Scaffolding firm reaches new heights

A Sheffield-based scaffolding company is set for further expansion following a funding boost and a recent acquisition in Barnsley.

Hi-Point Access has raised £250,000 from the Northern Powerhouse Investment Fund II (NPIF II), managed by Mercia Debt Finance. 

Bosses say the funding will support continued growth by providing additional working capital and enabling investment in new equipment following the purchase of Gap Scaffolding Services, which secured the jobs of seven staff at the Barnsley site.

Carly Turley, finance director of Hi-Point Access, said: “It’s great to welcome aboard the experienced team at Gap and to expand our footprint with a base in Barnsley. 

“The funding from Mercia and NPIF II will enable us to make the most of it by providing additional capital to take on new projects and buy new equipment. 

“We look forward to continuing our expansion throughout Yorkshire and beyond.” 

Andy Tyas, investment manager at Mercia Debt, added: “Hi-Point is an established business that has had a new lease of life under the second generation of family members. 

“Over the past few years, they have expanded the range of services and increased turnover, and the acquisition of Gap is another milestone. 

“We are pleased to provide the funding they need to continue their growth journey.”

Established in 1992, family-run Hi-Point, which offers scaffolding hire and mobile elevating platforms, building maintenance and roofing services across Yorkshire, has doubled its turnover since 2021 and employs over 50 staff. 

The firm serves a variety of clients, including Sheffield City Council, Sheffield United, the city’s two universities, the Utilita Arena and Wakefield Council’s partner Robertsons Facilities Management. 

The £660 million NPIF II fund, which is administered by the British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses, driving innovation and creating opportunities for businesses to grow, scale and thrive.

Lizzy Upton, senior investment manager at British Business Bank, added: “It’s good to see NPIF II backing a thriving, family-run business, that’s expanding across Yorkshire. 

“Hi-Point’s extensive reach across a number of key venues and institutions makes it integral to our region’s vibrant cultural economy, and its why supporting businesses like this is so important to us.”

Harry Bushell, of Hentons Corporate Finance, in Sheffield, advised Hi-Point on the acquisition of Gap Scaffolding Services.

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