SYIF deal boosts PBS Group
A Yorkshire-based construction company has seen its turnover increase by more than 40 percent after gaining backing from the South Yorkshire Investment Fund (SYIF).
The PBS Group, which specialises in refurbishment of public sector buildings, has seen turnover rise from £4.4m to £6m during the last financial year.
The company was assisted by a £50,000 loan from the SYIF, which boosted its working capital and enabled the expansion of the business’ operations.
The funding has also enable the company to create partnerships with clients such as Henry Boot, The Wates Group and Bramall Construction.
The agreement with the Wates Group means the company will be involved in the fitting of kitchens, bathrooms, renewing central heating and the rewiring of 200 properties in Doncaster.
PBS, which is in its 12th year of trading, was introduced to SYIF by Graham Walker from the Royal Bank of Scotland’s Commercial Banking team.
Robert Daniels, managing director of the PBS Group, said: “The support from SYIF and the Royal Bank of Scotland is proof of how networking can benefit any business.
“PBS now plans to consolidate its social housing developments in Doncaster and continue to diversify and expand its relationship with Portakabin. It will also be starting work for the Ministry of Defence.”
© Crimson Business Ltd. 2008