A high-precision component manufacturer has secured a £4m investment from BGF to expand its operations in the UK and mainland Europe.
From premises in Glasgow, Basildon and Poland, Walker Precision Engineering manufactures and assembles complex parts for the aerospace, defence and industrial sectors.
The business is said to have experienced an increase in demand from existing and new customers and the new funding will allow the company to invest in specialist machinery.
Space is a burgeoning market for Walker and the company has been involved in the Galileo Satellite System, which is the European high accuracy positioning system.
In addition to further investment at its Glasgow HQ, 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 Walker Precision Engineering, said: “Walker has grown steadily over the years through our deep commitment to investing in technical expertise and innovation.
“Now is the right time to bring on board a minority investor. BGF’s funding will help us pursue new opportunities in the market faster than we would otherwise have been able to do.”
Paddy Graham, BGF investor, added: “Having known the business for a number of years, we’ve seen the team successfully scale up its operations and customer base and break into the space market.
“There are significant opportunities for Walker to expand its capacity further in both existing and in new markets. We’re delighted to be helping the team capitalise on this.”
The investment in Walker brings the total BGF funding in Scottish businesses to more than £200m.
As part of the group’s expansion plans, Chris Melrose has joined Walker as non-executive chairman, following an introduction by BGF. Melrose is a non-executive director of Ralph Martindale and of ADS, the aerospace, defence and security trade association.