A GLASGOW engineer that makes high-precision components for the aerospace, defence and industrial sectors has received a further cash injection from growth investor BGF after receiving an initial £4 million boost at the start of this year.
When it received the initial backing in January Walker Precision Engineering said it would use the cash to invest in specialist engineering equipment for its Glasgow East Investment Park base, switch its operation in Basildon to a custom-built unit, and double the capacity of its manufacturing base in Poland.
Having now received a further £2.75m from BGF, the company said it plans to expand its presence in existing and new markets on the back of recent customer wins.
“Walker has grown substantially since BGF’s original investment, as its financial support allowed us to quickly upscale our existing operations and realise some new opportunities,” said the company’s managing director Mark Walker.
“The team can move quickly on decisions, which puts us in a very competitive position within our market place.
“This investment will give the company the working capital we need to support our strategic growth plans. We’re excited by the prospects presented to us.”
Walker Precision Engineering, which was founded in 1979, is run by Mr Walker alongside his brother Gary.
The business currently employs 260 people across its three bases, 12 of whom were recruited since receiving the initial BGF money.
Paddy Graham of BGF said the brothers had “already demonstrated Walker’s long-term growth potential by increasing the demand for its manufacturing services from the defence and industrial sectors in particular”.
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