Glasgow-based Walker Precision Engineering has secured a £4 million investment boost from the Business Growth Fund (BGF).

The funding will allow the firm to expand its operations in the UK and mainland Europe, investing in new specialist machinery to further increase its high accuracy machining capacity.

In addition to further investment at its Glasgow headquarters, the company will relocate its Basildon operations to a new purpose-built facility and double the capacity of its manufacturing facility in Poland.

Founded in 1979, the family-owned business employs more than 250 staff and manufactures/assembles complex parts for the aerospace, defence and industrial sectors.

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As part of the group's expansion plans, Chris Melrose has joined Walker as non-executive chairman, following an introduction by BGF.

Mark Walker, Managing Director at Walker Precision Engineering, said: "Now is the right time to bring on board a minority investor. BGF's funding will help us pursue new opportunities in the market faster than we would otherwise have been able to do, without losing control of the business."

Paddy Graham, BGF investor, added: "Walker is one of the leaders in its field, having built a strong heritage and long-standing customer relationships. Having known the business for a number of years, we've seen the team successfully scale up its operations and customer base and break into the space market.

"There are significant opportunities for Walker to expand its capacity further in both existing and in new markets. We're delighted to be helping the team capitalise on this."

Image: (L - R) Gary Walker, Paddy Graham (BGF) and Mark Walker.

(LM)