KRL fit for future with investment

A PHOTOCOPIER specialist which has been trading for more than 25 years is gearing up for future success after revamping its operations.

East Yorkshire company KRL Group, which recently underwent a management buyout, sells and services photocopiers to customers across Yorkshire, the Humber and parts of Lincolnshire.

Business loans totalling £130,000 from Finance Yorkshire, combined with an invoice finance facility from Lloyds TSB Commercial Finance, have helped KRL move on from the MBO by modernising the business.

KRL managing director George Baker said: “In 2009 my two business partners wanted to sell up but I decided to go it alone. However the recession meant it was the worst time to try and do an MBO and we struggled to get the right finance.

“However, last year we began working with Finance Yorkshire and Lloyds TSB.  We had to do a lot of developing to bring what was very much a lifestyle business into the 21st century and Ian Atkinson from Finance Yorkshire helped us bring those systems into play.”

KRL has updated its back-up and disaster recovery strategy and says a new integrated software system will also improve efficiency.

“Many of these new systems will save us money because we will be able to carry out tasks at our headquarters rather than drive out to places, which is a big help in the face of rising fuel costs as well as lost man hours,” said Baker.

The investment will also be used to help KRL explore new markets, expand a Leeds-based office, fund training for engineering, sales and administration staff, and assist with stock purchase for the company’s growing sales order book.

Mr Baker added: “While we have modernised, we want to stay local and keep people’s jobs here. Other companies may have moved operations to London and lost local jobs but we wanted to avoid that.

“Our focus is very much a regional one and the support we have received means we can reinvest to protect the workforce.”

Mr Atkinson, Finance Yorkshire investment manager, said: “George Baker and sales director Glenn Parrish make a good team and their determination to succeed is obvious.

“They have done a great job in developing the business after taking over the company and, while that may not always have been easy to manage, they have effectively transformed operations.

“KRL is now well placed to bring forward many of its growth plans and advance the company at a faster rate than would have been possible.”