A GLASGOW-based engineering firm has secured a £4 million investment to expand its operations in the UK and mainland Europe.
Walker Precision Engineering manufactures and assembles complex parts for the aerospace, defence and industrial sectors.
The family-owned firm received the funds from Business Growth Fund (BGF), enabling Walker to invest in specialist machinery.
The business said it has experienced an increase in demand, particularly in the burgeoning space market. Walker also works with International Space Agency and academic institutions, and has been involved in the Galileo Satellite System.
In addition to further investment at its Glasgow headquarters, Walker will move its Basildon operations to a new purpose-built facility and double the capacity of its manufacturing facility in Poland.
Mark Walker, managing director at the firm, said: “Walker has grown steadily over the years through our deep commitment to investing in technical expertise and innovation.
“BGF’s funding will help us pursue new opportunities in the market faster than we would otherwise have been able to do, without losing control of the business.”
The investment brings the total BGF funding in Scottish businesses to more than £200m.
BGF provides patient capital to businesses in exchange for a minority, non-controlling stake.
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