Steel Benders UK (SBUK) has matched significant external funding from Teesside Flexible Investment Fund to support its landmark expansion project.
The development of Steel Benders’ new 40,000 sq ft industrial premises at the former Caparo and forge plant site on Brenda Road in Hartlepool is well underway.
And the project has been funded by a collaborative investment, which sees the firm match significant external funding via the Fund with its own substantial financial commitment.
SBUK’s new development will enable the steel profiling and forming specialists to relocate its operations from Middlesbrough and embark on an exciting new chapter of growth. Once operational, it will double the firm’s capacity and create at least 15 new jobs for the local community.
Delivered
The funding has been delivered via the Teesside Flexible Investment Fund which is managed by FW Capital with investment from the Teesside Pension Fund.
The development will create a modern office space and a base for the only 8x2m fibre laser cutting bed in the North of England, further increasing SBUK’s capabilities and service offering.
Established in 2002, SBUK is the largest steel bending company in the North-East offering high-precision services such as plate rolling, section bending and press braking.
The firm’s facilities use advanced high-definition plasma and laser cutting technology, making it a comprehensive one-stop shop for steel profiling.
State-of-the-art
Tania Cooper, owner and director at SBUK said: “The new facility provides the necessary scale and infrastructure to house our latest state-of-the-art machinery.
“This expansion, underpinned by significant capital investment, enhances our capacity for large-scale bending and profiling.
“This site is a testament to the future of SBUK and our commitment to the region. We are grateful to the team at FW Capital for their invaluable partnership in realising this vision.”
Lesley Telford, senior investment executive at FW Capital said: “With a 20-year track record of excellence across the UK, SBUK is now deploying this investment into scaling up.
“It’s fantastic to back their new Hartlepool development through the Teesside Flexible Investment Fund – an investment that directly fuels their expansion and meets the rising demand for their expertise.”
Councillor John Kabuye, chair of the Teesside Pension Fund Committee, said: “The Flexible Investment Fund is all about supporting local businesses to grow, creating new jobs and prosperity for the whole Tees area.
“SBUK are at the cutting edge of this highly specialised field, and I wish them every success for the future.”
Designed by FW Capital with investment from the Teesside Pension Fund, the Teesside Flexible Investment Fund provides a mix of property development funding, contract-related bond finance and finance to support management teams in buying a business, covering Hartlepool, Middlesbrough, Redcar and Cleveland and Stockton-on-Tees.
This provision of loan and equity packages to support management buy-outs and the transfer of ownership is a first for FW Capital.
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