West Midlands manufacturer eyes growth after seven-figure funding from banking group

A renowned West Midlands-based manufacturer has its sights set on future growth supported by a series of environmentally friendly measures to reduce energy consumption.  

Following a seven-figure funding package from Lloyds, Clevedon Fasteners used the loan to boost cash flow and invest in eco-friendly practices. The business is now on track to double its turnover in the next year.   

The business was founded in 1939, and creates high quality British-manufactured window hinges, door locks and automotive components, expanding from a regional supplier to supplying 38 countries worldwide.  

The measures include using cold forging, a technique which minimises waste and energy use, as well as outsourcing to specialised providers with the necessary environmental infrastructure to significantly reduce its energy consumption and operational costs.  

 The financial support was instrumental in enabling Clevedon Fasteners to invest in energy-saving initiatives, allowing the firm to reinvest in boosting productivity and expanding its operations. 

The team is committed to reducing its environmental impact as it continues to enhance its production processes.

Over the past two years, the firm has reduced carbon emissions by 15% through optimising transport routes, and fitted energy efficient LED lighting in its facilities, closing two satellite locations, which further decreased waste and energy usage.

These measures have enabled the business to improve operational efficiency, which has increased productivity by 28%. 

 Steve Hardeman, managing director at Clevedon Fasteners, said: “Securing this funding was essential in supporting our business journey, helping us to continue on our path towards sustainable growth.  

“The loan has helped us to reinvest capital our operations and continue our efforts in making our manufacturing processes greener and more efficient. We’ve faced countless challenges over the years, but it’s this ability to adapt and evolve that has kept us going.  

“With this support, we can look forward to a future that not only sees us doubling our growth next year but also allows us to invest more in our sustainable initiatives and innovative manufacturing techniques.” 

Claire Carr, relationship manager at Lloyds, said: “Clevedon Fasteners is an example of a resilient and innovative British manufacturer. We’re proud to support with the financing they needed to help shape their future. 

 “The journey Clevedon has taken is inspiring, from a small regional business to a global exporter, and we look forward to seeing how this funding will help them achieve their growth ambitions and energy transition.” 

Pictured: Steve Hardeman and Charles Hopkins with Lloyds' relationship manager, Claire Carr