In October 2013, a private equity deal with investor Lloyds Development Capital (LDC) was established. It took a minority stake in Express Engineering and unlocked external funding, which supported a phase of unprecedented growth.
Impressed by the success of the Express Engineering management team in growing the business, LDC took a minority share in the company to capitalise on highly positive dynamics in international markets.
Together with a successful application for grant funding from the government’s Let’s Grow fund, this added impetus to – and accelerated – an ambitious £20 million growth programme.
This has supported:
• The acquisition of Burdon Engineering in North Yorkshire, now our aerospace and industrials centre.
• Investment in cutting-edge technology, including machinery unique to the UK.
• Expansion into more manufacturing space at our Team Valley site.
• The expansion and move of our Brazilian operation – Petrotec.
• Over 50 new jobs.
• An expanded apprenticeship programme. We have trained 115 people, several of whom are now in senior management positions within the business.