Investment to Create Jobs

Intrasource is an East Yorkshire based IT business providing tailored and reliable managed IT support twenty-four hours a day, seven days a week. They offer not just IT support but also IT consultancy, cloud services, IT security and business phone systems. They offer support to companies ranging in size from small local shops to national corporations and operate across Yorkshire and the UK. In 2016, the owner was looking to retire and allow his management team to acquire the business. Frazer Hall approached UK Steel Enterprise on their behalf. The remit of UK Steel Enterprise is to focus on areas of the UK that have been most affected by changes in the steel industry and Intrasource are headquartered in the middle of one such area. UK Steel Enterprise invest directly into growing businesses, providing among other things, equity investment and loan finance and have supported thousands of businesses since 1975. They will offer investment funding up to £1 million and small loans from £25,000 – often unsecured and with fixed interest rates. They are an approved lender under the Government’s Enterprise Finance Guarantee (EFG) scheme. As a result of securing the investment from UK Steel Enterprise, Intrasource is on track for rapid growth and now plans to expand its workforce by 50% this year.