Express Engineering Receives Investment from LDC

Express Engineering, a Gateshead, UK-based large precision engineering business, received an investment of undisclosed amount from LDC.

As part of the transaction, which was supported by a package of senior debt facilities by Lloyds Bank, LDC has taken a minority equity stake in the company, which will use the funds to accelerate its expansion strategy.

Led by founder and Chairman Chris Thompson and Managing Director Nigel Davison, Express supplies high quality precision machined components and products into the oil and gas market. The business also has a subsidiary called Petrotec in Sao Paulo, Brazil and recently acquired the trade and assets of the Stokesley-based engineering business Burdon Limited.
Customers include FMC Technologies, Aker Solutions, GE (Vetco), Cameron, Schlumberger, National Oilwell Varco and Weatherford.

For the financial year ending March 2013, the combined group recorded revenues of circa £30m.

FinSMEs

10/10/2013

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