Cooltec Services (York) Ltd
Business Loans Case Study
Cooltec Services (York) Limited specialises in the supply and installation of air conditioning and refrigeration technology. With over twenty years’ experience, the company is an accredited Mitsubishi supplier and installer.
The company
Trading from Elvington Airfield Industrial Estate, Cooltec Services specialises in the supply and installation of fridges, walk-in cold rooms, freezers, refrigerated chillers, cellar cooling systems and ice machines.
Air conditioning products include a variety of units, including high-walls, cassettes and ducted systems. The company also offers a repair and maintenance service to a number of prestigious clients such as Castle Howard, Flamingoland, York Minster, Stonehouse Projects, Marriot Hotels and Best Western.
The Challenge
Managing Director Simon Walton bought the company in 2008 and currently employs four people. He said: “Having recently acquired a complimentary business, Hotelware Supplies Ltd, supplying all aspects of catering equipment and sundries to public house and hotel industries, we are looking to a solid future, but it inevitably means working capital is needed.”
The Solution
A £40,000 Business Loan from Finance Yorkshire will enable the company to invest where it needs to, much quicker than would otherwise have been the case.
The Investment Rationale
Finance Yorkshire Investment Manager Ian Atkinson said: “Cooltec Services serves an impressive range of customers, and its potential for growth is clear. Simon Walton is passionate about the company’s future and we are confident our Business Loan is in very safe hands.”
Future expectations
Cooltec currently serves around 250 customers, from major hotel chains to SME businesses such as pubs, restaurants, hair salons and warehouses; essentially any environment which requires comfortable working conditions. Following the acquisition of a complimentary business which primarily supplies the hotel and pub sector, Cooltec is looking to a promising future.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0845 649 0000.
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire