BCW Engineering plots future growth
Burnley-based BCW Engineering is looking to secure additional investment which should help take the company past £20m turnover and beyond.The asset-backed finance, worth up to £2m over the next couple of years, will be provided by Close Brothers banking group.
Steve Gee, divisional managing director for industrial and manufacturing equipment at Close Brothers, said his firm had been backing BCW since its inception in 2002.An initial funding deal of £95,000 helped the company purchase its first machinery, back when it employed just a handful.
Today, the company has a workforce of 120 and is based in 30,000 sq ft premises at the site of the old Michelin factory.“Back then, I was willing to help chief executive Alec Cassie because of the strength of the management team he had drawn together,” said Gee. “I like what they stand for. They have a strong apprenticeship programme and they are happy to recruit individuals who need a second chance.”
BCW’s ultimate goal is to reach £100m turnover, something Gee believes the company is capable of. “A lot of firms struggle to grow past £30m, but I believe BCW has the vision and the ability to create the infrastructure which will see them break that barrier.”