Glasgow-based Walker Precision Engineering (www.walkerprecision.com), which makes components for the aerospace, defence and industrial sectors, has secured a £4 million investment from the Business Growth Fund (BGF) to expand its operations in the UK and mainland Europe.

Operating from sites in Glasgow, Basildon and Poland, the company has experienced an increase in demand from existing and new customers, particularly in the fast-growing space sector; the BGF funding will allow it to invest in specialist machinery, further increasing its high-accuracy machining capacity.

Walker has been forging closer links with the International Space Agency and academic institutions, and it has been involved in the Galileo global navigation satellite system.

In addition to further investment at its Glasgow headquarters, the company will move its Basildon operations to
a new purpose-built facility and will double the capacity of its manufacturing facility in Poland.

Managing director Mark Walker said: “Walker has grown steadily over the years through our deep commitment to investing in technical expertise and innovation.

“Now is the right time to bring a minority investor on board. The BGF’s funding will help us to pursue new opportunities faster than we would otherwise have been able to do, without losing control of the business.”

This investment in Walker brings the BGF’s total funding in Scottish businesses to more than £200 million.

It invests exclusively in small and medium-size firms with headquarters in the UK and Ireland, and is in the top 10 of the world’s ‘most active’ investors.