VS Group Holdings (VSG), a telecommunications firm specialising in providing for the not-for-profit sector, has secured a £100k investment for its expansion, through Lancashire County Developments Ltd’s Rosebud Fund, managed by GC Business Finance.
With this investment, the company will be working towards a long-term objective to double in size and to hit 1000 charity clients within the next five years. Established in 2012, VSG provides broadband, internet, cloud hosted and PBX systems and photocopiers for the sector. The firm works with major charities including Citizen’s Advice Bureau, MIND and MenCap. VSG currently looks after 300 clients, with 13 staff operating across the Lancashire-based head office in Barrowford and an office in Manchester.
Helping charities to save money is the foundation of the business, with the firm also providing funding and donation schemes for their clients, helping them to reinvest for the future. The £100k investment, provided by the Rosebud Fund and managed by GC Business Finance will take place over a five-year period. This will allow VSG to increase its team to between 15 and 16 people, enabling the business to better service existing customers and to develop its sales strategy to the wider market. This will also assist the firm in expanding its presence across the North West and Yorkshire.
This is the first investment made by the Rosebud Fund under the management of GC Business Finance, which has been designed to create around 150 jobs per year. It will focus on a number of high-growth sectors including energy and environment, health, manufacturing and professional services. Kevin Penman, managing director of VSG, said: “Since establishing seven years ago, our aim has always been to assist voluntary and charitable bodies to gain access to leading-edge technology at reasonable rates. These charities do incredible work and this investment from the Rosebud Fund will enable VSG to grow rapidly as we look to expand our client base across the regions and help more not-for-profit organisations help more people throughout the UK.”
Mark Gibbons, senior business loan manager at GC Business Finance, said: “We are excited to have completed the first transaction from the Rosebud Fund and are looking forward to working with Lancashire’s SME community to drive growth across the region. "VSG is centred around helping people directly through its work with charities or indirectly with the people that benefit from its support, and its expansion across the North and Yorkshire will enable it to provide the highest quality advice and have a direct impact on local areas and the charities that work within them.”
Amin Vepari at Lancashire County Council, said: "Supporting and investing in businesses like VSG fits with our ethos and purpose for Rosebud ensuring we provide an accessible platform for growth to the County's ambitious businesses."