Manufacturer in 'milestone' £35 million growth plan

An energy sector parts maker says it is set to power ahead after securing £35 million management buyout support.

X-Cel Group is targeting international growth and sector expansion.

The blueprint comes after the Rotherham-based company was bought by directors David Barton-Phillips and Tim Heron alongside Louis Wragg and Dale Stocks.

The firm’s new bosses – who replace retired founder and chair Andrew Taylor – say the move leaves it primed to expand across US and South East Asian markets and win new work in the aerospace and nuclear industries.

They add it will support an expected £10 million turnover increase at the 130-staff firm, which supplies machined parts to industries including oil and gas, renewables and defence, over the next three years.

David said: “The ownership transition has provided X-Cel Group with a strong foundation to build further on our growth strategy for the future. 

“This milestone marks a new chapter for the business, as we continue to expand our services to clients overseas and our offerings across oil and gas, aerospace, renewables and nuclear markets.”

Its growth plans – which also include opening a 20,000sq ft base to expand operational space to 140,000sq ft – have been supported by eight-figure HSBC UK funding.

Lee Manterfield, HSBC UK global relationship manager, added: “It’s fantastic to see X-Cel Group continue to fly the flag globally for manufacturing excellence in South Yorkshire.

 “As the market evolves, demand for X-Cel services looks set to increase and diversify.”

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