NEW YEAR, NEW BANK, NEW SHAREHOLDERS…
2013 is only week’s old and business development is already moving ahead. Edward Naylor commented: ”As you may have read in the press, we have not only changed banks (from Lloyds to HSBC) but my colleagues David Fletcher, Bridie Warner-Adsetts and I have bought back the stake which Venture Capitalist, SYIF, acquired 4 years ago.”
Ownership and control of the business is now in the hands of a management team who are committed to the long term growth and security of the company.
Also last week, as a result of re-banking the business, we have paid down all of the debt owing to SYIF which was attracting high interest rates. SYIF regard their involvement in Naylor as having been successful, with their investment having doubled in value.
Over the 4 years of their involvement we have grown by 30% and continued to invest in our operations despite the difficult economic backdrop. We would like to thank SYIF for their support.