£660k Investment Brings Staff, Tech and Equipment Expansion For Hull’s KRL
Posted on 6th April 2022 at 12:42
At a time when there’s not much positive business news to be found, KRL Group is bucking the trend. Having secured a £660k investment from FW Capital, a subsidiary of the Northern Powerhouse Investment Fund (NPIF), Yorkshire and Lincolnshire’s leading print, scan and copier provider is powering into the future.
KRL Group employs 25 staff selling office printing, copying and scanning solutions and providing service, support and maintenance to a fleet of some 3,000 customer machines across the UK. Thanks to the funding injection, the company has already taken on two new staff members, which has allowed for a further broadening of its customer base. While an expansion of the company’s tech services sees the delivery of new archival and retrieval software solutions for SME customers.
In addition to new staff and services, the investment also provided KRL with more security for the future. The brand is now able to purchase its 9,600 sq. ft. premises, which are currently leased, and develop its demonstration suite and showroom facilities. It’s these plans which ultimately impressed FW Capital Senior Investment Executive, Keith Charlton.
‘KRL has some extremely strong growth opportunities,’ Keith explains. ‘The company’s plans to further develop its demonstration suite and showroom facilities will help maintain sales. And KRL’s office is modern and provides good space for future growth so we were happy to support them when the opportunity came up to purchase it.’
George Baker, KRL Group Managing Director, said: ‘KRL Group is one of the longest-established suppliers of office equipment and services in Yorkshire and Lincolnshire. Our customer base is spread throughout the UK, and we pride ourselves on providing exceptional service. For us, it’s never been about securing a quick sale, but rather building lifelong relationships.
‘We are absolutely delighted to have received this investment from FW Capital and the Northern Powerhouse Investment Fund. Not only because it allows us to grow KRL to its full potential, but because it shows enormous confidence in the business at a time when funding is often hard to find. It’s a really exciting time for KRL and the fruits of the investment are already being seen.’
KRL works with some of the world’s leading manufacturers in the office peripherals field. By building strong relationships with both customers and suppliers, the company has been able to carve a niche for itself in a very competitive market. This latest investment should help KRL further secure that niche for the future.
Tagged as: KRL News
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