“The investment will underpin the company’s turnaround and enable Davy Markham to re-establish itself as a world-leading brand in the heavy engineering market,” Hoist was told.
Endless has supported Kevin Parkin and Duncan Hay, who have been acting as interim managing director and interim financial director respectively and who now take permanent positions on the board.
Parkin said: “Davy Markham has been through a significant turnaround over the last 18 months and have been supported all the way by our skilled and dedicated workforce. The investment and strategic support from Endless will allow the business to grow from strength to strength.”
Davy and Markham have a strong history in the south Yorkshire area, with both companies originating in the 1830s. They came together in a merger in 1997.
The £14 million-turnover company employs 170 people in Sheffield and there are plans both to recruit more employees and launch an apprenticeship scheme “to protect and develop skill levels for the future of the business and the region,” it said.
Endless is in the early stages of plans to complement its investment, injecting additional funding into the Davy Markham site by developing a new industrial park.
Kevin Parkin, managing director, Davy Markham; Chris Clegg, investment director, Endless LLP; Don Gray, director, Ingram Forrest Corporate Finance; Duncan Hay, finance director, Davy Markham davy markham
