JR Gilbert Engineering secures £650,000 additional finance
JR Gilbert Engineering, the precision engineering company based in South Wales, has secured a £650,000 invoice finance facility from Santander UK to support its next phase of growth.
The additional support will ensure that the business, established in 1983 and specialising in cutting, surface grinding and precision machining, has the working capital available to continue its growth trajectory, improve its operational resilience and has already facilitated a shareholder buyout.
JR Gilbert Engineering Ltd supports a wide range of sectors including rail, energy, steel, print and food and drink, and has achieved strong growth over the last three years, more than doubling its sales in that time. With the facility in place, the company can improve its operational resilience, confidently pitch for larger projects and grow its workforce as the business continues to expand.
Colin Beavis, managing director, J R Gilbert Engineering said: “This facility will allow JR Gilbert Engineering to continue to grow and take advantage of the many opportunities in the engineering sector.”
Paul Williams, relationship director, Santander UK, added: “The team at JR Gilbert Engineering has performed incredibly well and achieved significant organic growth, doubling its revenues over the last three years despite challenging economic conditions. Following their move to Santander earlier in the year, we are delighted to provide this facility as the business enters its next growth phase and we will work closely with them as they continue their journey.”