Left to right: Central Business Finance director Alison Bradley, Channelglaze directors Matthew Pearson and David Pearson, and UKSE regional executive Mike Lowe

A family-owned manufacturer of canal boat windows has secured an £80,000 funding package to innovate and boost employment opportunities. Channelglaze Ltd, based in Tyseley, Birmingham, secured £60,000 in funding from business investment specialist UKSE and a further £20,000 grant via Central Business Finance to invest in a 3-D printer.

Established in 1979, Channelglaze Ltd are members of the Inland Waterways Association and design, manufacture and supply aluminium windows for narrowboats, canal boats and barges. The new 3-D printer will enable the business to print the tools needed to produce the aluminium porthole frame, streamlining the existing manufacturing process and reducing unnecessary waste. It is hoped that the investment in the new equipment will create two additional roles.

Providing strategic loan and equity packages of up to £1 million to generate growth, UKSE’s West Midlands team create local job opportunities and bolster the economy by supporting SMEs across Birmingham, the Black Country, Coventry, Staffordshire and Telford.

Central Business Finance are commercial finance brokers based in St Paul’s Square, Birmingham — helping SMEs of all sizes with a full range of commercial finance products and grant funding.

Extensive knowledge and expertise
Welcoming the investment, Channelglaze director David Pearson said: “At Channelglaze, we pride ourselves on the fact that we have been producing windows for the Inland Waterways for over 40 years. We have extensive knowledge and expertise within the team and the investment in a 3-D printer will allow us to continue to innovate and provide the unrivalled quality service we are known for. We will now be able to 3-D print our tools in-house, rather than use external manufacturers, which will reduce waste and speed up the manufacturing process. I would like to take this opportunity to thank UKSE and Central Business Finance for their support.”

UKSE regional executive Mike Lowe said: “We are pleased to have delivered the funding that Channelglaze need to innovate and grow the business. Channelglaze is a great example of a manufacturing business who are looking to grow, innovate and prosper to secure their future.”

Central Business Finance director Alison Bradley added: “I am particularly pleased that we have been able to help Channelglaze to innovate, through sourcing suitable finance. This is exactly where we can add value to a business that is seeking funding or finance and it has been a pleasure to work with Dave to secure both the loan and the grant.”

Established in 1975, UKSE is a wholly owned subsidiary of Tata Steel UK Ltd with a mission to enable and encourage businesses and the people behind them to create jobs, grow and prosper, within communities affected by current or historic changes in the steel industry and its jobs.

UKSE supports the local economy by making equity investments, ensuring management stays in control of the business and offers a flexible exit policy. Unsecured loans up to £200,000 are also available, often without the need for personal guarantees. To date, UKSE has invested over £115 million, supporting 8,000 businesses, stimulating the creation of an estimated 83,000 new jobs.