Security firm locks down growth plans after funding boost
A Hull-based security business is on a sure footing for future growth ahead of its 25th anniversary next year after a £150,000 funding boost from Finance Yorkshire.
Established in 1987, John Moore Security Limited has grown over the years thanks to a series of trade acquisitions, expanding into areas including Doncaster, Brigg and Cleethorpes.
The company, which specialises in fire alarms, CCTV, intruder alarms and access control systems, recently received BAFE accreditation for its commitment to service excellence in fire protection.
With its sights set on further expansion, John Moore Security (JMS) turned to Finance Yorkshire.
John Moore said: “There have been a number of developments that the Finance Yorkshire funding has helped with.
“We have centralised the administration and service control at Group Head Office operations in Hull. We are also expanding those headquarters which will help protect current jobs and hopefully create more in the future.
“Recent acquisitions have meant we require more working capital while these businesses are integrated into the JMS Group. As we grow we need working capital behind us to support us which Finance Yorkshire is helping to provide.
“We are also looking at a number of internal improvements such as management and customer service training programmes and improving our fire alarms offering even further.
“Finance Yorkshire were very practical and easy to deal with. We provided them the information, had a meeting and a decision was made quickly afterwards allowing us to focus on running the business.
“We have experienced a very organic expansion from our traditional heartlands and the company is looking to grow gradually and carefully to expand its operating area even further so it is reassuring to have the funding behind us to help support those future growth plans.”
JMS were introduced to Finance Yorkshire by Martin Overfield, a partner at Smailes Goldie Chartered Accountants in Hull and Barton.
He said: “I worked with Ian Atkinson previously when he was with Partnership Investment Finance and as a result knew that Finance Yorkshire would be able to help us put together the right funding package for JMS.
“Support from Finance Yorkshire is even more relevant than ever in times like these where access to lending can be difficult.”
Finance Yorkshire Investment Manager Ian Atkinson said: “JMS is a big player now across Yorkshire and the Humber, but was finding it difficult to raise the additional working capital it required to continue that momentum.
“This is a perfect example of how Finance Yorkshire can step in to assist companies by providing a significant business loan that will plug the gap in financing that many of our regional businesses face.”
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 £13 million in companies throughout Yorkshire and the Humber.
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