Sheffield firm Tinsley Bridge safeguards against Brexit

Business

A manufacturer of suspension parts for trucks is continuing its expansion with the help of a GBP300,000 loan from NPIF – Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.

Wednesday, 4th March 2020, 8:56 am Updated Wednesday, 4th March 2020, 8:58 am Pete Sorsby, Mercia, Karl Hodson, BTG Global Advisory, Mark Webber, Tinsley Bridge, Barry Cunliffe, Tinsley Bridge, Mark Wilcoxon, British Business Bank.

Copyright: other The loan will provide Sheffield-based Tinsley Bridge with a contingency fund to safeguard the business against any shocks arising from the Brexit process, whilst allowing it to pursue its longer-term growth strategy. Tinsley Bridge employs around 200 people in three separate divisions and its origins date back almost 200 years.

The company invented the parabolic tapered leaf spring used in over 80 per cent of truck suspensions worldwide and it continues to supply suspension stabiliser bars for all Volvo, Renault and Iveco trucks.

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The Sheffield-based firm also has a blades division, Tyzack Machine Knives, that manufactures products for the steel and scrap industry and a fabrication arm that makes structures for energy, transport and infrastructure projects, including the powered hinges on the roof of the Wimbledon Number 1 Court and the stainless steel dampers used to quieten the noise of trains on the Crossrail project. Mark Webber, inset, who has been managing director of Tinsley Bridge since 2002, said: “We are following a growth plan to increase turnover by 25 per cent over the next few years and already have investment in place to support that. “However, amidst the recent uncertainty, it became clear that we needed contingency funds to protect the business from unexpected shocks, for example to cover the need for increased working capital for stock in the event of a no-deal Brexit or, in the opposite scenario, a period of reduced sales while customers released the stockpiles they had built up.

“Mercia quickly understood our issues and formulated a plan that would give us appropriate funding to secure the business through a potentially turbulent period while allowing us to press on with our longer-term growth plans.”

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