Secure Trust Bank fuels Silcoms growth with over £4m funding support
Secure Trust Bank Commercial Finance (STB CF), the asset-based lending arm of Secure Trust Bank, has supported BREAL Group and its portfolio company, Silcoms, a key supplier to the UK aerospace sector.
The £4.2m facility includes receivable finance, plant and machinery investment, property finance, and an overpayment facility. It highlights STB CF’s ongoing commitment to partnering with growth and turnaround-focused private equity firms to enable complex transactions.
Silcoms, a historic precision engineering business based in Bolton, was originally founded in 1939. Previously operating as Bolton Engineering Company, Silcoms has evolved over the decades to become a specialist manufacturer of high-precision components for the aeronautics industry. It also manufactures conveyor chain solutions across a range of sectors from quarrying to food manufacturing and textiles.
The funding will solidify Silcoms’ position in the commercial aerospace market, along with supporting it in upgrading its facilities and plant and machinery. It will also provide financial firepower as Silcoms looks to add experienced professionals to its already strong platform of management, and subsequently expand into other areas of the aerospace sector.
Daniel Holmes, managing director at Silcoms, said: “We’re really excited about this next chapter for Silcoms. With STB’s support, this enables us to invest in our operations and people and grow into new areas of our sector. With the continued support of our key partners, we’re confident in the strength of our business and its long-term future.”
Mick Welden, chief financial officer of BREAL Group, said: “The funding from STB CF has been instrumental in setting the business on a strong footing for the future.
“This support will allow Silcoms to consolidate its position in the market, upgrade its manufacturing capabilities, and begin exploring opportunities across other aerospace sectors. We’re confident in the existing team and are continuing to invest in new leadership and engineering talent to drive the next phase of growth.”
Paul Goodchild, regional sales director at Secure Trust Bank, said:“We’re proud to have supported BREAL Group and its portfolio company Silcoms, a business with a strong engineering heritage and strategic importance to the UK’s aerospace sector. This transaction is a great example of how we partner with private equity to deliver bespoke funding solutions that provide the working capital and investment headroom needed for sustainable growth. We look forward to seeing Silcoms build on its legacy and continue expanding under BREAL Group’s ownership.”