High tech manufacturer set for expansion after new finance package

A high-tech Warwickshire manufacturer is embarking on an expansion programme after securing a new finance deal.

Silson makes ultra-thin membranes for use at the cutting edge of science around the world. It has received backing from Lloyds Bank Commercial Banking and the University of Warwick Science Park.

The firm, which is now based at Insight Park in Southam, has invested around £1m in its future growth over the past two years by moving to the new base and purchasing new, advanced machinery.

A £373,000 funding package from Lloyds Bank allowed director Peter Anastasi to buy and set up the new premises at Insight Park and purchase a specialist electron-beam deposition tool.

The new equipment, which was also helped by a £35,000 grant from Warwickshire County Council after support from the University of Warwick Science Park’s Business Ready programme, is set to increase the business’s annual turnover by introducing x-ray filters to its range of products.

The company manufactures and sells its ultra-thin membranes to around 600 customers in 35 countries around the globe, which include research institutes working with x-ray and electron beam technology.

Silson is now looking to expand with the aim of turning over several million pounds and recruiting new staff. It is also looking to start working on new applications for graphene, one of the most exciting material discoveries for many years.

Peter Anastasi, director at Silson, said: “Our products are very thin membranes – unbelievably thin – around 100 nanometres thick. They are made like small windows that allow light to pass through and that makes them ideal for the use in x-ray and e-beam research.

“It’s a very niche market – we are one of the only companies in the world making them and we sell them to research institutes across the globe, including synchrotrons.

“After a referral from the CWLEP Growth Hub, The University of Warwick Science Park, through Business Ready, has been extremely supportive. The grant funding is extremely important to us and they are also helping us with our future strategy for expansion and diversification.”

This means not only attracting new customers but also using the new equipment to provide value-added services to existing clients to help the firm grow.

Noshad Khowaja, Silson’s relationship manager at Lloyds Bank Commercial Banking, said: “The new specialist equipment will enable Silson to expand both its product range and the business.

“We have provided tailored funding for the business, including asset finance and loans, which will help Peter invest in growth plans for the future.”

Dirk Schafer, a Business Ready adviser at the University of Warwick Science Park, said: “This is very exciting technology, which is really at the cutting-edge of science and that must be married with a robust plan for growing.

“Through the support of Business Ready, we have helped to draw in additional funding and to look at ways that the company can diversify and grow its market.”