AME Group Ltd
Business Loans Case Study
Sheffield-based AME Group Ltd design new products and create high-specification prototypes for large companies or individual inventors.
The company, which is based on Carrera Court, Dinnington, has developed children’s toys, for example Scalextric cars and Hornby trains, as well as medical equipment and electronic beauty products.
Former coal miner Ian Jones established the company in 1996.
Ian said: “We offer product design consultancy and a wide range of rapid prototyping techniques. Our customers want prototypes to test parts of their design or to show them off and gauge interest. Many of the models have to be very high quality and like ‘The real McCoy’.
“We work in a niche industry and what makes us unique is the technology we have. The five specialist laser machines we run, which are worth between £100k - £250k, can work in very fine detail but because they are also expensive to buy, many companies use our services as they couldn’t justify having this kind of equipment in-house.”
Ian said he turned to Finance Yorkshire for assistance when one of AME’s laser machines, needed repairing and for working capital to help fund the company’s rebrand and new website.
AME Group, which has worked with Dyson, Proctor and Gamble, Hornby and Jaguar, received a £30,000 Business Loan from Finance Yorkshire to fund new equipment which will allow them to carry out work many competitors are unable to.
The Investment Rationale
Finance Yorkshire Portfolio Manager, David Ward, said: “The business has developed a top reputation by focusing on achieving the right balance between speed, quality, and cost which has allowed it to retain some high-profile blue chip clients.”
David added: “The loan will help AME continue its work and complete the repairs to the five year-old laser which will mean the team can work quicker, continue delivering great results and attracting big name brands to the region.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire