Coventry-based machine tool supplier NCMT has secured a major new banking deal to support its management buyout and accelerate growth in the UK’s advanced manufacturing sector. The business has agreed a new primary banking relationship with NatWest, including an £8.3m revolving credit facility and a £4m bond facility, plus foreign exchange and operational support, taking total facilities to £13.5m.

The package is designed to give the management team the financial headroom to modernise the business, invest in innovation and support larger, more complex contracts in the UK and overseas. NCMT has already used part of the funding to complete a management buyout from its previous shareholders, putting control firmly in the hands of the existing leadership team and setting the company up for its next phase of growth.

More information www.natwestgroup.com