Scaffolding company hits new heights with acquisition and funding boost
A Sheffield scaffolding company has secured funding for further growth following its acquisition of a business in Barnsley.
Hi-Point Access has raised £250,000 from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II).
The funding will provide additional working capital and enable it to invest in new equipment following its acquisition of Gap Scaffolding Services.
Hi-Point, which has doubled its turnover since 2021, employs over 50 staff at its base in Sheffield and serves clients including Sheffield City Council, Sheffield United, the city’s two universities, the Utilita Arena and Wakefield Council’s partner Robertsons Facilities Management.
It provides scaffolding hire and mobile elevating platforms, as well as building maintenance and roofing services.
Founded in 1992 by brothers Steve and Chris Blantern, it is now run by Steve’s sons Simon and Matthew, his daughter Carly Turley and her husband Garry.
The acquisition of Gap Scaffolding Services will expand HI-Point’s presence in Yorkshire.
It also provides an exit for Gap’s founder Steve Griffiths, who set up the company in 2003, and secures the jobs of the seven staff, who will continue to operate from the Barnsley site.
Carly Turley, finance director of Hi-Point Access, said: “It’s great to welcome aboard the experienced team at Gap and to expand our footprint with a base in Barnsley.
“The funding from Mercia and NPIF II will enable us to make the most of it by providing additional capital to take on new projects and buy new equipment.
“We look forward to continuing our expansion throughout Yorkshire and beyond.”
Andy Tyas, of Mercia Debt, said: “Hi-Point is an established business that has had a new lease of life under the second generation of family members.
“Over the past few years, they have expanded the range of services and increased turnover, and the acquisition of Gap is another milestone.
“We are pleased to provide the funding they need to continue their growth journey.”
Lizzy Upton, senior investment manager at British Business Bank, added: “It’s good to see NPIF II backing a thriving, family-run business, that’s expanding across Yorkshire.
“Hi-Points extensive reach across a number of key venues and institutions makes it integral to our region’s vibrant cultural economy, and its why supporting businesses like this is so important to us.”
Harry Bushell of Hentons Corporate Finance in Sheffield advised Hi-Point on the acquisition. Kate Darbyshire of Lloyds Bank introduced Mercia to Hi-Point.
