Business Loans Case Study
Pinheiros buys and sells high residual, pre-owned printing and post press machinery by industry leading brands such as Mitsubishi, Heidelberg and Kolbus.
The firm was formed in 1998, by David Brown, Julian Brown and David Pickup and now has several satellite offices in Europe.
The company buys mainly from Europe and North America and sells throughout the world, with its principal markets being Asia and South America. Pinheiros exports approximately 200 machines every year with an annual turnover circa £13 million.
The company had outgrown its existing premises so in 2013 decided to expand into a new state-of-the-art headquarters that reflected its standing as a European leading supplier of pre-owned graphic arts equipment.
Pinheiros Director, David Brown, said: “The new site needed to provide us with the space and facilities to comfortably expand the head office team as well as storage space for machinery.”
Pinheiros received a £60,000 Business Loan from Finance Yorkshire to continue its growth and help fund the move to a new £400,000 facility on Dewsbury Road, Ossett.
The loan means the company will be positioned in Wakefield – a global hotspot for the buying and selling of pre-owned machinery.
The Investment Rationale
Ian Howson, Finance Yorkshire Investment Manager, said: “Pinheiros is an established company with a mature client based and consistent profit record.
“The office move had already received financial backing from company directors and the bank, but there was still a funding gap.
“We were happy to come together with the other lenders to help fill the void as we see a great future for the company.”
David added: “The loan has enabled us to make a strategic move to a site which will add value to our current operations. It will provide a professional and comfortable environment for our expanding team, as well as enabling us to securely store equipment on site for ourselves and for third parties.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire