Blackrow Engineering

 

The Challenge

For over 39 years Blackrow engineering has been providing high quality engineering and fabrication services worldwide to a range of sectors including food, petrochemical and pharmaceutical. After a period of growth, their work load increased with two large projects and a major contract with a local oil refinery.

Blackrow required a funding partner to help produce the necessary cashflow to cover the startup costs associated with their new projects, such as staffing and raw materials.

The Solution

ABN AMRO Commercial Finance provided Blackrow engineering with an Enterprise Finance Guarantee (EFG), an innovative business finance scheme supported by the Government through the British Business Bank. Blackrow Engineering borrowed £200,000 over 5 years, providing them with the necessary cashflow required.

The team at Blackrow Engineering was impressed with ABN AMRO’s funding options stating:

"It gave us the additional finance we needed at the right time. We must have interviewed six or seven providers but ABN AMRO was the only one to offer the EFG as part of the facility. That meant we could secure the funding to meet our requirements."

The Result 

The funding that the EFG provides ensures that Blackrow Engineering have the required working capital needed to support the upsurge in their growth. Looking forward they will continue working on projects within the food industry, which is their current specialism, as well as projects within the waste-to-energy markets.

Blackrow Engineering currently has 18 apprentices on their books and feel that it is an extremely important part of what the company does, helping to keep core skills alive and within the region.

 

Background

Blackrow engineering manufactures and install equipment for the petro-chemical, waste-to-energy, power generation and food industry. Since being founded in 1979 they have built up a client base all across Europe as well as in North America and Australia. Based in Lincolnshire, they currently have around 190 members of staff, with a strong focus on teaching apprentices.

Enterprise Finance Guarantee (EFG)

Raise from £25k to £1.2m with the EFG - an innovative business finance scheme, supported by the Government through the British Business Bank.

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