Hull’s KRL Group eyes £5m turnover following growth period

Hull-based KRL Group is targeting £5m turnover after establishing itself as one of the largest suppliers of print and copier machines across the North of England.

Supported by Finance Yorkshire since 2010 when its turnover was £2.1m, KRL Group has grown in staff numbers from 18 to 25 in the last five years and has more than 2,000 clients.

A total of £220k has been invested in the company by Finance Yorkshire, providing capital to both kick-start KRL Group’s expansion plans and support its continued growth.

George Baker, KRL’s managing director, said: “At the time I took on the business, we needed investment to put in the technology and infrastructure to show how professional we were and that we could deliver for clients. Finance Yorkshire supported us from the beginning and their input has been fantastic in helping us get the business to where it is today.”

Finance Yorkshire’s investment enabled KRL Group to move to a new and larger base in Malmo Road in 2014.

KRL Group now has a presence in Bradford, Manchester and on the East Coast which has enabled the company to win and serve larger accounts. New clients include Rix Petroleum and MKM Building Supplies nationwide.

George said: “Finance Yorkshire’s support helped establish us regionally enabling us to position ourselves alongside the bigger players in the print and copier machines sector. We’re up to £3m turnover and I’d like to be at £5m within the next few years.”

Alex McWhirter, Finance Yorkshire’s chief executive, added: “KRL Group was one of the first companies we invested in and it is very rewarding to see how our total investment has enabled George and his team to take the business on, grow it, expand into new customer areas and create valuable jobs. KRL Group is a great SME success story.”

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.

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