Havant, January 2008 – Heating and cooling equipment manufacturing firm, Dunham-Bush Limited, has embarked on an ambitious growth strategy, with financial backing of £2.5 million from NatWest.
Dunham-Bush was formed in the early 1950s following the amalgamation of three well-established companies, each bringing relevant specialist industry knowledge to the business mix. Today Dunham-Bush Holding BHD, the parent company, is a global organisation and an industry leader as a manufacturer of heating, cooling and ventilating equipment for commercial, industrial and institutional applications.
In the UK the company is led by Mike Holding, Managing Director, who has been with the company for 30 years, joining Dunham-Bush as an Engineer and following two assignments at Dunham-Bush in the USA he returned to the UK operation as Managing Director. Dunham-Bush envisioned ambitious growth plans and, with the company having been bought in May 2007 by Agromash BV, one of Russia's largest engineering companies involved in machinery and engine production, these plans are set to come to fruition. Whilst the existing management team remains in place, the next five years will see the company investing in product development and the introduction of new products, enhancing existing lines and reaching a wider consumer market.
Mike approached Claire Williams, Relationship Manager at NatWest Commercial Banking in Portsmouth, who worked closely with the team to understand the expansion plans. Claire put a bespoke funding solution in place, freeing up funds, enabling the growth project to commence. In addition, Lombard, the asset finance provider, part of the RBS Group, worked with Claire and Mike to put additional finance in place. Jason Pitt, Relationship Manager at Lombard financed a specialist piece of equipment, an Amada EM 2510 TN CNC Turret punch press, which has effectively doubled the sheet metal processing capacity of the company. This additional machine ensures accelerated cycle times for all products and in particular improves the company's ability to respond to custom made products for specific projects. The company has also switched its banking to NatWest.
Mike Holding, Managing Director, Dunham-Bush in Portsmouth commented:
"I am delighted to be able to take our business to the next level, we have the business, product and market know-how to move
forward and the funding is now in place to support this. I look forward to continuing to work with Claire and Jason as the business evolves."
Claire Williams, Relationship Manager at NatWest Commercial Banking in Portsmouth added:
"It is an exciting time for Dunham-Bush; it is a historic and well-known company, with a wealth of experience in this
industry sector. We were able to put funding in place in order to enable the company's exciting growth plans to be realised.
I wish the team every success as it expands and continues in its upward growth."
- Ends -
For more information, please contact:
Emma Lyons
Media Manager, The Royal Bank of Scotland
Tel: + 44 (0) 7771 938 563
Email: emma.lyons@rbs.co.uk
Notes to Editor:
The Royal Bank of Scotland Group ("RBS Group") is one of the world's leading financial services companies providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. RBS Group operates in Europe, the US and Asia Pacific serving more than 36 million personal customers world-wide and employing more than 140,000 people. In addition to the provision of a full range of banking services under The Royal Bank of Scotland and NatWest brands, RBS Group also includes Citizens Financial Group, Ulster Bank, Coutts Group, Direct Line and Churchill
