Hayfield Engineering Ltd
SME Term Loan
The SME term loan allowed the existing General Manager Steve Phillips and experienced external Director Andy Proffitt to fund the buyout of the specialist engineering firm from the previous owner.
Hayfield Engineering Ltd has been in business since 1983 and is situated in the heart of the UK’s manufacturing industry in the Midlands. The niche business feeds the larger global engineering firms around the region, supplying mainly to the aerospace and petrochemical industries.
£275k
Amount Lent
16 Months
Loan Term
47%
LTV
The new owners, who were introduced to Assetz Capital through Ludgate Finance, plan to build on Hayfield Engineering’s heritage by expanding their current client base within the water and oil industries and use new Director Andy Proffitt’s connections within the automotive industry to expand the business.
“Assetz Capital and their investors have really helped us to secure the future of this business by helping us with the funding we needed quickly and simply to purchase Hayfield Engineering. We are proud to be continuing the high quality work that has been going on since 1983.”