Birmingham engineering business secures funding for expansion
A Birmingham precision engineering business has secured a seven figure funding package to develop its future growth.
The funding was facilitated by Liquidity Club, a finance brokerage house, which managed the process of securing the cash from the challenger bank, Aldermore.
Burcas operates in the oil, gas and aerospace and rail sectors, employing 60 staff. The funding will enable the business to achieve its target of 20% turnover growth in the next year, in both domestic sales and exports, with a focus on the Far East and Europe.
Mike Burrows, managing director of Burcas said: “Growth is strong in the aerospace and oil and gas sectors and I am very keen to increase our presence in both domestic and international markets. We are looking to take advantage of the competitive value of the pound, particularly against the euro, to boost our export sales across Europe. The funding we have received gives us the confidence to focus on this activity and continue our growth plans which will encourage new customer and business opportunities for Burcas Ltd.”
Paul Varley of Liquidity Club added: “Burcas Ltd is a well established manufacturer and I am delighted to work with Mike. With the index of Manufacturing Production contracting by 1.4% in April due to bad performance in both the domestic and export markets, Burcas is bucking this trend. The business has been at the leading edge of technology and quality for over 70 years, providing innovative engineering solutions to aerospace, defence and precision engineering markets. With Burcas’ strong order book, it was important to secure a funding package that allows Mike to fulfil his growth ambitions.”
