Six-figure investment helps steel business forge a strong future
A West Midlands manufacturer of steel forgings is looking to the future as it enters its 140th year following funding from business investment specialists UKSE.
Brockhouse Forgings, based on Howard Street in West Bromwich, has secured a six-figure funding package from UKSE to support the company’s top line growth and expansion into new markets.
Established in 1885, Brockhouse Forgings manufacture and supply high quality, forged steel components to a range of industries including mining, oil & gas, railway, nuclear, automotive, and defence.
Boasting the largest range of forging equipment in the UK, the business will use the funding to generate new business of its closed die hammer and upset forgings.
The business employs 43 members of staff, with many generations of family members employed by Brockhouse Forgings over the last 140 years.
UKSE provides finance of up to £1m to support local businesses in the West Midlands area. UKSE’s equity finance package leaves the management team in control, patient capital from a supportive partner.
Rather than obtain funding from mainstream lenders, Brockhouse Forgings was introduced to UKSE by Select Business Finance.
Established by Chris Jones in 2008, Select Business Finance is an independent commercial finance broker, helping business source a range of finance products, as well as equity investment and grants.
Brockhouse Forgings director Steve Walters said: “UKSE have been very supportive throughout the whole process. It’s great to know that there is funding out there for the steel related industries.
“Whilst we have deep roots in the region, our business is known globally and as we enter our 140th year in business we look forward to utilising the funding to grow our customer base to secure the business for another 140 years.”
UKSE area manager Steve Grice added: “Brockhouse Forgings are a great example of a traditional manufacturing business looking to innovate and grow. We wish them all the success in their 140th year in business and delighted to support Steve and the team with their growth plans.”
Providing strategic loan and equity packages of up to £1m to generate growth, UKSE’s West Midlands team create local job opportunities and bolster the economy by supporting SMEs across Birmingham, the Black Country, Coventry, Staffordshire and Shropshire.
UKSE supports the local economy by making equity investments, ensuring management stays in control of the business and offers a flexible exit policy. Unsecured loans are also available, often without the need for personal guarantees.
To date, UKSE has invested over £115m, supporting 8,000 businesses, stimulating the creation of an estimated 83,000 new jobs.
Pictured: UKSE regional executive Mike Lowe, Brockhouse managing director Steve Walters and Select Business Finance founder Chris Jones
