others and support regional economic growth allowing business communities to fulfill their potential.”

Lucy Holroyd of Schoffield Sweeney provided legal advice to AME on the investment. Caroline Walker and Gareth Saynor of CMS provided legal advice to Mercia.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

AME Group website
NPIF website
Mercia website

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News: £2m injection for cast metals experts following MBO

A Rotherham company which is a world leader in its field is poised for significant growth following a management buyout (MBO) from the University of Sheffield, which has concluded alongside fundraising to take the company to its next phase of growth.

Castings Technology International Ltd (CTI) is a world-leading provider of manufacturing, technology, expertise and services to the cast metals sector and global supply chain.

The company, which is based on the Advanced Manufacturing park (AMP), has completed a £2m fundraising, backed by Mercia Asset Management, via the Northern Powerhouse Investment Fund and Nucleus Commercial Finance, and at the same time has been "spun off" into the ownership of the management team.

A spokesperson for the University of Sheffield said: "We would like to thank the employees and team at CTI for their dedication and support for the business over a number of years, as well as CTI’s customers and partners.

"We are delighted that this transaction will see the continuation of CTI's operations under new ownership, securing the ongoing employment of 60 people locally in highly skilled jobs within the Sheffield City Region.

"Progressing to private ownership is a natural and welcome evolution, and the University has worked with the CTI management team to ensure as smooth a transition as possible."

CTI has been perfecting its technology over many years, working hand in hand with multinational blue-chip companies through both research and development and long-term supply agreements. CTI now forms a critical player in a supply chain servicing multi-billion-pound contracts.

The company has casting capabilities in almost any type of metal alloy and has a 1,200kg titanium vacuum melting capability, which ranks it as one of the largest in the world. In conjunction with customers' design teams, CTI is casting complex components supplied into the aerospace, defence, chemical nuclear and marine markets.

The funding raised will allow the company to expand more rapidly by investment into further product development, alongside sales and marketing infrastructure and resource, to expand throughout its world-class manufacturing facility, which is based at the University of Sheffield Advanced Manufacturing Research Centre (AMRC).

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In 2014, The University of Sheffield acquired the buildings and assets of Cti and Titanium Castings UK Ltd (TCUK) including the ongoing research work, commercial contracts and consultancy. It was split into two organisations; AMRC Castings, which focused on research and development, and Cti Ltd, which carried out commercial work.

Richard Cook, Managing Director, a highly experienced engineer, and local entrepreneur Kevin Parkin, Chairman, lead the management team in the latest buy out.

Kevin Parkin said: "This is a unique opportunity to develop and grow this highly efficient manufacturing capability now that the equipment, processes and quality systems have been fully developed and accredited. Working alongside our AMRC neighbours, together with the superb research and development initiatives provided by the University, will give CTI an enviable position in the global supply chain. The facility will also allow the City Region to attract and retain highly skilled metallurgically based talent."

Richard Cook added: "The operational management team of CTI intrinsically understand this business and are dedicated to continuing to serve our customers and to working with our fantastic team of experienced engineers. We are delighted to have the opportunity to take forward our plans for the company under our new ownership. The management team would like to place on record its sincere thanks to the University of Sheffield for its support and assistance during the transferral of the ownership of the company and its support for CTI over a number of years."

Award-winning and Yorkshire-based deal making firm, Castle Square Corporate Finance, led by Managing Director Kevan Shaw and Director Steve Bell, provided advice on the transaction and ran a fundraising process which successfully delivered the £2m funding needed to support the growth plan.

Kevan Shaw, said: “It was exciting to be involved in a transaction and fundraising that will see CTI embark on rapid growth, exploiting its market leading technology and world-class production facilities whilst creating highly skilled jobs, for the benefit of the Sheffield City region.”

Legal advice was provided to the management team by Sheffield lawyers, Wake Smith, led by John Baddeley, with Mark Cooper of accountancy firm BHP providing tax advice.

Wake Smith Chairman John Baddeley, who led the Wake Smith team which included commercial property Director Paul Gibbon, said: "We are delighted to have helped the MBO team which is providing expertise and products to a global supply chain and flying the flag for the region’s advanced manufacturing expertise. I am sure that they will build the business and expand their reach over the next few years."

The Northern Powerhouse Investment Fund has provided a significant loan to CTI to support the growth business plan, with Andy Tyas and Pete Sorsby from the team at Mercia Asset Management leading on the transaction on behalf of the fund, with working capital facilities provided by Financial Institution, Nucleus Commercial Finance, led by Director Riana Azam.

Andy Tyas said: "CTI is a great example of the quality of the SME cohort situated in the Advanced Manufacturing Park and wider Sheffield City Region community. We are delighted to work with the company’s management team and its advisors in using Northern Powerhouse Investment Fund to support the business in its next phase of development, following the success of its University of Sheffield partnership that has brought it to this point. The expansion of its capability across a wide and high-quality customer base is an exciting prospect we look forward to supporting in the years to come."

Dan Renton and his Corporate Finance team at Deloitte provided corporate finance advice to the University of Sheffield, and Roger Gough of DLA led the legal team acting on the University’s behalf.

Nucleus Commercial Finance were advised by lawyers at Gateley.

BHP will become the Company’s new auditor.

CTI website

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News: Eagle lands further investment

Rotherham-based platforms hire company, Eagle Platforms Ltd, is investing over £1m in its fleet with the help of a loan from NPIF – Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.

Moving to larger premises in Anston to deal with demand which continues to grow year on year, Eagle Platforms has secured a £200,000 loan which will provide additional growth capital and allow it to acquire a further £1.1m of large plant to meet demand.

The company, which provides powered access equipment such as cherry pickers and scissor lifts to construction and other sites throughout the North, has more than doubled turnover in the past two years to £2.5m. It aims to increase that to £3.5m in the current year.

Eagle Platforms was founded in 2011 by Jim Haigh, who has worked in the industry since the 1980s and now runs the business with the help of operations director Dan Stewart. The company, which has a fleet of 300 items with six delivery lorries, currently employs 26 staff and expects to create four new jobs in the year ahead.

Jim Haigh. managing director of Eagle Platforms, said: "Eagle Platforms has been growing rapidly in the past few years, which we believe is due in part to the personal and knowledgeable service we offer. The funding will allow us to acquire more plant to ensure that we are always able to meet customer demand and offer prompt delivery, and to take our business to the next level."

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Pete Sorsby, with fund manager, Mercia, added: "Eagle Platforms is a service-driven business with a strong client focus and an excellent reputation in the industry. The company has achieved sustained growth over a number of years. The loan will allow it to meet demand following a number of contract wins, and improve profitability and turnover.

Chris Mangle of Custom Business Finance provided fundraising advice to Eagle Platforms. He said: "Business growth creates the need for additional working capital. In the case of Eagle Capital, we were able to restructure existing finance agreements and reduce their monthly repayments, then secure additional funds from NPIF to allow them to expand the fleet to support their growth plans."

NPIF is  supported financially by the European Union using funding from the European Regional Development Fund (ERDF)

Mark Wilcokson, senior manager at the British Business Bank said: "It's great to be working with Eagle Platforms again after they received NPIF – Microfinance investment in 2019. This further investment shows that NPIF is making a real impact on business communities and strengthening regional economies. We are proud to work in partnership with Mercia and our other appointed fund managers to make a real impact on businesses like Eagle Platforms."

Eagle Platforms website
NPIF website

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News: Y-Accelerator back to fast track businesses in Sheffield city region

An intensive start up programme developed by RiDO in Rotherham is returning to support individuals, teams and companies looking to get a new business idea off the ground.

The Y-Accelerator programme offers the city region's next business leaders the opportunity to benefit from a three-month fast-track development programme featuring expert advice, mentor support and specialist workshops, as well as the chance to pitch to a panel of high-profile investors including Mercia Technologies, Angels Group, Jenton Group and UK Steel Enterprise (UKSE).

First run in 2015, the programme is delivered by a partnership of the Sheffield City Region Growth Hub, Rotherham Investment and Development Office (RiDO), Sheffield Hallam University and entrepreneur in residence from Gripple Ltd. It will be run by a team of highly experienced business specialists from the public and private sector.

Amanda Parris, business growth manager for RiDO, said: "This is a programme like no other available. We want people who think differently, who we can work with to create a viable, scalable business.

"We have a highly experienced team, part of Rotherham's network of business incubators, to support entrepreneurs. The Y-Accelerator programme is open to all industry sectors, although logistics, manufacturing, and automation are especially of interest."

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Gordon McRae, special projects manager for Sheffield engineering firm Gripple, added: "Y-Accelerator's aim is to create new businesses for the economic benefit of the region and so we are really excited to be able to offer this package of business support. The investor pitch event that concludes the programme is a unique opportunity to garner interest from major businesses.

"We're looking for people, teams and businesses who have an innovative idea and the aspiration to build a strong new business in the Sheffield City Region.

"Applicants don't have to be established entrepreneurs either – it doesn't matter if they're a student, in a job or unemployed. It's the idea that counts and having the right attitude and commitment to see it flourish."

Delivered through one-to-one and group sessions, tailored to meet the needs of every candidate, the Y-Accelerator programme's network of advisors, mentors and businesses will provide insight and expertise.

The 12-week programme will run from November 2018 to February 2019 and include business modelling techniques, expert advice, mentors, specialist workshops, market research and individual support to help the ten chosen projects build a strong customer proposition and financial model as well as learn to effectively communicate the business value to customers and investors.

The Y-Accelerator 2018/19 is inviting applications until 31 October 2018 through the Sheffield City Region Growth Hub portal.

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News: AME Group has designs on further growth

AME Group, a leading prototype manufacturer that is based in Dinnington, Rotherham, is set to create new jobs having secured a £100,000 loan.

The innovative company combines a team of creative designers and technical designers who work on new products and create high-specification prototypes using 3D printing technology for customers including Dyson, GlaxoSmithKline, Hornby, Morphy Richards and Unilever.

The business was founded in 1997 after managing director Ian Jones - a mechanical engineering graduate, who cut his teeth working at the Selby coalfield - was made redundant from his job with British Coal.

Now based on the site of the former Dinnington Colliery, AME has secured the funding from NPIF – Mercia Debt Finance, which is managed by Mercia Fund Managers and is part of the Northern Powerhouse Investment Fund (NPIF).

Based at the British Business Bank in Sheffield, the £400m NPIF works with ten Local Enterprise Partnerships (LEPs), combined authorities and Growth Hubs, as well as local accountants, fund managers and banks, to provide a mixture of debt and equity capital to northern-based SMEs at all stages of their development. NPIF is providing funding to fund managers who will offer Microfinance, Business Loans and Equity Finance.

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AME now employs over 20 staff and has a turnover of around £1.5m. It is one of a few firms of its type outside London with a blue-chip client base and the company also offers in-house rapid prototyping using the latest 3D print technology.

The company now plans to strengthen its design team by creating multiple roles over the next 12 months.

Pete Sorsby, investment manager at Mercia Fund Managers (pictured, left), said: "AME has built its business on the strength of its product design process and is regarded as one of the UK's leading and most innovative product design consultancies. The business has helped to bring creativity to the former colliery site and generate new jobs. This funding will help to support its growth and expand the team."

Grant Peggie, director at British Business Bank, added: "SMEs like AME Group form the foundation of the region's future growth and we are pleased to be able to support these businesses by providing the growth finance required. We will continue to work with our fund managers and the wider business communityto support creative and innovative businesses across the Sheffield City Region."

In 2016, AME secured a £20,000 business loan from Finance Yorkshire to enable the group to expand its team and improve marketing. The company also put to use a £30,000 business loan from the regional funding body in 2013.

Last year, the designers at AME won a prestigious Red Dot product design award for their work on JigTech Pro, an innovative device that enables door handles to be fitted in minutes.

AME Group website
NPIF website
Mercia website

Images: NPIF

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News: £400m investment fund targets growing Rotherham businesses

A slice of the new £400m Northern Powerhouse Investment Fund (NPIF) is set to help the growth of SMEs in Rotherham and the rest of the Sheffield city region (SCR).

Based in Sheffield, the NPIF works with ten Local Enterprise Partnerships (LEPs), combined authorities and Growth Hubs, as well as local accountants, fund managers and banks, to provide a mixture of debt and equity capital to northern-based SMEs at all stages of their development. NPIF is providing funding to fund managers who will offer Microfinance, Business Loans and Equity Finance.

Acquiring Enterprise Ventures 18 months ago, Mercia Technologies PLC, has been appointed to manage more than £108m of new venture capital and loan funds through the NPIF. The recently re-branded Mercia Fund Managers is managing a £57.5m NPIF Equity fund, which will provide finance of up to £2m for businesses in Yorkshire, the Humber and Tees Valley and a £51m NPIF Debt fund, which offers loans of £100,000 to £750,000 to SMEs in Yorkshire and the Humber.

The debt finance investment in the SCR is being managed by a familiar face - Pete Sorsby, formerly of RBS, and the fund managers have a strong track record of supporting companies with high growth potential, delivering several notable successes for similar funds, including Rotherham-based Xeros plc.

Launching at the end of February 2017, following a delay due to uncertainties over Brexit, the NPIF has already supported a number of firms in the SCR. Libertine FPE Ltd is using a £500,000 investment to advance its "Linear Power Systems" technology and set up a new headquarters in the city region with product development and testing facilities. And Televideo, a Sheffield-based outside broadcasting company which is one of the UK's leading suppliers of sports programming has secured a £150,000 loan to invest in new 4K equipment.

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The Business Enterprise Fund (BEF) and Finance For Enterprise (FFE - formerly Donbac) secured the tender for providing Microfinance (£25,000 – £100,000) in Yorkshire and the Tees Valley area.

BEF and FFE provided 23 loans in three months since March 2017 using the NPIF scheme, with £1m loaned to SMEs across the region.

NPIF funding is drawn from several sources including the UK Government, the European Investment Bank, the British Business Bank and the European Regional Development Fund.

Sean Hutchinson, senior manager at British Business Bank, said: "The Yorkshire, Humber and the Tees Valley regions have been incredibly receptive to the Northern Powerhouse Investment Fund. It is very positive that Fund Managers have already seen a large number of businesses making enquiries for funding, demonstrating the strong appetite for growth."

In total, more then £10m has been invested across the Northern Powerhouse region.

Jake Berry, Northern Powerhouse Minister, said: "It's fantastic to see that so soon after we launched the Northern Powerhouse Investment Fund it's already provided £10m to support Northern businesses. The Fund is a great example of what can be achieved when the Government and businesses work together and is all part of our plan to boost the northern economy, creating more jobs and attracting investment in the region."

Keith Morgan, CEO of British Business Bank, added: "The North of England has long been a key region for innovation and economic growth in the UK. The Northern Powerhouse Investment Fund is now providing the financial backing to tap the growth potential of businesses across the North, helping both the regional and the national economy.

"Passing this £10m funding milestone in such a short space of time since launch is a fantastic achievement for the fund, our fund managers, and our partners in the 10 participating Local Enterprise Partnerships."

SCR Growth Hub website
NPIF website

Images: NPIF

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