Key contracts to support major international sporting events have been won by a Yorkshire global events scaffolding business which is also expanding in China.
A contract to provide specialist scaffolding for test events for the London Olympics, which are currently underway, and for the Omega World Cup, Mission Hills, Hainan Island, China, has been won by Leeds-based RIM Scaffolding Events Services Ltd after winning backing from Yorkshire Bank Leeds Financial Solutions Centre (FSC) through its Investing for Growth initiative.
The specialist scaffolding business, led by joint managing directors, William Irish and Peter Madden, has also created 18 new jobs this year and is launching a new office in Guangzhou, China. The business, which has a warehouse facility in Abu Dhabi, is also planning to open an office in the United Arab Emirates early next year (2012) to expand its services in the Middle East.
As well as supporting the overall growth of the company as it expands in the Far East and UK, the Yorkshire Bank Leeds FSC funding includes asset finance to enable it to buy the extra scaffolding stock required to support the 2012 Olympic test events and the Omega World Cup.
The Garforth-based business was founded as a partnership in 1991 and three years later became a limited company, RIM Scaffolding (Leeds) Ltd, which is still operating with many long-term contracts with local authorities throughout the UK.
In 1997 the business diversified into the specialised events sector which requires a different approach and ten years later launched RIM Scaffolding Events Services Ltd. RIM now has 65 staff and a £3.5m turnover.
The business provides scaffolding structures including TV camera towers, seating grandstands, marquee sub structures, commentary boxes, bridges, scoreboards and LED screen supports for customers including the BBC, Sky, European Tour, IMG Event Management, GL Events, Arena Structures and temporary structure supplier, De Boer, Northants.
Joint managing director, William Irish, says: “We achieve 85 per cent repeat business on annual events and are currently heavily involved with the Olympic test events which is a good indication of our involvement with the London 2012 Olympic Games.
“We have had to fund expansion out of cash flow for the last two years during the credit crunch which has constrained our growth ambitions. We spoke to several banks but found Yorkshire Bank to be ideal. Its Leeds FSC is providing initial funding with an overdraft, asset finance facility and company bank cards.
“As well as funding our expansion in China and the UK, the funding will help us reach the next stage of our growth with a sound financial footing. We will need to recruit 20 more staff, including four apprentices, in 2012 to carry on our tradition of training young people with the correct skills for the events industry.”
RIM’s expertise and technology is used for major international high-profile sporting events including the Commonwealth Games, Delhi, India; the Ryder Cup, Wimbledon, Cheltenham Gold Cup, PGA European Tour, Dubai World Championships, Aintree Grand National, British Open, Abu Dhabi Golf Championship, HSBC Women’s Golf Championship Singapore; Vivendi Trophy, Saint Nom La Breteche Golf Club France and the HSBC Men’s Championship, Shanghai.
Yorkshire Bank Leeds FSC business banking partner, Lynsey Smith, says: “RIM Scaffolding Events Services is becoming well established in the global sporting events calendar. We’re pleased to be supporting the business through our Investing for Growth initiative and helping to create jobs in Yorkshire.”
Yorkshire Bank’s Investing for Growth initiative enables businesses to take advantage of loan repayment holidays, interest-only repayments and extended loan and credit terms designed to take advantage of quality growth opportunities. Businesses signing up to the package can re-invest the cash into their operation for expansion, new staff, equipment, machinery and commercial development.
Yorkshire Bank’s Leeds FSC, Manor Road, includes more than 80 corporate, commercial and private banking specialists operating in multi-discipline teams encompassing corporate banking, private wealth management, treasury services and credit and operates a traditional method of banking with funding from deposits used to support investments in the local community.