“We greatly value the long-standing partnership we have with the team at FW Capital. This funding will allow us to continue to work on our growing pipeline of projects as we pivot towards opportunities in new markets. We are very grateful to FW Capital for the support.”
Wilton Engineering Services Ltd specialises in building large, often complex, structures and is successfully diversifying from oil and gas into the renewables market. The company has benefited from £3.4 million in bond finance through the Tees Valley Catalyst Fund since 2014, helping them win contracts valued at over £55 million.
In 2014 a £33 million contract was awarded to Wilton by Conoco Phillips. They subsequently won an £17 million contract in 2017 to deliver 21 transition pieces for Ørsted, which will be installed as part of the Hornsea One Offshore Wind Farm.
A further loan of £250,000 from the TVCF in early 2020 has allowed the company to take on additional employees to support the completion of a £2.5m contract.
Wilton also received a £750,000 investment from NPIF - FW Capital Debt Finance, which is part of the Northern Powerhouse Investment Fund, to provide the business with working capital during the Covid-19 pandemic. The CBILS funding will allow Wilton to help to safeguard the existing 117 roles.