Finance Yorkshire makes investment
AN architectural systems company is looking to grow its business and workforce following a finance boost.
Senior Architectural Systems, based in Denaby Main, Doncaster, supplies a range of fenestration systems for fabricators, architects and contractors working on commercial building projects.
Established in Bradford in 1991, Senior Architectural Systems moved to its Doncaster base in 2002 and also has factories in Wales and Scotland.
The company has supplied products and systems for buildings across the UK including the new Harrogate Grammar School, York University, the Grand Pier in Weston-Super-Mare and Holiday Inn Express in Sheffield.
Finance Yorkshire has loaned £100,000 to the company, which exports to Ireland and the US.
Managing director Lennart Jonsson said: “Last year we had a turnover of £25m but this year we should be closer to £30m, so looking ahead we’re hoping to employ more people and invest further in the business by developing new product lines.
“We are using the funding to buy extra stock for the glass business and for general cash flow purposes. The market is very tight at the moment so cash flow is more of an issue for all sorts of businesses which means that our customers may not be able to pay us as promptly and that can have a knock-on effect.”
Finance Yorkshire portfolio manager David Ward said: “Cash flow requirements are one of the main reasons why businesses encounter difficulties, which underlines the importance of Finance Yorkshire‘s role in assisting viable businesses with their growth and ambitions.
“We’re very pleased to have been able to develop further our relationship with Senior Architectural Systems.”
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m.
