Crucial Engineering locks in £250,000 funding

An aluminium door and security access firm is eyeing expansion after securing a £250,000 boost.

Crucial Engineering has been backed by a NPIF II – Mercia Debt Finance loan.

Bosses say they will use the cash to “press on with growth plans” by taking on larger projects and creating three new roles in the coming weeks, with an “ultimate aim” of expanding outside of Yorkshire and “building a network of depots nationwide”.

The investment follows the company’s move to a 35,000sq ft base in Bradford last year, which was five times larger than its original premises in Leeds, as well as a spate of recent high-profile contract wins.

Founded in 2016, the firm provides facades, shutters, barriers and security systems for commercial properties, serving clients such as Travis Perkins, Arnold Clark and Vertu Motors.

Paul Van Heeswyk, founder and managing director, said: “Our investment in the new unit has proved worthwhile, as it highlights our capabilities to larger clients and has helped us secure a range of new contracts. 

“The funding will enable us to press on with our growth plans.”

David Wright, investment manager at Mercia Debt Finance, added: “Paul is an ambitious and dynamic entrepreneur, who is focused on growth and has a clear vision for the future of the business. 

“We are pleased to be able to support him on the next step of the journey.”

Operated by the British Business Bank, the £660 million Northern Powerhouse Investment Fund II covers the North of England and provides loans from £25,000 to £2 million, and equity investment of up to £5 million, to small and medium-sized businesses.

Lizzy Upton, senior manager at the British Business Bank, added: “Crucial Engineering is using the fund to not only invest in sustainable initiatives like its solar-powered vehicle access barrier, but also to boost the regional economy and create jobs in the area.”

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