Member Article

Refrigeration firm from Leeds secures £100k investment to expand

Garforth-based refrigeration business Cooltherm has seen a £100k investment from Finance Yorkshire, which will help it support a fast-growing order book and recruit new staff.

Cooltherm, a refrigeration contractor, primarily for the food processing industry has grown its turnover by more than 30% in the last year is set for further growth following an investment from Finance Yorkshire and Barclays.

Established in 1998, Cooltherm employs a workforce of 20 and has experienced rapid growth within the last five years, having increased its turnover by 32% in the year to March 2014.

Cooltherm director Jim Dawber said: “The business has grown quickly in recent years, particularly over the last 12 months, so this funding from Finance Yorkshire comes at a crucial time.

“It will ensure we maintain our growth and allow us to recruit key people who will help drive the business forward.”

Finance Yorkshire investment manager Andy Chaffer said: “Cooltherm is an established and profitable business, with a very strong management team in place.

“Its growth in recent years is testament to their experience and we are looking forward to seeing them take Cooltherm to new heights in the months and years ahead.”

Barclays senior business banking manager Andrew Parmenter said: “Cooltherm has an experienced and ambitious management team with a great reputation in the food industry.

“The new funding line will provide the business with the flexibility to broaden their product base and the future looks bright for this well-managed company.”

This was posted in Bdaily's Members' News section by Clare Burnett .