SYIF loan helps TASC expand
A SHEFFIELD-BASED construction company is expanding thanks to a £300,000 investment from the South Yorkshire Investment Fund (SYIF).
TASC Group Construction , based on the Dore Industrial Estate, Sheffield, specialises in diamond drilling and fire protection solutions.
The company is currently involved in a number of high profile projects across the country, such as the £200m St Stephens retail development in Hull, where it provided diamond drilling and thermal insulation services.
Steve Copley, managing director of TASC, said: “We began as a diamond drilling company in 1998, but since then we have expanded our business to specialise in fire protection solutions too.
“We provide steel coatings and seals that prevent fire and smoke from causing damage to a building and its occupants. For example, our Curtain Walling Closure Seal is capable of stopping a fire spreading from floor to floor – ensuring the safety of the people in there.”
The investment from SYIF is TASC’s second loan, after the company received £385,000 from SYIF in 2006 to assist a management buy out.
Mr Sorley said: “This latest investment of £300,000 is a wonderful boost for the business – it’s helping us to move into bigger premises on the industrial estate and in turn, expand our target market.
“SYIF have always been there to help us, they’ve been brilliant. They are always positive with us and I think that during these difficult economic times that’s a huge asset – SYIF give longevity to companies across the region.
Debbie Sorby, portfolio manager at SYIF said: “TASC is a well established and well managed business with a strong reputation in the industry for good quality and service. The business has a good customer base together with a strong sales pipeline for the coming year.
“We look forward to watching the company grow and wish them the best of luck for the future.”
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
