Precision engineering company secures £100k investment

Dorset-based engineering company, Finetec Precision Engineering, has secured a £100,000 funding boost from invoice finance specialist, Gener8 Finance.

Finetec Precision Engineering, which was established in 1992, provides high quality precision components at competitive rates. It specialises in CNC Sliding Head Turning using Citizen machines, machining small turned and milled parts, with bar capacity up to 32mm diameter.

Becky and Justin Jennings, who purchased the company in 2010, turned to invoice finance as a solution to free up cashflow, allowing them to accept growing orders with confidence, as well as invest in new materials and machinery.

Becky Jennings, operations manager at Finetec Precision Engineering, said: “We’re thrilled to have secured funding from Gener8 Finance, at a key time for the business.

“We required a funding partner who understood the nature of our business and industry, and could react quickly to our needs – and Gener8 did just that.

“We are so happy to have built such a strong relationship with Melissa – from coming to meet us on the same day of first contact, to tailoring a funding package to meet our exact requirements, she’s made the whole process an enjoyable one.

“We look forward to working with the whole team to help achieve our future business goals.”

Melissa Boston, business development manager at Gener8 Finance, said: “We are thrilled to have secured a funding package for Becky and Justin, that’s offers the best financial solution for their particular needs.

“As a growing business, it can often be difficult to make key investments when orders are piling up and larger listings are being secured.

“Our partnership will allow the business to unlock new opportunities, helping them move in the right direction, and ultimately allowing us to grow together”.