Tooling Loan Fund1.5 million pound investment for UK mould toolmaker
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.
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.
Stand vom 23.03.2021
Consent to the use of data for promotional purposes
I hereby consent to Vogel Communications Group GmbH & Co. KG, Max-Planckstr. 7-9, 97082 Würzburg including any affiliated companies according to §§ 15 et seq. AktG (hereafter: Vogel Communications Group) using my e-mail address to send editorial newsletters. A list of all affiliated companies can be found here
Newsletter content may include all products and services of any companies mentioned above, including for example specialist journals and books, events and fairs as well as event-related products and services, print and digital media offers and services such as additional (editorial) newsletters, raffles, lead campaigns, market research both online and offline, specialist webportals and e-learning offers. In case my personal telephone number has also been collected, it may be used for offers of aforementioned products, for services of the companies mentioned above, and market research purposes.
In case I access protected data on Internet portals of Vogel Communications Group including any affiliated companies according to §§ 15 et seq. AktG, I need to provide further data in order to register for the access to such content. In return for this free access to editorial content, my data may be used in accordance with this consent for the purposes stated here.
Right of revocation
I understand that I can revoke my consent at will. My revocation does not change the lawfulness of data processing that was conducted based on my consent leading up to my revocation. One option to declare my revocation is to use the contact form found at https://support.vogel.de. In case I no longer wish to receive certain newsletters, I have subscribed to, I can also click on the unsubscribe link included at the end of a newsletter. Further information regarding my right of revocation and the implementation of it as well as the consequences of my revocation can be found in the data protection declaration, section editorial newsletter.