Cumbrian expedition company Sam Sykes has received support from the Barclays Northern Powerhouse Fund to help grow the business.
Sam Sykes Ltd was set up in 2009 with the aim of creating the world’s best Duke of Edinburgh Award expedition company and now work with schools and organisations across the globe to provide unforgettable experiences for thousands of young people. The funds will enable a shareholder buyout and provide working capital to continue to grow the business.
Sam Sykes, the founder, has been involved in the Duke of Edinburgh award scheme from the moment he was born. His father Stuart Sykes has dedicated 40 years of his life delivering the Duke of Edinburgh award as a volunteer and he was awarded an MBE in 2002 for his services to young people.
The £500m Northern Powerhouse Growth Fund was established to inject investment into businesses across the north of England and is intended for SMEs across the Northern Powerhouse region, including established businesses with ambitious growth plans, start-ups with high growth potential, companies with early-stage equity funding and businesses focusing on innovation, R&D and technology.
Sam Sykes, founder of Sam Sykes Ltd said: “We’re delighted to benefit from the Barclays Northern Powerhouse fund which has allowed the business to unlock more working capital and take the business in the direction I want to.
“The support from Barclays now means we are able to have a significant presence at this month’s Kendal Mountain Festival in conjunction with our close partner Mammut.”
Lisa Culling, Barclays relationship director put together the funding package for the deal and said: “At Barclays we’re delighted to be able to help businesses grow and expand and the Northern Powerhouse fund is the perfect vehicle for businesses that are looking for new opportunities and require flexible funding options.
“I have worked closely with Sam and he continues to really impress me with his professionalism, vast background experience in the sector and most importantly, his burning desire to succeed.”
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