Finance Yorkshire event to help Hull and East Yorkshire businesses tap into investment
HULL firms are being urged to find out how they can tap into investments to help their business grow.
Finance Yorkshire provides seedcorn, loan and equity- linked investments, ranging from £15,000 to £2m to help small and medium-sized businesses to meet their funding requirements for growth and development.
This month, it will be hosting an event at the Mercure Grange Park Hotel in Willerby to help East Yorkshire firms find out how they can take advantage.
Envirodoor Limited is the first East Yorkshire business to receive an equity-linked investment from Finance Yorkshire after securing a £600,000 to continue its ambitious growth plans.
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Mark de-Villamar Roberts, managing director of Envirodoor, said: "We are one of Europe's leading specialist door companies and the investment from Finance Yorkshire has provided the support we needed to maintain our position as a key player in the European market and to grow.
"The investment will be used to support the company's marketing, recruitment and research and development programmes."
The international manufacturer and supplier of specialist industrial and hygienic doors operates throughout the UK and Europe.
Together with its Scandinavian sister company, Interdoor AB, the Hull firm has built up more than 40 years of continuous trading experience.
Its key market sectors are the food, automotive, pharmaceutical, marine, energy, hospital, defence and the film and TV sectors, and its customers include some of the most well known blue chip companies in the world.
Envirodoor was advised by the Leeds office of Dickinson Dees and Finance Yorkshire was represented in the deal by Walker Morris, also of Leeds.
Andrew Burton, who heads up the equity team at Finance Yorkshire, said: "There has been a significant upturn in Envirodoor's order book over the last 12 months, along with a requirement for further developmental work across its impressive product range.
"As such, a mezzanine finance package was considered most appropriate for their funding needs. It will help the company to continue growing its distribution network in the UK and across Europe and to build relationships with key partners in the industry."