Leeds manufacturer boosts India growth strategy with seven-figure funding
A Leeds manufacturer of energy infrastructure equipment is continuing its growth strategy with a seven-figure funding package from HSBC.
Wilson Power Solutions plans to grow its company in the UK and in India. The firm was established in 1946 and is a manufacturer of industrial switch gears and battery trip units.
Over the course of several years now, it has invested into its presence in India and has now agreed to a partnership with HSBC to scale growth.
The bank’s funding package will provide working capital to support Wilson Power Solutions pursuing significant contracts, like the India national railway.
This is said to enable the business to scale up its workforce internationally and purchase raw materials at short notice. Indian operations are expected to grow 50 per cent in the next year.
Simon Wilson, Wilson Power Solutions’ managing director, said: “Manufacturing in the UK has been, and will continue to be, key to our company’s growth and success.
“However, our continued investment in our manufacturing facility in India continues to reap rewards for our business, allowing us to capitalise on the booming local economy and win new contracts.
“HSBC’s global footprint has also allowed us to bring all our trade facilities seamlessly under one roof, giving us the means of meeting larger, more demanding contracts.”
Wilson Power Solutions remains a family-run firm and is headquartered in Beeston, Leeds. Over 140 people are employed by the firm worldwide and last year it enjoyed over £17.3m of sales. It has supplied energy infrastructure for a range of clients, including Tesco, SSE and the NHS.
Jamie McCullough, HSBC UK’s corporate relationship director for West and North Yorkshire, added: “Despite already enjoying success in the UK, Wilson Power Solutions has also successfully grown its production facility in India over a number of years.
“The business is a fine example of Yorkshire entrepreneurship and we’re excited to support this global business both in the UK and overseas in its growth strategy.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →