Hot off the press Finance Yorkshire funds move
A European market leader has received funding for a new state-of-the art office in Wakefield.
Pinheiros, which supplies and exports pre-owned printing and post press machinery, is moving to the purpose built office and warehouse facility after receiving a loan from Finance Yorkshire
The company, which has been established for 15 years, exports more than 200 machines every year to its client base throughout the world, turning over in excess of £13 million.
Pinheiros has been awarded a £60,000 Business Loan from Finance Yorkshire to help fund the move to the new 2,500sq ft office space on Dewsbury Road, Ossett
David Brown, Pinheiros Director, said: “The loan has enabled us to make a strategic move to a site which will add value to our current operations.
“Historically, Wakefield has been a hot-spot for operators in our industry and so this move will make it easier for our many international customers to visit us.
“It will provide a professional and comfortable environment for our expanding team and enable us to securely store equipment on site for ourselves and for third parties.”
David added: “The new premises have been designed to reflect the aspirations of Pinheiros and its team to remain a world leading brand in the supply of printing and post press machinery and to match the expectations of our worldwide client base.”
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.”
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The project is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from Yorkshire Forward’s Single Programme, and £45million match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or ring 0845 649 0000.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire