Engineering firm that worked on 2012 Olympics sports complex secures funding

A Doncaster engineering firm which made the steel walkways for the sports complex in the 2012 Olympics has secured £150,000 in funding.

Universal Coatings will use the money to fulfil new contract wins and expects to create seven jobs.

The company provides coatings for everything from swimming pools to steel structures and also offers a complete fabrication service.

In addition to supplying fixtures for the Queen Elizabeth Olympic Park and other events, it has built many canal bridges and specialises in conservation work such as the restoration of statues and structures at heritage sites.

Universal Coatings was founded in 2007 by two schoolfriends – Phil Bingham who had a background in the industry, and Phil Pantry who had worked in agriculture.

The company now employs around 18 people.

The loan was provided by NPIF-Mercia Debt Finance, which is managed by Mercia Fund Managers and is part of the Northern Powerhouse Investment Fund.

Bingham said: “Universal Coatings works on projects around the country. Structures are fabricated in our Doncaster workshop and we then send a team to the site to install them. However we need access to finance to fund projects of this type and the bigger the jobs, the greater the sum required. The funding package from NPIF – Mercia Debt Finance was ideal for our needs.”

Peter Sorsby, investment manager with Mercia Fund Managers, said: “In the space of just over a decade, the Universal Coatings team have built a strong track for their expertise and reliability and are now a supplier of choice for many government and heritage bodies. This funding will support them as they deliver their next round of contracts and continue to grow the business.”

Andy Stokoe of Smith Craven Chartered Accountants provided fundraising advice to the company.