North West precision tooling specialist AETD accelerates growth following NPIF II & SUL investment
North West-based Aerospace Engineering Tooling & Defence (AETD) is set to accelerate its growth plans after securing two five-figure loans from the British Business Bank, delivered by GC Business Finance (GCBF).
These include a loan from NPIF II – GC Business Finance & River Capital Smaller Loans, which is managed by the consortium as part of the Northern Powerhouse Investment Fund II, alongside funding through the Start Up Loans (SUL) programme.
Founded by engineer Thomas Durkin and incorporated in September 2025, AETD supplies precision tooling to the aerospace and defence sector, key areas within the Government’s Industrial Strategy, while also supporting customers in the food and medical industries. Importing specialist tooling from Germany and the United States, the business is building a reputation as a trusted distributor to manufacturers across the UK.
Having experienced rapid early growth, AETD identified the need for additional finance to support working capital and invest in its long-term development. To prepare, the team first worked with Access to Finance (A2F) to become funding ready. The A2F team helped AETD develop a business plan and robust financial forecast.
Now, having secured Start Up Loan and NPIF II funding, this will enable the business to strengthen its online presence, recruit new members of staff and enhance its operational capabilities.
Investment is already underway to refurbish the company’s new premises in Rossendale, creating an improved warehouse and office space to support future expansion. AETD is also developing a new customer portal, providing online ordering and greater visibility for customers, alongside an in-house system designed to streamline internal processes and improve day-to-day operations.
Looking ahead, the business plans to continue growing its presence across the aerospace and defence sector, with ambitions to establish a manufacturing facility in Greater Manchester and develop innovative tooling management solutions, including tool kits with enhanced tracking and usage monitoring.
Thomas Durkin, founder of AETD, said: “Despite setting up less than a year ago, we’ve already achieved incredible demand, meaning the business has grown much faster than we expected. Securing the right funding was essential to help us build on this momentum and set strong foundations for the future.
“The support from Alison and the GCBF team has allowed us to invest in the areas that will make the biggest difference to our growth, from improving our premises and strengthening our online offering to bringing in new talent and developing better systems for our customers and our team.”
Alison Darkes, investment manager at GC Business Finance, said: “Thomas has built an ambitious business serving highly specialised industries with significant growth potential. Despite being established less than a year ago, AETD has already demonstrated strong demand for its products and a clear vision for the future.
“The NPIF II funding product will enable the business to invest in its infrastructure, create new employment opportunities and build the systems needed to support sustainable long-term growth. We’re looking forward to seeing AETD continue to expand.”
Sue Barnard, senior investment manager at the British Business Bank, added: “AETD is an ambitious Northern business, firmly aligned with the government’s Industrial Strategy and building strong foundations for future growth. Through NPIF II and the Start Up Loans programme, the British Business Bank is supporting businesses to invest in innovation, strengthen their operations and unlock new opportunities as they scale, contributing to economic growth across the UK.”
Ian Dixon, head of Access to Finance (A2F), said: “AETD has built a really strong proposition that is supporting a key sector for the UK economy. Having worked with Thomas and the team to get the business investor ready, we’re thrilled to see them secure this next stage of investment to allow them to continue growing. This shows how, through the Growth Company, we’re able to prepare businesses and invest in them, making the whole process more simple.”
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.