Finance Cornwall helps Cornish crash
repair company to strengthen business
A west Cornwall crash repair company is expanding its operations
with the help of investment from Objective One project Finance
Cornwall and HSBC bank.
Allen Auto-Bodies is based on the Rospeath Industrial Estate
at Crowlas near Penzance just off the main A30. The company
carry out vehicle crash repairs for both the insurance and
the private sector, and cover an area stretching from Newquay
to the far west of Cornwall. The company, which has been trading
since 1990, carry out repairs for all major automotive manufacturers
and employs 17 people.
Now, Allen Auto-Bodies have made a substantial investment
to help expand the work mix and strengthen the business with
the added purchasing power which will enable the company to
greatly increase its stock levels mainly in parts purchases.
The investment is being provided in partnership between Finance
Cornwall and HSBC Penzance.
Jonathan Allen said: "The investment came in order to
enable us to open our books more to the Insurance and retail
sector and increase parts turnover, which will increase the
income from parts sales cash flow basically."
He added: "It's all about looking after what we've got
at the moment and consolidating the business enabling us to
move forward into the future."
The new investment follows the commissioning and funding
by Jonathan of an in-depth business analysis study and a concluding
actions report, conducted by Mark Richards of 'Automotive
Management Solutions' - Consultants to the Automotive Industry.
Mark Richards said, "We were very pleased with the commissioning
of the study and also the results and conclusions of the analysis.
We are now looking forward to playing an instrumental role
in assisting 'Allen Auto-bodies' with the ongoing implementation
of the action plan, over the coming months."
Finance Cornwall's Business Loan Fund Manager, Jeff
Lenihan, said: "The study helped us to identify areas
of the business where things weren't operating so efficiently.
The investment is being used to address those weaknesses,
improve efficiency - and ultimately improve profitability
and the long-term future for this business. Finance Cornwall
and Automotive Management Solutions have also worked with
Jonathan and the team at Allen Auto-Bodies to upgrade the
firm's financial software, allowing them to more closely
monitor ongoing performance against projections."
Jim Hendry, Allen Autobodies' relationship manager from HSBC
in Penzance, said: "This investment plan will strengthen
the future viability of this local business and we are pleased
to provide our continued support to Jonathan Allen and his
Automotive Management Solutions
AMS is privately owned training and consultancy company,
which specialise in accident repair centre processes and production
analysis, with the overall aim "To deliver a 'Total Solution
Package' that facilitates in overall improvement and profitability
of the client operation."
Finance Cornwall background
Finance Cornwall is a £20 million investment fund backed
by £9 million from the Objective One European Regional
For more information contact:
Business Loan Fund Manager
Automotive Management Solutions (UK) Ltd
Objective One Partnership Office
Truro TR1 2UD
Tel: 01872 241379
Fax: 01872 241388
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