Finance from Birmingham gives green light to Formula 1 deal
28 Junel 2005

An East Midlands aerospace company has added a leading Formula 1 component supplier to its expanding group.

With the help of a £320,000 cash injection from Birmingham-based Liquidity, CommaTECH Holdings, which has been a leading aerospace supplier for over 40 years, has purchased the business of NH Precision Engineering for an undisclosed sum.

Now to be re-named CommaTECH (Northampton), NH Precision Engineering has been a key component manufacturer for Formula 1 for over 20 years.  With over 20 customers and a team of 22 employees, the business is the second acquisition for the CommaTECH group this year.

 “We have provided sales finance support to CommaTECH Holdings for its past acquisitions and we are in tune with its business and planned expansion,” explained Paul Housley, head of operations at Liquidity.

“Our finance has taken the form of an invoice discounting facility and a loan against plant and machinery, a package which is flexible for the future of the business.”

John Taylor, chief executive of CommaTECH Holdings, said: “We are certain that the new investment in the business’ employees and technology will further improve its manufacturing capabilities and the finance package has the added elasticity to facilitate growth.

“The Northampton facility also brings an additional capacity to the group’s production capabilities and goes one stage further towards playing a larger part in the supply chain and providing total solutions to our customers.

“We are already looking out for other acquisitions that will complement our core business and boost our growth strategy further.”

Liquidity’s package illustrates the versatile nature of sales finance, according to Mr Housley, who said:

“We are prepared to finance businesses with a variety of outlooks and our long term involvement in a ‘buy and build’ strategy, as is the case with CommaTECH, is just one example of funding we can provide.”

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