An international manufacturer and supplier of specialist industrial and hygienic doors has secured a £600,000 investment to continue its ambitious growth plans.
Envirodoor Limited, based in Hull, East Yorkshire, operates throughout the UK and Europe and together with its Scandinavian sister company, Interdoor AB, has built-up more than 40 years of continuous trading experience in the specialist door market.
Envirodoor’s key market sectors are the food, automotive, pharmaceutical, marine, energy, hospital, defence and the film / TV sectors and its customers include some of the most well known blue chip companies in the world.
Mark de-Villamar Roberts, managing director of Envirodoor, said:
We are one of Europe’s leading specialist door companies and the investment from Finance Yorkshire has provided the support we needed not only to maintain our position as a key player in the European specialist door market but to grow. The investment will be used to support the company’s marketing, recruitment and research and development programmes.
Finance Yorkshire was represented by Walker Morris of Leeds in the deal, with external due diligence carried out by RSM Tenon. The Leeds office of Dickinson Dees LLP advised Envirodoor.
Andrew Burton, who heads up the Equity team at Finance Yorkshire, said:
There has been a significant upturn in Envirodoor’s order book over the last 12 months, along with a requirement for further developmental work across its impressive product range.
As such, a mezzanine finance package was considered most appropriate for their funding needs. It will help the company to continue growing its distribution network in the UK and across Europe and to build relationships with key partners in the industry.
Envirodoor is the first business in East Yorkshire to receive an Equity Linked investment from Finance Yorkshire.
We worked closely with Finance Yorkshire to find a funding package that suited our business needs and we are delighted with the result. We would recommend businesses in Yorkshire to speak with the Finance Yorkshire team to see if there is a funding package available that meets their requirements.”
In addition to mezzanine finance, 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.
Meanwhile, Finance Yorkshire is staging an event in Hull to discuss how businesses can gain investments for growth. The annual event will take place at the Mercure Grange Park Hotel in the city on March 21 at 8am.
Officials from Finance Yorkshire will be in attendance along with representatives from the Local Enterprise Partnership. To register a place at the free event visit www.finance-yorkshire.com.
Finance Yorkshire 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.