Secure Trust Bank Commercial Finance has provided more than £4m in support of Silcoms as the aerospace supplier targets further growth.
Secure Trust Bank Commercial Finance has arranged a £4.2m asset-based lending facility for BREAL Group and its portfolio company Silcoms, strengthening the Bolton engineering firm’s position in the UK aerospace supply chain.
The package comprises receivables finance, plant and machinery investment, property finance and an overpayment facility. It reflects Secure Trust Bank’s focus on supporting private equity investors involved in complex growth and turnaround strategies.
Silcoms, founded in 1939 as Bolton Engineering Company, has long specialised in high-precision components for the aeronautics industry. The business also manufactures conveyor chain solutions for sectors including quarrying, food production and textiles.
The new funding is intended to support Silcoms’ expansion in the commercial aerospace market, allow upgrades to its facilities and equipment, and provide additional resources as the firm seeks to strengthen its management team and move into new aerospace segments.
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, added: “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.”
