Funding Solution for CHT

19th Jan 2006

A city centre based IT solutions company is expanding with £175,000 investment package including a £50,000 loan from Merseyside Special Investment Fund (MSIF).

CHT Solutions (UK) Limited delivers IT support and network installations to businesses all over Merseyside. The company also assists with PC troubleshooting and disaster recovery procedures.

CHT is an accredited consultant for the Department of Trade and Industry (DTI) and also a Microsoft Certified Partner.

Clients include Edmund Kirby, Langtons, Coulter Hurst and Hitchcock Wright.

In addition to the £50,000 loan from MSIF the investment package included support from HSBC and directors' own investment.

The company which employs 13 staff, was set up in 1999 and is run by directors Liam Walsh, Ian Denny and Stephen Carr.

Managing Director Liam Walsh said: "Over the last year the business has grown considerably and we needed working capital to expand the business. The money from MSIF was crucial, enabling us to invest in raising brand awareness and relocate to larger premises. We also want to strengthen our workforce and are hoping to take on around six new staff within the next two years."

Business Development Director Ian Denny added "The expansion will allow us to develop the business further and penetrate new markets whilst continuing to offer a quality service to our existing clients."

Alan Birkett, Investment Manager of MSIF's Small Firms Fund said: "CHT has a good reputation and a strong management team who are focused on driving the business forward. We are pleased to be backing this business which deserves to do well."

Turnover for 2006 is expected to reach £1.3m and is anticipated to top £1.8m within two years. CHT was named as one of the fastest growing IT companies in the North in Deloitte's "Fast 50" awards for 2004.

Ends

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Photo shows L-R - Liam Walsh (CHT) Alan Birkett (MSIF) Ian Denny (CHT)

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