A Wirral-based engineering company which designs, manufactures and installs metal products for UK industry is expanding with backing from MSIF and NatWest as part of a £160k investment.
Yorkwall Engineering Limited, based in Ellesmere Port, will create 20 new jobs during the next two years and expects its current turnover of £500k to increase to over £1m next year.
The company was established 17 years ago and bought by director Jonathan Willoughby last year.
Yorkwall employs a team of skilled engineers, welders and assemblers to provide a range of products including conveyor systems, platforms, structural steel, pipework, tanks and vessels.
Clients include companies in the oil and gas, petrochemical, marine, retail and construction sectors.
MSIF has provided a £40k loan alongside a £60k loan from NatWest and the director’s own investment.
Managing Director Jonathan Willoughby said: “We have built up a strong customer base and believe that there are significant opportunities to grow the business.
“Current projects include the refurbishment of plant components, flanges, shafts and bearing housings to the manufacture of batches of small items for use in other non-plant equipment.
“The funding will be used to invest in marketing, new employees and equipment enabling the business to enhance its offering to include a variety of machining, fabrication, welding, structural, mechanical engineering, laser cutting and site services.
“All staff are highly experienced at working with a variety of steel and non-ferrous materials to carry out precise and intricate engineering projects."
“Despite some negative reports in the media, we are seeing confidence within the manufacturing sector. The recent announcement of the amount to be invested through Northern Powerhouse in the Liverpool City Region and beyond will help boost industry in the region and we believe this will have a positive impact on our business."
“Without the assistance from our financial partners MSIF and NatWest, we would not be able to undertake the aggressive expansion plan we have in place in regards to employees, equipment and expanding the services we offer.”
MSIF investment manager Sue Chambers said: “Yorkwall has a fantastic reputation in the marketplace and a very experienced workforce. With Jonathan now at the helm, they also have a managing director who is very focused on driving the business forward. The company has recently won some lucrative new contracts and is adding new products and services which will help the business expand into new markets.”
David Jones, relationship manager from NatWest said: “NatWest is delighted to help support Yorkwall as it expands its operations. This investment is not only good for the business but will benefit the local economy, creating jobs and sending out a positive message about manufacturing in the North. We wish them every success.”