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Regional Growth Fund & Hire Purchase - B&H PT Limited

B&H PT Ltd - Regional Growth Fund and Hire Purchase

High quality tooling for the aviation industry

Established in 1996, B&H PT Limited is a precision engineering company based in Reddish, Stockport.

Specialising in the aerospace sector, the firm works closely with a number of leading aircraft manufacturers, providing specialist tooling for their subsidiaries in the UK, Germany and France.

Demand for a new service

In order to fulfil a specific job and key contract, B&H PT Limited needed to purchase a new Asquith Butler mould tool.

The machine, which is the largest of its type in the UK, would allow the manufacture of a carbon fibre tool to create the main beam for a particular aircraft.

The new equipment was also part of wider plans to upgrade existing machinery, and an important factor in their risk management strategy. Having the additional equipment would give B&H PT an alternative manufacturing facility should there be issues with any of their other machines.

Fast, tailored funding

Seeking to raise £250,000 to purchase the new machine B&H PT was recommended to speak to Close Brothers Asset Finance.

Area Sales Manager, Matthew Graham from Close Brothers identified that B&H PT would be eligible for a grant from the Regional Growth Fund and working together on the application process, a grant of £50,000 was quickly secured towards the cost of the new machine.

A five-year Hire Purchase agreement, tailored to the company’s cash flow, was also then put in place to cover the remaining amount.

New contracts, new jobs, stronger client relationships

With the new machine in place, B&H PT has subsequently been able to fulfil their contract and supply the new tooling needed. The new equipment has allowed the company to create four new jobs and safeguard one additional job.

Ian Bethel, Managing Director of B&H PT Limited said: “We’ve worked with Close Brothers in the past so we know how experienced they are in working in our industry. For us their biggest strength is that they think outside the box, looking at situations and solutions that other providers might not consider to find the most suitable way to fund your goals.

“Their turnaround time was brilliant and with the new machine we’ve been able to not only fulfil our contracts, but we’ve also been able to take on new projects as well.”