Doncaster firm boosts business with Barclays £500k Northern Powerhouse funding
Doncaster-based Highfield Group has revealed expansion plans with the director-led purchase of new premises with funding from London-headquartered Barclays.
Established in 1982, the Highfield Group is located at Heavens Walk, Doncaster. The business is now relocating to The Icon, First Point, after the property was purchased by a consortium of the group’s directors, led by chief executive Jason Sprenger and managing director Chris Sprenger.
Chris said: “We’ve been looking for new premises to expand the business so we’re delighted to secure the well-known site known as The Icon in Doncaster.
“We’re delighted to be able to benefit from the Barclays Northern Powerhouse fund and securing the new premises is pivotal for our future growth plans.”
The £500m Northern Powerhouse Growth Fund was established to inject investment into businesses across the north of England and is intended for SMEs across the Northern Powerhouse region.
This includes established businesses with ambitious growth plans, startups with high growth potential, companies with early-stage equity funding and businesses focusing on innovation, R&D and technology.
Highfield Group employs more than 230 staff across the group and turnover for this year is expected to exceed £15m.
Stephen Dale, Barclays’ relationship director, put together the funding package for the deal following an introduction from Mark Flanagan, Platinum Money Limited.
He added: “The team at Highfield Group really impressed me with their professionalism, vast background experience in the sector and most importantly, their modern approach in the industry.
“With Barclays backing the future looks bright for this well managed company.”
The UK is set to leave the EU on 31 October 2019. Are you preparing for Brexit? Complete the North East Growth Hub and Tees Valley Business Compass’ 3-minute survey →