Engineering firm gets £650k support to continue growth

A precision engineering firm based in Llanbradach has secured a £650,000 invoice finance facility to support its growth.

JR Gilbert Engineering has been supported by banking firm Santander.

An invoice finance is where a firm sells their invoices to a third party company for a percentage of their value.

It is hoped this will allow the engineering firm, which was established in 1983, to bid for larger projects and grow its workforce.

The company specialises in cutting, surface grinding and precision machining, and works with sectors such as rail, energy, steel, print and food and drink.

Managing director Colin Beavis, said: “This facility will allow JR Gilbert Engineering to continue to grow and take advantage of the many opportunities in the engineering sector.”

Paul Williams, of Santander UK, said: “The team at JR Gilbert Engineering has performed incredibly well and achieved significant organic growth, doubling its revenues over the last three years despite challenging economic conditions.

“Following their move to Santander earlier in the year, we are delighted to provide this facility as the business enters its next growth phase and we will work closely with them as they continue their journey.”