Midlands-based Sertec Group
, an automotive components manufacturer, has announced a further £4 million investment from independent investment companyBGF
, as the business sets its sights on further growth in European markets.
Since BGF’s initial investment in 2016, the business has expanded its customer base, invested in new technologies and established a strong European footprint through acquisitions and the recruitment of new people.
This year, Sertec has secured significant new contract wins in the electric vehicle (EV) and lightweight technology markets using its engineering expertise and innovative technology expertise.
Sertec CEO Grant Adams said: “We are ambitious about continuing to grow the company and BGF’s additional investment allows us to build on the strong foundations we have put in place.
“We start 2021 with a strong balance sheet and exciting growth prospects in Europe underpinned by our recent hires. Juergen Schreiner joins as European sales director and Antal Mihalicz has been appointed managing director in Sertec’s Hungarian operation.
“Our technology positions us at the forefront of the sector to take advantage of the huge potential presented by the growing EV market in the UK and Europe.”
This investment news follows the appointment of Nick Sanders as non-executive chair in May 2020.
BGF investor Tom Horton said: “BGF’s renewed commitment to Sertec is testament to the strength of the business’ leadership and ongoing investment in new technologies.
“In a very challenging year, the company has continued to secure significant, long-term contracts as it expands its customer base. We look forward to working with the team in its next chapter of growth.”
Sertec Group Ltd operates across eight sites, with six manufacturing sites in the Midlands in the UK, one manufacturing site in Aszar, Hungary and one in Hückeswagen, Germany, plus a tooling technical centre based in Dongguan, China.