Finance Yorkshire makes £250,000 investment in RGS

WHEN floods destroyed bridges in Cumbria during the winter of 2009, many remote communities wondered if their lives would ever be the same again.

A small business from Yorkshire helped to ensure that the replacement bridges were built to last.

Rogers Geotechnical Services – known as RGS – specialises in carrying out investigations into soil quality. In the aftermath of the Cumbrian floods, RGS checked the soil around the proposed sites of the new bridges. Finance Yorkshire has now made a £250,000 investment in the Huddersfield-based company to help it grow. The equity linked investment from Finance Yorkshire will enable the company to update its fleet of vehicles, and invest in a new drilling rig, It also plans to refurbish its soils laboratory at the Barncliffe Business Park.

RGS, which was founded in 2004, is a family-run firm with 16 employees and an estimated turnover of £850,000.

Managing director Emma Rogers runs the business with her husband, and operations director, Chay and his father Steve, who is the technical director.

Ms Rogers said: “Despite difficult times through the recession, we have grown the business, largely by seeking new markets and we have got to the point where we needed to invest in new equipment, including a drilling rig. Finance Yorkshire’s investment provides capital to the business and enables us to maintain our position in what is a competitive sector.”

RGS operates nationwide and handles all aspects of ground investigation including laboratory testing. It also carries out tests for signs of subsidence.

RGS was advised in the deal with Finance Yorkshire by Cathy Cook from Jordans Solicitors in Wakefield and by Martin Bown of My Management Accountant.

To date, Finance Yorkshire has made 617 investments totalling more than £77m.

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m, to help a range of small and medium sized businesses to meet their funding requirements for growth and development. The project is supported by the European Union.