A welding and cutting equipment supplier has big plans for future growth after securing investment from Newable Capital.
Established by twin brothers Steve and Nigel Nixon in 2006, Weldfast is an independent wholesaler of welding, cutting and safety equipment to clients across the UK.
The company also has two specialist manufacturing divisions – MWA, which is the sole remaining UK manufacturer of welding electrodes, and Cros-Arc which manufactures a range of step-controlled MIG welding machines.
Over the years, the company has grown through the acquisition of the assets of a number of established competitors and securing numerous sole UK distribution agreements with overseas manufacturers.
Now, with the backing of Newable Capital, the company is on track for further growth.
Director Steve Nixon said: “We have seen substantial growth in our business over the last few years, but also know there is much more that we want to achieve as we bring new products to market, improve the efficiency for our customers and look at growth in overseas markets.
“We are very excited to be able to work with Newable to help us on the next phase of growth, we believe their investment will be good for all our customers and staff.”
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At the beginning of 2020, Weldfast relocated to a new 60,000 sq ft facility in Chesterton, Staffordshire, to meet the increasing demand from its UK-wide client base.
The new facility allows for increased automation and boasts a new state-of-the-art gas testing facility – which is believed to be one of the largest in Europe – to offer a full range of regulated gas products to its customers.
Peter Barrand, managing director at Newable Capital – which provides investment to help profitable, well-established UK SMEs –said: “We have been hugely impressed by the business that Steve and Nigel have built and see a significant opportunity to leverage the resources of Newable to help them deliver the next phase of growth.
“Our aim is to support established family businesses that have a leading position in their specific markets with long term investment. We look forward to working with the whole team at Weldfast in a very exciting time for the business.”