Investment milestone at label maker

Investment milestone at label maker

Investment milestone at label maker

First published in Business news
Last updated

A £100,000 investment in a growing engineering business has seen Finance Yorkshire reach a new milestone.

The organisation has now injected £75 million in Yorkshire-based SMEs such as Close Engineering, which secured the latest investment.

Established in 2003 by Neil Close, Close Engineering works predominantly with the National Grid, manufacturing labels, signs and control panels for sub-station sites.

The business is using the cash injection to refurbish new premises in Whitley Bridge near Eggborough, and invest in new fabrication machinery.

A six-figure funding package from Lloyds Bank Commercial Banking enabled Close Engineering to buy the premises, and the additional investment from Finance Yorkshire has covered the costs of making the building fit for purpose.

Mr Close said: "The loan from Finance Yorkshire is invaluable. It is allowing us to invest in larger premises, and a considerable amount of new machinery, which will allow us to meet our customers’ needs to an even higher standard."

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