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21/11/2014

Yolk Recruitment receives £100,000 boost to aid development

Cardiff-based Yolk Recruitment, a specialist recruitment consultancy operating in the commercial sector, has secured £100,000 funding from Finance Wales to support the expansion of its Cardiff and Bristol offices.

The funding, which was accessed with support from Newport-based accountants, UHY Hacker Young, will be used to develop the firm’s base in Cardiff and to support its expansion into Bristol. As a result of the investment, Yolk hopes to boost its workforce by creating 38 new jobs in the next two and a half years.

Speaking about the deal, Cennydd Thomas, corporate finance manager at UHY Hacker Young said: “Yolk is a shining example of a successful, ambitious Welsh company that is not content with simply standing still and is constantly seeking to increase its market presence. Their growth plan is ambitious and we’re excited to be a part of it.

“The company has gone from strength to strength and this has been recognised by Finance Wales’ backing of the company in its continuing expansion both in Wales and across the Severn Bridge.”
 
Cenydd Rowlands, senior investment executive at Finance Wales said: “Yolk Recruitment is an excellent example of how strong leadership, clear focus and hard work can lead to significant success.

“It is extremely encouraging to see the company taking further office space and creating more jobs in South Wales, in addition to expanding its operations in England. Finance Wales is pleased to support this management team and their ambitious plans for on-going growth.”

Yolk Recruitment has grown rapidly since its inception in 2009, and it now helps businesses recruit staff in sales, marketing, business support, law, IT, human resources, finance and engineering. Having secured funding, the firm now targets exponential growth and the creation of new jobs in south Wales and Bristol.

Dale Williams, co-director of Yolk Recruitment said: “This is an exciting new chapter in the history of Yolk Recruitment and we’re very excited to move forward with the backing of Finance Wales. The funding we’ve received will help us expand our Cardiff and Bristol offices, which will help us achieve our target of creating 38 new jobs over the next two and a half years.

“We’re grateful to UHY Hacker Young for providing the corporate finance advice we needed for this investment to go through. Now we feel we’re in a good financial position to target even more impressive growth than we’ve achieved already.”

Newport based firm UHY Hacker Young provided corporate finance advice on the deal. UHY Hacker Young have supported applications for investments to a number of small businesses in Wales.

Finance Wales was set up in 2001, to make commercial investments in small and medium-sized businesses (SMEs) and is one of the UK’s largest regional organisations specialising in SME investment. To date Finance Wales has made over 3,380 investments, providing over £340m of funding to businesses in Wales.