Wolverhampton-based
3D Tooling Technologies (3DT) is set to expand its range of services following the acquisition of new machines supplied by Chester Machine Tools, with the support of funding from
Paragon SME Lending.
The five-figure package will see the specialist in product and component prototype development, design and manufacturing expand the range of services now available to clients, including steel cutting, from the automotive, engineering, transport and medical sectors.
Based in Staffordshire and a leading global supplier of manufacturing equipment,
Chester Machine Tools supplied 3DT with a Chester VF1100 high-speed ultra-high-performance CNC machining centre.
Wayne Hall, Paragon SME Lending’s business development manager for manufacturing, said: “I am delighted that Paragon has facilitated 3DT’s acquisition of new equipment from Chester Machine Tools, two leading specialists in their fields.
By providing innovative businesses with access to funding in a timely and efficient manner, Paragon is playing a key role as a catalyst for growth in the manufacturing sector. I look forward to supporting other businesses in accessing the funding necessary to further their aims and grow their client base.”
Paul Reeves, a founding partner of 3DT, added: “As we continue to grow our customer base it is important that we can acquiring the equipment necessary to increase our capacity and the range of services 3DT is able to offer. Thanks to Wayne Hall and the team at Paragon we have been able to do both, as part of a smooth and easy process that will allow us to develop, design, and manufacture pioneering products.”
Discussing Paragon’s role in facilitating the deal between 3DT and themselves Graham Cherry, Chester Machine Tool’s CNC sales manager, said: “I have been involved in the machine space for many years and have had an excellent experience working with Paragon. The company’s knowledge in the machine space, together with its appetite and willingness to support Chester and our customers has been a breath of fresh air.
“From the initial introduction Paragon dealt with the whole transaction and made it very simple and straight forward for us and the customer. The dialogue and the relationship built is one which will be long lasting and one that adds significant value to Chester’s proposition, as well as supporting our customers advance in their respective businesses.”