PrevTech lands £200,000 to expand from F1 into aerospace and defence
What's the deal? PrevTechDealroom has a profile for this one. Try Dealroom →, a Wiltshire-based precision engineering firm, has secured a £200,000 investment from the British Business Bank's South West Investment Fund, managed by The FSE GroupDealroom has a profile for this one. Try Dealroom →. The Marlborough company provides precision machining services, manufacturing complex components to customer specifications.
What's the endgame? The funding will help PrevTech expand its facilities, recruit skilled staff, and invest in quality and cyber security accreditations. Those steps aim to boost production capacity and open doors in aerospace and defence.
Why now? PrevTech currently serves motorsport customers, including Formula 1 supply chains, and is building opportunities across other advanced engineering industries. "Demand has continued to grow, and this investment gives us the confidence and resources to take the next step," said Martyn Roberts, managing director and co-founder.
The round is expected to create up to five jobs over the next three years, including CNC machining and quality-focused roles.
Amanda Sheppard, investment manager at The FSE Group, said PrevTech is "a great example of a South West manufacturing business with strong technical capability and clear growth potential."
The signal: Backers are positioning precision engineering as a lever for UK advanced manufacturing. As Lizzy Upton, senior investment manager at the British Business Bank, put it, firms like PrevTech "have an important role in driving growth in advanced manufacturing and other UK Industrial Strategy priority sectors."
Read more: insidermedia.com
Image credit: jurvetson
