Specialist boat builder sets course for expansion with £6m funding package
A Wirral specialised boat maker is expanding to meet record demand, funded by a £6m support package from NatWest.
Marine Specialised Technology (MST Group), designs and builds high speed and rigid inflatable boats (RIBs), primarily for the military, coast guard and law enforcement sectors.
Founded in 2002 and based in Bromborough, between Ellesmere Port and Birkenhead, the company has grown to become a major employer in the Wirral area, with approximately 135 staff.
The £6m funding package will allow the business to manage working capital requirements as it looks to fulfil a record order book and increased demand for its products and training services, primarily supporting the likes of coast guard, special forces, law enforcement, paramilitary, and industrial services.
MST Group says its vessels are considered best in class and provide enhanced operational capabilities to perform effectively in the most challenging of environments.
The business works closely with clients during the development process to understand their specific needs before any manufacturing begins. The firm also offers wrap-around services such as bespoke training on vessel operation, technical support, craft maintenance and repair, as well as spare parts and vessel upgrades as technology advances.
MST’s services and operations also tie in with Metro Mayor Steve Rotherham’s stated aim to grow the economy through three key clusters within the Liverpool Combined Authority region, one of which is advanced manufacturing.
Ben Kerfoot, MST Group managing director, said: “We are extremely pleased to be working with NatWest, who has created this major funding package for us in an efficient, thorough, and flexible manner.
“Working in a specialist industry as we do, NatWest really took the time to understand our business, and we look forward to having this enhanced financial capability to scale our operations and meet rapidly accelerating demand. This is a milestone moment for us.”
Daniel Hyland, relationship manager, NatWest, said the bank was impressed by MST’s hi-tech, bespoke approach to serving clients, including crucial defence and search-and-rescue forces internationally, and the team’s significant potential for growth.
