Bulletin

Furnace specialist turns up the heat on growth after funding deal

A Black Country engineering firm is set for growth after completing a major funding deal. Halesowen-based Vacuum Furnace Engineering has our backing and that of private investment firm SEA Equity. The deal sees prominent West Midlands businessman Roy Kishor take over as chairman of the company. He plans to lead the £10m turnover business on a new growth programme, exploiting opportunities in its contract servicing and repair business, while also developing the next generation of vacuum furnaces and a new apprenticeship scheme. Our Corporate & Commercial office in Birmingham worked with Vacuum Furnace Engineering and provided a growth capital loan, senior debt and a revolving credit facility. The growth capital facility is part of our Breakthrough programme, which aims to support fast growth businesses. Darren Hart, Head of Growth Capital at Santander UK, said: 'Vacuum Furnace Engineering is a market leader in its field and a perfect example of the best of British engineering and what entrepreneurial vision, technical expertise and business acumen can achieve. We're proud to able to support this established and successful business and the industrial tradition of Black Country industry.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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