New Funding To Fuel Engineering Firm’s International Growth Plans

Sheffield-based engineering company Samuel Hodge has secured a multi-million pound refinancing deal through its new banking partner, Barclays.

Founded in 1897 with its origins in ship repairing and machined tool rebuilding, Samuel Hodge Group is a privately owned British group of engineering companies, with a long history of supplying quality products world-wide.

Employing 180 people, the group has an annual turnover of £23m and, in addition to its head office in Sheffield, it has sites across the UK in West Thurrock, Harlow, Wrexham and Hull.

The funding and facilities from Barclays will enable the group to deliver further growth not only in the UK but also in the export market worldwide and enable them to exploit their innovation and design expertise through the manufacturing processes, further enhancing their reputation for high quality product.

Neal Crisford, Managing Director at Samuel Hodge Group, said: “Following a recent acquisition and on-going organic growth it was clear that the Samuel Hodge Group needed a banking partner that shared its future vision and needs. After exploring the numerous options we are delighted to have selected Barclays. Their open and direct approach was a ‘breath of fresh air’ and feels like a return to traditional banking with a locally focussed team to meet our needs at all levels of the business.”

Matthew Chenery, Relationship Director at Barclays said: “We are delighted to support this well-known Sheffield centred engineering group by providing a complete banking solution including funding facilities to support their future growth ambitions and look forward to working closely with the management team to take advantage of future opportunities.”

Kevin Cunningham, Corporate Partner at Irwin Mitchell, along with Associate Solicitor Emma Garth and Solicitor Sally Cowley, advised Samuel Hodge Group on the banking deal and associated Group restructure.

Expert Opinion

“This is a significant milestone in the long history of Samuel Hodge. The business is a superb example of Yorkshire’s engineering excellence and this deal will provide an important platform for expansion not just in the UK, but also overseas.” Kevin Cunningham - Consultant

Last year Samuel Hodge Group acquired Mac’Ants Abrasives. Through its subsidiary Hodge Clemco, Samuel Hodge is the market leader in the supply and manufacture of abrasive blast cleaning and surface treatment equipment.  Dinnington based Mac’Ants is a supplier of abrasives and blast materials and is one of the world’s largest specialist plastic media manufacturers.