The automotive tool manufacturing and injection moulding supplier was able to support their growth ambitions by acquiring a larger manufacturing facility through the support of commercial mortgage by Lombard.
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About Petford Group
One of the country’s fastest growing firms, this Dudley based company is a specialist in automotive tool manufacturing and injection moulding. They work with some of the biggest names in the sector including Jaguar Land Rover, Bentley and Aston Martin.
What did they want to achieve?
Established in 1471, Petford Group’s focus was design and tooling. But in the last few years the moulding side of group has grown very rapidly establishing the need for a larger manufacturing facility to support the expansion of the business.
An ongoing finance facility would help them with the flexibility of acquiring assets required for the expansion.
How we helped
Relationship Director, Stuart Mann from Lombard understood Petford Group’s ambitions and supported them with an ongoing financing facility from Lombard to enable them acquire assets. Additionally NatWest provided a commercial mortgage to help them acquire a larger manufacturing facility.
“We can tender for contracts knowing that if we need to invest in additional assets we already have a funding facility in place.”
Managing Director, Petford Group