Birmingham’s oldest manufacturer sets sights on the future following £1m funding boost

Civic and military regalia manufacturer Toye Kenning & Spencer, Birmingham’s oldest manufacturer, has secured a £1m loan to invest in equipment, improve facilities and support growth of the business.

Established in 1685, Toye manufactures a range of medals, regalia, bespoke jewellery, badges, including coloured ribbons, braids and laces, used in the production of ceremonial uniforms and gowns.

The firm has held a Royal Warrant to the British Royal Family without interruption since the reign of Queen Victoria to the current monarch Queen Elizabeth the II.

Toye operates from two Midlands factories; one in Birmingham and the other in Bedworth. The firm’s Birmingham factory is home to its metal manufacturing facility, while the Bedworth factory is used for textile production.

The company’s customers range from the UK’s Ministry of Defence to international fashion houses, sporting organisations and local schools. Toye is a family-run company, led by CEO, Charles Toye, who succeeded his father in 2019.

Toye said: “While a historic business, we are set to take on several new initiatives over the coming year. We are looking forward to the new opportunities the funding will provide.”

The Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners provided the funding.

Andy Povey, investment manager at Maven said: “We are delighted to lend to Toye, a long-established Birmingham business with a rich heritage. The business has very clearly defined its niche and is a market leader, boasting a Royal Warrant. The company has ambitious plans for the future and we look forward to seeing these unfold.”

Pat Hanlon, director for access to finance at GBSLEP, said: “Birmingham has a rich history as a centre of manufacturing with Toye Kenning & Spencer having been at its heart for centuries. Being one of fewer than 20 family companies in Britain, which has operated for more than 300 years, is a remarkable achievement and supporting this expansion plan is proof of how these funds can benefit both new and well-established businesses.”