Formed originally in 1996, the management team at Hallmark Sheet Metal has in excess of 78 years of combined engineering experience. The company has grown by focusing on the manufacture of low volume, complex sheet metal components via processes such as laser cutting, robotic bending and welding. It is a highly automated business with 20 staff providing operating two shifts.
Its technical offering and reputation for service delivery has enabled the business to embed itself with a number of Original Equipment Manufacturers (OEMs) within a broad range of sectors including cable management, military, electronics and consumer goods.
The £1.5 million funding from Santander Business Banking contains a mixture of Growth Capital and a commercial mortgage and has allowed the management team at Hallmark Sheet Metal to conduct a buy-out as well as invest for growth. The Growth Capital part of the facility was handled by Simon Clewlow of Santander.
Santander’s Growth Capital loans are targeted at UK businesses with annual turnovers of up to £50 million, which have a demonstrated history of high year-on-year growth in turnover, profit or employment. As well as the financial support, high-growth businesses can also access other support from Santander which includes training (masterclasses), mentoring and seminars as well as access to overseas trade missions and part-funded interns through our partner universities.
The £500k equity investment from UKSE contains a mixture of shares and loans, and has assisted with the acquisition of Hallmark Sheet Metal, alongside investment for growth.
UK Steel Enterprise, a subsidiary of Tata Steel, provides equity and loan finance up to £1m to growing companies on terms that are individually negotiated for each investment, with economic regeneration the primary objective.
John Kennedy, Operations Director, Hallmark Sheet Metal Ltd, said: “There are significant opportunities across a number of sectors and we will look to capitalise on these going forward. The funding and support from Santander has been invaluable throughout the MBO process and we look forward to working with them further.”
Stuart Kelly, Relationship Director at Santander Business Banking, said: “The business has excellent growth forecasts, and is strategically targeting additional businesses to support the excellent client relationships they have already developed. Hallmark is meticulous in its production process, much of which is automated, ensuring very high-quality manufacturing. Overall the business has a great track record of consistent growth, and we are delighted to be supporting them.”
Allan Wood, Regional Representative at UKSE, said: “Hallmark Sheet Metal has been at the cutting edge of its sector since it was established in 1996. With a fantastic reputation for quality, service and exciting expansion plans, we are confident that the excellent new management team will be able to continue the growth trend seen over the last few years.”
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