Kespar Engineering Ltd is a specialist die and tool manufacturer in the UK forging industry. Kespar has over 20 years experience in manufacturing asset critical parts for tools and plant equipment and are experts in their field.
Established by Director Peter Parkes over 20 years ago, the Bilston based company has a large client base and is always attracting new clients who need their expertise.
Peter wanted to grow the business by expanding the range of machinery to increase productivity and cope with demand.
A Hurco CNC machining centre with its capacity of making chips faster than any other CNC tool would be a perfect addition.
Peter contacted Close Brothers Asset Finance and met with his local Regional Sales Manager for the manufacturing industry, Robin Timms. Robin advised on all of the asset finance options available to Kespar that would best support Peter’s plans to grow the business.
It was agreed the best option was a Hire Purchase agreement with fixed monthly payments spread over a fixed term. Kespar would be paying the asset off whilst it was in use and at the end of the agreement, the asset would belong to them.
Kespar was able to purchase the piece of machinery that was specifically ideal for high precision batch work and replaced a smaller machine that was unsuitable to cope with current demand, thus increasing efficiency.
The new machining centre has increased productivity allowing Kespar to look at expanding the business further in machinery and staffing levels.
Peter Parkes said: “We have built a long and loyal relationship with Close Brothers over the years and they are my first point of call when I’m looking at purchasing equipment.”