Family boiler business heats up with investment
Published: 8th February 2016
Left to right: - Keith McCluskey, Jamie Bashall and John Bashall (JBC Industrial Services), Paul Gower (Finance Yorkshire), Geoff Surcliffe (JBC Industrial Services).
A family business, which services and repairs industrial boilers and combustion equipment, is planning UK-wide expansion after receiving a £500,000 funding boost from Finance Yorkshire.
JBC Industrial Services, which has offices in Hull and Leeds, was formed in 1978 by John Bashall. The business, now owned by his son Jamie, delivers a guaranteed, UK-wide, 24/7 call out service for clients across a range of industries.
JBC’s clients include manufacturing giants Bentley Motors, Warburtons and Coors’ Brewery as well as many SME’s.
The business has a turnover of £6 million and employs around 70 people. Recent growth led to the opening of several regional offices, enabling JBC to offer an enhanced scope of engineering services.
JBC has now received a £500,000 investment from Finance Yorkshire’s Equity Linked Fund, which includes profit participation. This means the company can receive funding without selling equity.
The money will be used to accelerate the nationwide expansion, invest in technology to drive efficiency and customer service and create new jobs.
The ‘Ecosafe’ digital control system launched in 2010 will be developed to include additional features capable of controlling and monitoring boilerhouses.
Using a new remote real time system, JBC’s engineers can monitor and analyse boilers from any location. They can advise customers on how to reduce energy costs and increase efficiency by upgrading their equipment.
Jamie Bashall, Managing Director of JBC Industrial Services, said: “Our key sector is food manufacturing, where a reliable supply of hot water and steam is crucial for production. If they lose production, companies can lose huge amounts of money.
“We offer a free, 24/7 service across the UK. There is always an engineer available, no matter what time of day. This is one of our competitive advantages.
“We have identified gaps in the market for a remote monitoring and outsourcing solution and will be introducing some exciting new technology next year.
“We want to push for growth and develop our market share nationally.”
Paul Gower, Investment Director at Finance Yorkshire, said: “We have been aware of JBC for many years and continue to be impressed by its growth, led by an experienced management team. The company is expanding its geographic reach and introducing innovative products to the market, so we predict a bright future.”
JBC Industrial Services was advised by Sarfraz Khan of Isaacs Corporate Solutions and Chris Schofield of Schofield Sweeney. Finance Yorkshire was advised by Ed Brown and Lynn Cantwell of Walker Morris.
To date, Finance Yorkshire has invested over £100 million in Yorkshire and Humber, enabling companies to increase their turnover by £366 million and attract a further £257 million from other private sector sources. Through this activity, Finance Yorkshire investment has helped those SMEs to create and safeguard more than 11,000 jobs in the region.
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 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, UK Government and the European Investment Bank. Finance Yorkshire is also supported by the Regional Growth Fund.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.
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