KRL Group eyes new markets following investment from Finance Yorkshire
Print and copier specialist KRL Group is targeting new domestic markets after a successful relocation to larger premises in Hull.
A £40,000 Business Loan from Finance Yorkshire enabled the company to make the move to its new 9,000 sq ft base, Billwin House, on Malmo Road.
The modern premises bring KRL Group’s sales, warehousing and maintenance teams under one roof to service a growing customer base – the company has 2,000 clients, more than 3,000 print and copier machines in operation and works with leading manufacturers including Konica Minolta and Ricoh.
KRL Managing Director George Baker explains: “The new premises provide us with a much more modern environment from which to operate. It also gives potential new customers the correct impression of KRL Group – that we are a professional, modern, expanding business able to serve their needs with the support of excellent customer service.”
And building from its new base, KRL Group, which has a turnover of £2.5 million, is now targeting new areas away from its traditional M62 business corridor to increase sales and create growth. It plans to expand its satellite office in Bradford and open a new one on the East Coast while seeking to gain a foothold in the Preston area.
Mr Baker said: “Part of the reason for moving to the new premises was to enable us to increase the geographic spread of the business. We want to develop the East Coast and Lancashire areas over and above our heartland which is the M62 corridor, north to Newcastle and south to Nottingham.”
Finance Yorkshire has previously supported KRL Group through its Business Loan fund. Mr Baker added: “What’s always impressed me about Finance Yorkshire is that the team are prepared to come out and see you and listen to what you’re trying to do as a business and get a feel for the company and where you’d like to take it. You can’t ask for more than that.”
Mr Baker led a management buyout of KRL Group five years ago and employs 25 people, most of whom are based in Hull. Finance Yorkshire Investment Manager Ian Atkinson said: “We were keen to further support George and the team at KRL – the company is a great example of a successful regional business determined to attract more customers to benefit from its professional and high quality service.”
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 UK Government and £45million match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0845 649 0000.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire