A South Yorkshire based castings foundry has secured new £15m investment to help it become one of the largest Titanium foundries in the world.
Castings Technology, which celebrated its centenary in 2023, underwent a management buy-out in 2021 with MD Richard Cook and Chairman Kevin Parkin taking control.
The new investment facility of £15million from Zachary Asset Holdings, and will see Castings Technology, which produces specialised investment castings from a range of alloys for some of the most demanding advanced global manufacturing companies, invest in new premises, equipment, and new jobs.
Wake Smith Solicitors’ Rebecca Robinson, Director and Head of Corporate, provided legal advice to the Castings’ management team including dealing with due diligence information requests and negotiating the investment documentation, facilities agreement and security documentation. Rebecca was supported by assistant solicitor, Joe Creasor and Wake Smith’s director Paul Gibbon provided commercial property advice.
Kevan Shaw from Castle Square Corporate Finance advised the shareholders on the structured fundraising process, funding negotiations and project managed the transaction process, with Mark Cooper of BHP advising on tax matters.
Rebecca Robinson, director and head of corporate at Wake Smith Solicitors, said “We are proud to have supported Castings Technology through this significant funding development. The company has outgrown its facilities and this investment allows it to move forward, and further its potential to become one of the largest Titanium foundries in the world.”
As the UK’s only commercial Titanium investment castings company, demand for components has sky-rocketed over the past few years, across all the sectors it operates in.
Since the MBO, the company has achieved a 225+% increase in sales and significantly increased its skilled staff to more than 100, with a growing order book.
CTI currently shares facilities with the University of Sheffield’s AMRC, on the Advanced Manufacturing Park in Rotherham, but will now move to its own, larger, dedicated site.
An £18million investment package is enabling Castings Technology to accelerate its steep growth trajectory, enhancing one of the most advanced foundries in the world and the only commercial titanium facility in the UK.
Chairman, Kevin Parkin said “Due to our substantial growth, it is now necessary for the company to move to its own, larger premises and with new, world-class equipment.
“This deal secures Castings Technology’s long-term future with a move to its own facility.”
Robin Haller of Zachary Asset Holdings added: “We are extremely excited to partner with Castings Technology and help to support their growth in Sheffield. We believe their skills and technology are world-class and will benefit both the region and the country.”
Richard Cook, MD added “We have developed a strong growth strategy, and we will continue to collaborate with our clients and other institutions to help us improve operational efficiencies. The move delivers a sound platform from which Castings Technology can offer continued supply chain resilience to customers’ future and current programmes.”
The new facility is expected to be operational in the second half of 2026.
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