PPL secures new investment
PLUMBING, electrical and renewable energy training company PPL has secured £850,000 of new investment to fund its expansion plans.
The North Yorkshire-based firm employs 18 people providing a range of training programmes at locations across the country.
It found the new investment with the help of not-for-profit firm Connect Yorkshire and Baker Tilly.
James Booth, managing director at PPL Training (pictured), said: “Without introduction to the Connect Yorkshire’s Programme, and its major contribution to the cost of developing a professional financial plan, we believe that it would have been impossible to secure the additional finance needed to progress from a training school to a Centre of Excellence Academy. The help and advice we received from Hamish and his team, at Baker Tilly Leeds, proved invaluable.
“With this assistance we were able to clearly identify, not only the necessary funding, but also the pay back from the expanded venture. This enabled us to secure £850k from the bank, to support the operational expansion in its early days.”
PPL began trading five years ago and is now established as one of the leading players in the market.
Hamish Morrison, corporate finance partner at Baker Tilly, said: “Despite what remains a tough economic environment this clearly demonstrates that funding is available for high quality companies with strong management teams.
“Over the past 12 months we have seen an increasing appetite from debt and equity funders to support the growth plans of companies although it is essential that all opportunities are supported by good quality financial information and a detailed business plan. It is really pleasing to have been able to help PPL to secure the funding that will allow it to go and achieve the next stage of their expansion plans. “
Andy Chaffer, Connect Yorkshire’s programme manager, said: “Connect’s coaching programme is designed to help high growth businesses needing finance by matching them with approved and professionally qualified coaches.
“Hamish Morrison and team at Baker Tilly did a superb job coaching PPL Training to receive investment and we are delighted to have played a role in bringing this significant new investment to a local company.”
