Coventry-based Expert Tooling and Automation Ltd, which recently moved into a new ‘state of the art’ facility in Coventry and employs over 200 people, has secured a £12 million structured cash-flow facility from Secure Trust Bank Commercial Finance.
Established in 1972, Expert Tooling (www.expert-amt.com
) provides assembly tooling, special-purpose machinery and robotic automation products to the automotive, aerospace, machine tool and transport industries.
It is the UK’s largest robotics system integrator and automation system builder, and it has focused in recent years on emerging technologies, including light-weight composite body structures and battery assembly (for electric and plug-in hybrid vehicles).
The company counts Jaguar Land Rover, Aston Martin and Bentley among its customers.
CEO Angelo Luciano said: “Automation is becoming a focal point in the manufacturing industry, and as one the UK’s most prominent suppliers of automotive technology, we are set to benefit from this growth within the sector.
“We required a facility that would allow us to grow without the burden of insufficient working capital, and Secure Trust Bank was able to provide an imaginative structure that met our needs.”
David Parsons, regional managing director of Secure Trust Bank Commercial Finance, said: “Expert Tooling is an established business that prides itself on its long-standing history and expertise in the automation industry.
"This facility will not only help the company fund its current workload but also grow in line with the business, ensuring that it continues to be prosperous in the future.
“We look forward to working with Expert going forward.”