Raising a toast to expansion after double investment

Left to right — David Ward, Finance Yorkshire Portfolio Manager with Patrick Morton and Susan Morton, Directors of Abbeydale Brewery

A South Yorkshire brewery is raising a toast to a successful period of growth, after a £100,000 investment from Finance Yorkshire.

Sheffield-based Abbeydale Brewery, which was founded in 1996 by Patrick Morton and father Hugh and produces more than 120 barrels per week, is set to increase production even further to grow well beyond its micro brewery roots to a brewery producing 250 barrels per week.

Finance Yorkshire predecessor South Yorkshire Investment Fund (SYIF) helped the company with a cash boost in 2006 when the brewery, on Aizlewood Road, Abbeydale, invested in a brand-new brew plant. This was followed by a Finance Yorkshire investment of £100,000 in September 2011 to enable Abbeydale Brewery to support its growth plan.

A mortgage from Natwest allowed the company to purchase an industrial unit next to the property they already owned, and the boost from Finance Yorkshire bought the equipment to fill the extra space and enabled the brewery to take on a new member of staff.

Susan Morton, Director of Abbeydale Brewery alongside husband Patrick, explained: “The extra space and new equipment will allow us to increase our capacity and make us more efficient and as a direct result of the investment we have been able to take on a new employee. We now have thirteen members of staff and we are pleased to bring job opportunities to the community.

“Times are difficult in the pub trade and the investment offered by Finance Yorkshire can really benefit small breweries, or any other small businesses which need funding. We are seeing our business grow and it is thanks to the investment. It is great that Finance Yorkshire is there to help other businesses like us.

“David Ward from Finance Yorkshire was incredibly helpful and I would recommend Finance Yorkshire to any other businesses – in fact I already do. Graham Walker from NatWest's Commercial Banking team helped us secure the mortgage to buy the new unit.”

David said: “Patrick and Susan Morton have a clear growth plan for Abbeydale Brewery and thanks to investment, firstly from SYIF and then from Finance Yorkshire, they have been able to see that plan come to fruition.

“It is fantastic to see a small business grow and become a valuable provider of jobs in the community. We were delighted to be able to invest in Abbeydale Brewery to assist its expansion and we hope Patrick, Susan and the team continue to experience success.”

Helping a range of small and medium sized businesses to meet their funding requirements for growth and development, Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m.

Finance Yorkshire has invested over £16 million in companies throughout Yorkshire and the Humber since August 2010.

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