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Smailes Goldie Plays Key Role in Firm's Expansion
13th February, 2012
As businesses are struggling to raise finance to secure their future, Smailes Goldie has successfully sourced £150,000 from Finance Yorkshire to help a Hull-based security firm with plans for expansion.
John Moore Security, which specialises in fire alarms, CCTV, intruder alarms and access control systems, will celebrate its 25th anniversary next year. Martin Overfield, partner at Smailes Goldie, who set up the deal, said support for local businesses like this is vital in today’s market. He is pictured here (third from the left) with Sally Moore and Lee Holgate from JMS and Ian Atkinson, Finance Yorkshire.
Martin Overfield said:
"Since 2008, it has become increasingly difficult to access finance and banks have become much more cautious about lending. As a firm, we try to keep ourselves abreast of avenues of finance other than banking.
"The loss of face-to-face advisors following the demise of Business Link is also an issue, so it is vital that businesses are in touch with people who are aware of schemes that they might benefit from."
“I worked with Investment Manager 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.”
Having grown over the years thanks to a series of trade acquisitions, expanding into areas including Doncaster, Brigg and Cleethorpes, John Moore Security say the funding is helping them enormously.
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.”
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.”
For more information or advice, please contact Smailes Goldie Chartered Accountants on Hull 01482 326916 or Barton 01652 632927.
