Doncaster-based Senior Aluminium Systems - one of the fastest growing aluminium system suppliers in the UK - has secured the next stage of its success with a board restructure and new finance partners.
Control of the company is now in the hands of MD Lennart Jonsson and co-founder David Senior who have bought out majority shareholders and non-executive directors George Hall and John Hannam.
“George and John have both been extremely helpful to the company’s growth and development but are now at a stage where they are moving on,” said Lennart Jonsson. “As part of this consolidation process we have also secured financial backing from South Yorkshire Investment Fund* and more advantageous banking arrangements.
He continued: “We are at an exciting stage in the company’s development. Orders continue to grow, a third factory shift is being introduced, creating five new jobs and with the new
Only last year, SAS was described as a company “with a solid foundation and tremendous potential for a lot more growth” by David Fletcher, former chairman and chief executive of Sheffield Forgemasters and current non-executive chairman of SAS.
SAS moved to brand new, purpose-built premises on Eland Road, Denaby Main in 2002. The company was established in 1991 with just two employees and today has a turnover of around £15 million a year and more than 100 employees.
David Best, Investment Director of South Yorkshire Investment Fund (SYIF) said: “When Senior Aluminium Systems came to us seeking financial support, we were immediately impressed both by the ability of the management team and the quality of the company’s facilities. Since arriving in Denaby, Doncaster, they have gone from strength to strength. SYIF,
“SYIF provide loans and equity linked investments ranging from £15k to £2.5m to businesses already in, or prepared to relocate to, South Yorkshire,” added David. “ The Fund has already invested £16.3 million in 140 businesses and we want to help many more like Senior Aluminium Systems.”