Finance Yorkshire backed construction company doubles turnover
Mon 02 Oct 2017
Construction company MTW Architectural has more than doubled its turnover after increasing production capacity at its purpose-built premises in Wakefield.
The business specialises in the design, manufacture and installation of aluminium framing and glazing for building exteriors.
Led by directors Richard Moore and Neville Taylor, MTW Architectural reported turnover of £13million this year – up from £5.6m three years ago.
The company’s growth follows a move to Calder Park, Wakefield two years ago where it built a manufacturing facility five times bigger than its former base at Trinity Business Park in the town.
The £2.2m scheme to purchase the site and construct the premises was supported by a £250,000 business loan from Finance Yorkshire.
Richard Moore said: “We needed premises which provided us with at least 70% manufacturing space and to get that we decided to build our own place.
“There was a shortfall in the funding to cover the cost of the project and Finance Yorkshire plugged the gap. We couldn’t have done the build without their support.”
Employing 26 people, MTW Architectural works on major projects nationwide including the new build or refurbishment of office blocks, hospitals and schools. It has recently completed its largest order to date which is worth £10m to the company and part of a £90m development in Reading.
John Ellis, portfolio manager at Finance Yorkshire, said: “From a standing start, Richard and Neville have successfully grown their business, creating valuable jobs and a reputation for delivering high quality work in the construction sector. We are pleased to support them as they look forward to a full order book between now and December 2018.”
Since its inception in 2010, Finance Yorkshire has invested in more than 500 companies, enabling those businesses to increase their turnover by a total of £474 million and attract a further £362 million from private sector sources.
Finance Yorkshire investment has helped those SMEs to create and safeguard more than 16,000 jobs in the region.
Finance Yorkshire is not seeking new investment opportunities at the present time.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.