Saturday, January 22, 2022

Rapid growth in the pipeline for Yorkshire manufacturer

A specialist manufacturer is on track to double turnover within five years with a six-figure cash injection helping to turbocharge organic growth.

Wath Group is a designer and manufacturer of jet wash hoses, control equipment and cabling, and trace heating solutions. Founded in 1980, the family business has evolved from supplying primarily to the mining industry, to supporting a broad range of sectors including automotive, renewable energy, consumer electronics and pharmaceuticals.

Through its specialist safety and security brand, SecurEx, it also provides products for use in hazardous and explosive environments. And, it recently partnered with Hogen Systems to develop a pioneering Atmospheric Water Generator (AWG) that produces clean drinking water from the atmosphere.

A key local employer, it currently employs 40 staff at its HQ in Rotherham. Over the past few years, turnover has grown steadily from £2.6million in 2017, to £5million in 2021. And now, with the support of a £308,700 hire purchase facility from Lloyds Bank, Wath Group is investing in two new HAAS Machining Centres – highly-specialist automated cutting tools – and is on track to double turnover to £10million within five years.

Matt Bedford, director at Wath Group, said: “Over the last 40 years, Wath Group has transformed from a small supplier to a major producer. We pride ourselves on our adaptability, working to tailor and expand our offering to meet market demand and support a growing range of sectors – and this investment is the latest step in our expansion strategy.

“With the Bank’s support, we can continue to grow organically by bringing in new, state-of-the-art equipment and machinery to boost production across all of our core product ranges, as well as find new opportunities to innovate and partner with other organisations on ground-breaking projects.”

Ben Cutts, relationship director at Lloyds Bank, said: “Wath Group’s track record speaks for itself – it is a team that has never shied away from new avenues to growth, helping them remain a key player in a market that is constantly evolving.

“As their partners for over two decades now, we are excited to remain by their side in this next phase of expansion.”

The transaction was led by Ben Cutts and Lee Mcallister, regional manager at Lloyds Bank.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.