The Challenge: KRL managing director George Baker aid: “In 2009 my two business partners wanted to sell up but I decided to go it alone. However the recession meant it was the worst time to try and do a MBO and we struggled to get the right finance.”By the company’s own admission, KRL was also previously more of a ‘lifestyle company’ and had to do a lot of developing to bring the business into the 21st century.
The Solution: Business loans totalling £130,000 from Finance Yorkshire, combined with an Invoice Finance facility from Lloyds TSB Commercial Finance, have helped KRL move on from the MBO by modernising the business while maintaining its regional roots.Said George: “We’ve updated our back-up and disaster recovery strategy, ensured we have the right servers in place to link in with customer networks and a new integrated software system will also improve efficiency of operations both in the office and engineers in the field…
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