West Bromwich-based
Brockhouse Forgings, a manufacturer of steel forgings, is looking to the future as it enters its 140th year with the support of a six-figure funding package from business investment specialist
UKSE. The firm is looking to increase its top-line growth and expand into new markets.
Established in 1885, Brockhouse Forgings manufacture and supply high quality, forged steel components to a range of industrial sectors including mining, oil and gas, railway, nuclear, automotive, and defence. With the largest range of forging equipment in the UK, the business will use the funding to generate new business for its closed die hammer and upset forgings.
The business currently employs 43 people, with many generations of family members employed by Brockhouse Forgings over the last 140 years. UKSE provides finance of up to £1 million to support local businesses in the West Midlands area, and its equity finance packages leaves the management team in control, providing ‘patient capital from a supportive partner’.
Rather than obtain funding from mainstream lenders, Brockhouse Forgings was introduced to UKSE by Select Business Finance which was established by Chris Jones in 2008 and is an an independent commercial finance broker, which helps companies to source a range of finance products, as well as equity investment and grants.
140th year in businessBrockhouse Forgings director Steve Walters said: “UKSE have been very supportive throughout the whole process. It is great to know that there is funding out there for steel-related industries. While we have deep roots in the region, our business is known globally and as we celebrate our 140th anniversary we look forward to using the funding to grow our customer base and to secure the business for another 140 years.”
UKSE area manager Steve Grice added: “Brockhouse Forgings are a great example of a traditional manufacturing business looking to innovate and grow. We wish them all the success in their 140th year in business and delighted to support Steve and the team with their growth plans.”
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 Shropshire.
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 are also available, often without the need for personal guarantees. To date, UKSE has invested over £115 million, supporting 8,000 businesses and stimulating the creation of an estimated 83,000 new jobs.