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Enterprise

Sheffield scaffolding firm Hi-Point Access secures 拢250k investment following acquisition

The 33 year-old firm has expanded its footprint in Yorkshire having bought Gap Scaffolding Services

From left: Connor Murphy, Harry Bushell, Andy Tyas, Kate Darbyshire, Carly Turley, Garry Turley, Matthew Blantern and Simon Blantern.(Image: Shaun Flannery Photography Ltd)

Scaffolding provider Hi-Point Access has secured £250,000 investment to fuel growth having acquired Barnsley's Gap Scaffolding Services.

The funding from NPIF II - Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II, will be used for working capital and to give the firm new equipment in the follow-up to its latest deal.

Hi-Point was founded in 1992 by brothers Steve and Chris Blantern and is now run by Steve's sons, Simon and Matthew, and his daughter Carly Turley and her husband Garry. The firm is said to have doubled turnover since 2021 and now employs more than 50 staff in the city, with clients including Sheffield City Council, Sheffield United, the Utilita Arena, the city's two universities and Wakefield Council's partner Robertsons Facilities.

The acquisition of Gap represents an exit for its founder Steve Griffiths. Hi-Point, which specialises in scaffording hire and mobile elevating platforms as well as maintenance and roofing services, has taken on seven staff who will continue to operate from Gap's Barnsley base.

Carly Turley, finance director at 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 of 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."

Lizzy Upton, senior investment manager at British Business Bank, said: "It’s good to see NPIF II backing a thriving, family-run business, that’s expanding across Yorkshire. Hi-Points 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. Kate Darbyshire of Lloyds Bank introduced Mercia to Hi-Point.