Business Loans Case Study
Pinnacle Marquees was established in 2009 and supplies its marquees and other structures for corporate, education and large private events across the UK.
Pinnacle was launched by Managing Director Tim Betteridge after a career in venue and event management. Tim runs the business – based at Market Weighton, East Yorkshire – with three colleagues, supported by seasonal workers during the busy summer period. Clients in Yorkshire include Harewood House, Leeds, and Ripley Castle.
Pinnacle has grown the business year on year and needed further investment to support its expansion plans for the next three to five years. Importantly, the company needed capital investment to enable the purchase of more marquees and structures and a lorry of its own – it had been hiring vehicles to this date.
Finance Yorkshire Involvement
A £30,000 Business Loan has met Pinnacle’s immediate need for capital funding. Tim said: “We have to the point where we want to push on and invest further in the company. The investment from Finance Yorkshire will enable us to buy more equipment to satisfy the sales that are coming through.”
The Investment Rationale
Finance Yorkshire Investment Manager Ian Atkinson said: “Pinnacle has established itself as a strong brand in the event marquee hire sector and is now well place to take advantage of new opportunities to grow the company and increase employment.”
Pinnacle’s reputation for high quality customer service means it gets a lot of annual repeat business, giving it the sales foundations on which to build year on year. It has plans to take on more permanent staff as it grows over the next three to five years.
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