Boat builder sails ahead with £6 million boost

A boat builder is gearing up for further growth following a major cash injection to support surging global demand.

Marine Specialised Technology (MST Group), which builds high-speed vessels for military, coast guard and security clients, has secured £6 million in funding from NatWest. 

Bosses say the investment will support the company’s working capital needs as it fulfils a record order book and continues to expand its training and maintenance services.

Ben Kerfoot, group managing director of MST Group, which employs 135 people, said: “We are extremely pleased to be working with NatWest, who has created this major funding package for us in an efficient, thorough and flexible manner.

“Working in a specialist industry as we do, NatWest really took the time to understand our business, and we look forward to having this enhanced financial capability to scale our operations and meet rapidly accelerating demand. 

“This is a milestone moment for us.”

Founded in 2002, Bromborough-based MST Group develops rigid inflatable boats (RIBs) for use in extreme conditions, providing bespoke design and support for international clients.

The company’s growth aligns with Liverpool City Region’s ambitions to drive innovation through advanced manufacturing.

Daniel Hyland, relationship manager at NatWest, added: “We are delighted to be providing this £6 million funding package to MST Group.

“We were impressed by its hi-tech, bespoke approach to serving clients, including crucial defence and search-and-rescue forces internationally, and the team’s significant potential for growth. 

“We look forward to continuing to support them on their journey.”

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