Pailton growth ambitions backed by Barclays Corporate

COVENTRY-based Pailton Engineering has received a £400,000 asset finance deal and working capital facilities from Barclays Corporate to support further growth.

The deal follows a slew of new orders won by the Holbrooks-based company which makes systems for the truck, construction and military sectors.

Managing director John Nollett said: “The economic downturn has had an adverse affect on a number of industries, some of which were key to our business, but our strategy to diversify into new markets has paid off and has resulted in new orders for the business. I am pleased that Barclays Corporate shared our and has continued to support us with our latest growth strategy.”

Pailton was established in 1969 making  precision tools, and later diversified  into steering systems.

Barclays Corporate relationship director Richard Fray said: “Pailton is a great example of a UK manufacturing business which has not only weathered the economic downturn but has grown over the period by optimising opportunities to diversify into new markets.

“It has enjoyed tremendous success in the military industry which has seen the company win a number of new orders which has put it in a strong financial position.

“John’s insight has been invaluable which has not only secured jobs but created new ones and I am delighted that Barclays Corporate has been able to work with Pailton on their latest expansion.”

Richard Fray of Barclays Corporate with Pailton MD John Nollett