Huddersfield engineering firm ‘ratchets up’ growth via £100k NPIF funding

A specialist industrial and commercial gearbox engineering company, which has been trading for nearly a century, is targeting a new phase of growth after securing £100k in loan funding from Finance For Enterprise and NPIF – BEF & FFE Microfinance, which is part of the Northern Powerhouse Investment Fund (NPIF).

Huddersfield based Highfield Gears specialises in re-engineering and repairing a wide range of industrial gearboxes, which are used in the aerospace, manufacturing and traditional heavy industries.

With a range of clients spanning the globe, which includes Tata Steel, Heineken and Dulux, company owner Jack Walker, who took over the helm of the business in 2018, decided to draw on his own engineering background to target new market sectors.

Recognising that the company’s 16,500 sq ft facility, equipped with two 10 tonne cranes and the capacity to lift 20 tonnes, was capable of manufacturing and repairing large, complex machinery and, supported by a 16 strong team of engineers, Jack began exploring opportunities for the business within the oil, gas and aerospace sectors.

With a number of new orders lined up, managing director Jack recognised additional machinery would be needed, helping the business to produce the specialist parts more easily.

Despite benefitting from a “vastly experienced and knowledgeable” workforce, Jack also recognised the importance of investing in technology, helping to reduce production times through automating part of the CNC machining process.

After approaching Finance For Enterprise for help, Highfield Gears successfully secured a £100k loan, which was jointly funded from Finance For Enterprise and NPIF – BEF & FFE Microfinance.

With funds in place, Highfield Gears invested in a horizontal boring CNC machine, increasing capacity and creating three new jobs within the business and ensuring the skills and knowledge that the company has been built can be passed on to the next generation of engineers.

Since drawing the funds, Highfield Gears has secured a number of new contracts and is setting its sights on further growth in the future.

Jack commented: “Securing the funding from NPIF and Finance For Enterprise means that we will not only be able to invest in new equipment, helping the company to operate more effectively, but it will also help us retain the skills that the company has been built on, creating new opportunities for the next generation of engineers.”

By Matthew Neville – Correspondent, Bdaily

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