Office supplier makes Yorkshire acquisitions
A Bradford office machine supplier is forecasting 20 per cent growth in the next year after acquiring dealerships across Yorkshire.
Commerce Business Systems Ltd based in Bradford, supplies and services photocopiers, printers and fax machines to businesses across the region. With takeover deals brokered with Imaje Systems Ltd in Sheffield and Yorkshire Copiers in Leeds, turnover is predicted to rise from £1.4m to £1.7m within 12 months.
Managing Director John Green started the company in his home with no equipment in 1992 and since then Commerce Business Systems has taken on 14 employees and has 1,000 machines on its books.
The company negotiated recent deals after receiving a £30,000 business loan from Finance Yorkshire.
John said: “We are very sales driven. I’m from a sales background and still like to keep a hands-on approach with clients. We are constantly trying to push the business forward which is why the loan from Finance Yorkshire is appreciated so much.
“Without Finance Yorkshire we would have been very tight on cash flow. The loan has prevented us from losing a profitable acquisition and has accelerated growth for the company.
“Finance Yorkshire was fantastic. The Business Loan team were very quick to react to our application and made everything very straightforward for us. Within 48 hours of filling in an application form we were told that we were successful. It’s great for the company as well as we must have proved we were financially viable.”
The company will now look to grow its customer base in South Yorkshire.
Ian Atkinson, Investment Manager at Finance Yorkshire, said: “We’re thrilled to help with the growth of Commerce Business Systems Ltd, a company which shows great potential. I’m sure its strong sales team will drive the company forward while still maintaining its key priority of customer service.”
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.
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