Rotherham-based Swallownest Engineering Ltd, a precision engineering services company, is growing its turnover and workforce after a six-figure investment from UK Steel Enterprise (UKSE).

The £100,000 boost will help the firm’s owners — Ian McCrossan, Steve Sample and Mike Smith — press ahead with plans to take its turnover past £2.2 million this year, which would amount to a £500,000 improvement over the last two years.

Mr Smith (www.swallownestgroup.com) said: “We are delighted to have received this investment from UKSE, which has immediately helped us to drive the business forward. By increasing our cash-flow, we have been able to appoint extra people, who have increased our efficiency and productivity.

"Our skill is in the ability to adapt and give engineers the replacement parts they want, when they want them.

"UK manufacturing output is at its highest for 10 years, which has helped us to maintain our recent progress. With the support of the UKSE funding, we are confident that we can continue on our upward trajectory.”

UKSE is a subsidiary of Tata Steel, set up to support growing businesses with equity and loan finance.

Allan Wood, investment manager at UKSE, said: “The management team have worked hard to rebuild Swallownest Engineering since 2006, when a major customer closed its Sheffield production facilities and moved the order book to Finland — resulting in a loss in turnover of over £1.5 million.”