£660k investment to create jobs for Yorkshire office supplies specialist

A Yorkshire supplier of office equipment and services has secured a six-figure investment to expand operations and create new jobs.

KRL Group has secured £660k funding from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).

Founded in 1984, KRL Group specialises in office printing, copying and scanning solutions, employing 25 staff and servicing 3,000 machines across the country.

The Hull-based firm plans to use the investment to purchase its 9,600 sq ft premises, which are currently leased.

In addition, the company plans to develop its demonstration suite and showroom facilities and drive marketing activity, as well as create new jobs.

George Baker, KRL Group’s managing director, explained: “We are delighted with the backing from FW Capital to help us buy our premises and expand our operations.

“We are grateful to FW Capital team for their supportive approach which will allow us to fulfil our ambitions at this exciting time.”

FW Capital senior investment executive Keith Charlton and investment executive Anne Blanden completed the deal. Keith commented: “KRL’s office is modern and provides good space for future growth so we were happy to support them when the opportunity came up to purchase it.

“The company’s plans to further develop its demonstration suite and showroom facilities will help maintain sales growth.”

Phil Glover, business development manager at The Humber LEP, added: “We are delighted to see yet another company in the Humber benefit from the Northern Powerhouse Investment Fund.

“The purchase of their facility has enabled them to also invest in new showroom and demonstration facilities to support the company’s future growth.”

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