1.5 million pound investment for UK mould toolmaker

Tooling Loan Fund 1.5 million pound investment for UK mould toolmaker

02.03.2023 Source: Frontier Development Capital

Financier Frontier Development Capital has invested 1.5 million pounds into toolmaker and plastic injection moulder, Petford Tools. The funding will support the UK company to create new roles, safeguard 20 existing roles and welcome a series of trainees into the business.

Petford Tools specialises in the design and manufacture of injection mould tools for the automotive, aerospace, rail and household sectors.
(Source: Petford Tools)

Dudley-headquartered toolmaker and plastic injection moulder, Petford Tools Limited has secured a £1.5 million investment from Frontier Development Capital (FDC).

Established in 1971, Petford Tools specialises in the design and manufacture of injection mould tools for the automotive, aerospace, rail, and household sectors. They predominantly support Original Equipment Manufacturers (OEMs) and tier-one automotive manufacturers across the globe, serving household names including Jaguar Land Rover, Bentley and JCB.

The firm has recently secured a major contract with a leading manufacturer, providing products and services to an iconic automotive manufacturer. The investment provided by FDC’s National Tooling Loan Fund will be used to help Petford Tools deliver 41 injection mould tools.

FDCs National Tooling Loan Fund is designed to support manufacturing businesses working in England, with available finance of between 50,000 and two million pounds, to help develop and manufacture tooling for their new and confirmed projects.

This investment from FDC will see Petford Tools create eleven new jobs, safeguard 20 existing roles, and welcome a series of apprentices into the business.

Petford Tools has been provided with investment from FDC previously, as they received a £3.5 million investment from the Advanced Manufacturing Supply Chain Initiative (AMSCI) in 2013.

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