Growth Fund - Loans & Equity Case Study
Doncaster-based Noel Village is one of the UK’s leading independent foundries, its products used by valve and pump manufacturers around the world. A £750,000 Equity Linked investment from Finance Yorkshire will enable it to reach the next level of growth and development.
A family-owned business established in 1980, Noel Village has progressed from casting carbon steels for mining and engineering purposes to high specification steels for the oil, gas and nuclear industries. It is one of the UK’s leading low-volume stainless and high alloy steel foundries, and currently exports around 20% of its products.
Heat treatment of castings is currently sub-contracted as Noel Village does not have the necessary facilities on site. The ability to undertake this service in house would significantly reduce lead times for customers.
A £750,000 Equity Linked investment will allow the business to invest in on-site heat treatment facilities, enabling Noel Village to move forward with its strategy of becoming the UK’s leading high intregrity foundry.
In addition, the firm has further strengthened its management team by appointing former Sheffield Forgemasters Chairman and Chief Executive David Fletcher as Non Executive Chairman.
The Investment Rationale
Finance Yorkshire Investment Director Paul Gower said: “This is a good opportunity for Finance Yorkshire to invest in an established family firm which has ambition to grow and is willing to strengthen its management and undertake significant investment.”
Noel Village Managing Director Richard Edwards said: “We believe the future belongs to businesses which understand that quick turnaround and great service are priorities. Investing in heat treatment facilities means that customers will benefit from faster lead times, and we will be better positioned than ever to supply increased specification castings to the entire energy sector.”
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0845 649 0000.
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire