Defence firm looks to grow with funding boost

A defence manufacturer is set to boost its international reach following a multi-million-pound funding package.

Coventry’s NP Aerospace, known for military armour and vehicle support, has secured funding from NatWest to expand export operations. 

The package includes a trade finance facility backed by UK Export Finance and capital investment from Lombard, which bosses say will enable the firm to enter new markets and support future growth, including the creation of jobs.

Will Davis, chief financial officer at NP Aerospace, said: “As we continue to grow the business to meet the needs of clients, it has been crucial that we have had a finance partner like NatWest who understands our unique needs as a business. 

“The team at NatWest has been extremely proactive and responsive and is incredibly knowledgeable about the defence industry and how it operates.”

Operating for nearly 100 years, NP Aerospace, which supports more than 18,000 military vehicles worldwide, employs 380 people globally, with 300 based in the UK. 

Recent expansion includes acquiring assets from Jankel Armouring Limited and broadening its portfolio to include tactical and civilian armoured vehicles, armour technologies, seating systems and through-life support services.

Will Jones, relationship director at NatWest, added: “NP Aerospace is building a sustainable business, which will continue to support the defence industry for many generations to come. 

“As the UK’s biggest bank for business, we know businesses like NP Aerospace are central to further economic growth and we wish the management team every success in achieving long-term growth goals.”

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