‘Atomising’ business growth for Sheffield firm
ATOMISING Systems is set to move forward with growth plans after securing a £1m loan from South Yorkshire Investment Fund (SYIF).
The Sheffield-based firm, which offers a range of technologies for the manufacture of metal powders, required financial support to enable them to build and ship to a client in Germany.
SYIF provided the company with a £100,000 loan in December and within three months Atomising Systems repaid the money back on completion of the work with the European firm.
The firm, which was established by John Dunkley in 1992, has seen annual turnover increase from £500,000 five years ago to more than £3m and the company has become the leading supplier of atomising technology and equipment to the global metal powder industry.
As a result of this growth the company now employs 20 staff and has a successful apprenticeship scheme run in association with Rotherham College and Metskills UK.
The money provided by SYIF was their second £100,000 investment in Atomising Systems after initially providing financial backing in 2002.
Simon Dunkley, who is financial director at the family run firm, said: “Due to a great deal of development work needing to be done here in Sheffield prior to the shipment of the project it was vital for Atomising Systems to be able to find some short-term funding to help finance the required working capital.
“SYIF has had a long established relationship with the company and they were keen to step in to support us. Now that the project is complete we have been able to re-pay the loan back in very quick time.”
He added that Atomising Systems has a global customer base, although the majority of its contracts are awarded in China.
“The Far East, particularly China, is a massive market for the company and has been ever since we were founded. It has been our ability to reach out to customers all over the world which has seen the business grow,” he continued.
Andy Chaffer, business director at SYIF said: “We are pleased to continue our relationship with Atomising Systems with this second investment in the company.
“The loan highlights how flexible SYIF can be in when South Yorkshire companies quickly need additional working capital to support the growth of the business.”
Martin Weatherall, from Hawsons, Sheffield has been a mentor for Atomising Systems, and the company received additional funding from Natwest Sheffield in a deal led by Martin Gorman.
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
