Engineering firm Holdfast Manufacturing have a pressing engagement with the future to double turnover in the next couple of years.
The metal press workers based in Stourbridge have recently taken out a development loan with UK Steel Enterprise, the Corus group subsidiary which provides growth finance for small and medium sized companies, to help them on their way.
Holdfast has two strings to its bow, making metal components and tooling for customers who are major players in the oil, telecoms and motor cycle industries, and making around five million-a year galvanised electrical switch boxes - which sit behind every switch in homes and offices countrywide - for the electrical wholesale market and major electrical switch manufacturers.
Managing director Greg Hartshorn said: "Holdfast is at that crucial point where we have to expand to cope with demand. We took out the UK Steel Enterprise loan to invest in stock to be able to improve our turnaround times and service to our established customers and new ones coming on stream."
Holdfast has been in business since 1987 when it was started by Mr Hartshorn's father, an experienced engineer. With a background in sales and marketing, Greg now looks after the commercial side whilst younger brother Stephen is engineering director.
Turnover this year will hit £1.85 million bolstered by £500,000 added by the acquisition of an electric box business last year. Employment has increased too with the workforce up 50 per cent on last year's 30.
UK Steel Enterprise regional manager Keith Williams said: "Holdfast is just the sort of forward-thinking business we can help in the West Midlands. We can invest up to £400,000 to help a company fund its growth and also finance management buy-outs and buy-ins with equity and loan finance.
"We operate in steel industry areas, investing money back into local Black Country businesses in a variety of sectors and we are constantly looking for companies like Holdfast where a little investment can set them firmly on the expansion trail."
