Regional Growth Fund - GWR Fasteners Ltd

Regional Growth Fund - GWR Fasteners Ltd

 

Company profile

GWR Fasteners LTD is a manufacturer and online distributor of standard and specialised fasteners and precision engineered components, based in Oswestry, Shropshire.

Working with clients of all sizes from all over the world, the company has an extensive product range that includes GWR Colourfast®, a unique process of colouring stainless steel fasteners and components.

Challenge

GWR Fasteners needed to invest in a new CNC machine that would allow them to produce their own specialist components and reduce their reliance on third party suppliers.

They also wanted to expand their customer base by offering a wider range of services and needed to develop, a new product range that they could sell through their online distribution channels, both of which would require new machinery.

Solution

Working with Simon Parker, Area Sales Manager at Close Brothers Asset Finance, GWR Fasteners were guided through an application for Regional Growth Fund grant assistance and were subsequently awarded £18,740 towards the cost of their new machine.

In addition to the grant, Close Brothers Asset Finance were also able to provide a flexible Hire Purchase package that complemented the deposit paid by the Regional Growth Fund.

Result

The new CNC machine purchased by GWR Fasteners has been a great success for the company and they recently ordered a second machine, again with the support of Close Brothers Asset Finance.

Thanks to the machine the company has been able to offer it’s existing customer base a new range of components with shorter lead times, and they now have the capability to manufacture specialist components to their client’s specifications. GWR Fasteners are also able to manufacture specialist and obsolete fasteners that are no longer available.

Sales from both new and existing customers have increased due to the machine’s capacity and the company has since recruited one new member of staff, with further plans to hire in the near future.

Jude Robinson, Commercial Director at GWR Fasteners said "Close Brothers Asset Finance understood our needs and assisted us throughout the Regional Growth Fund application. Without this backing we wouldn’t be where we are today. They saw our potential and continue to support us as we grow."

Click here for more information about the Regional Growth Fund.

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