Member Article

£200k investment to boost expansion plans at Hull-based JD Engineering

Family-run JD Engineering, a garage equipment company, has received a £200k investment from Finance Yorkshire, which will allow the Hull-based company to cope with the pressures of increased demands for its services.

Finance Yorkshire has invested in JD Engineering, allocating finance from its Business Loan fund, to primarily support the additional working capital required to fund its expansion.

The loans have enabled JD Engineering to almost double turnover from £2.3m to £4.2m in the last two years and this figure is set to top £5.5m in 2015.

The funding has also enabled the company. which employs 43 people, to bulk-buy high quality, imported equipment and invest in stockholding. JD Engineering is now the sole UK distributor for Rousseau Metal, a Canadian manufacturer of tool boxes and fitted cabinets for modern workshops.

The firm, which trades as JD Garage Equipment, works with international manufacturers to source the latest equipment, while an in-house computer-aided design (CAD) team designs garage layouts.

The company was established to provide used equipment to smaller, owner-occupied garages. But James and Nicolas Everard, the sons of founder John Everard, have driven an expansion into the design and fit-out of new dealer group workshops to manufacture specifications for some of the world’s best-known car marques.

JD’s customer base includes Audi, Volkswagen, BMW, Renault, Lamborghini and Porsche, working with Sytner, Pendragon, Vertu, BMW UK, Renault Retail Group and Motorline.

Director James Everard said: “The business has transformed in recent years and we are now importing equipment from all over the world as we look to meet increasing demand for builds across the UK.

“The speed at which we have grown presents its own challenges but we have been able to employ additional engineers to ensure that we are well represented in the areas that our customers need us.”

Finance Yorkshire Chief Executive Alex McWhirter said: “Our Business Loans exist precisely to benefit companies such as JD Engineering, which needed access to finance to buy stock and meet increased demand. I’m pleased to see that they are rising to the challenge of meeting the requirements of a growing order book.”

Finance Yorkshire Investment Manager Grahame Lunt said: “JD Engineering is a well-established business with young directors who are prepared to drive it forward. They are well set to continue the work done over the past four years which has seen the business turnover grow by £1m each year to £5m.”

Finance Yorkshire’s investments to date have created and safeguarded 10,196 jobs across Yorkshire and the Humber, increased turnover by £309 million and generated private sector leverage of £179 million.

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