Birmingham-based manufacturer, Hills Numberplates has received almost £10m of investment from Finance Birmingham; Birmingham City Council; NatWest Corporate and Commercial Finance, and RBS Invoice Finance.
According to Hills Numberplates, the investment will be used to support continued growth following its recent acquisition of Faab Fabricauto, France’s leading number plate manufacturer.
The acquisition is reportedly enabling the company to develop further geographical markets and maximise production efficiency.
Hills Group is the world’s third largest number plate manufacturer and has more than 80 years’ experience providing products to national and international clients including Honda; Fiat; Ford, and Toyota.
The group currently employs more than 200 staff and produces over 19 million plates every year.
Managing director, Richard Taffinder commented: “We are a business built on excellent customer service and a strong vision, and this funding will help us to accelerate our growth.
“By completing our acquisition of Faab Fabricauto and having the funds to invest in our products, we can now expand our offering for our customers and create a greater international footprint.”
Finance Birmingham currently has £600m of funds under management and invested in Hills via the £56m Mezzanine Fund – which is open to SMEs across the West Midlands and is supported by the Regional Growth Fund and the Greater Birmingham and Solihull Local Enterprise Partnership – as well as Birmingham City Council’s Loan Fund.
Investment director at Finance Birmingham, Stephen Murray noted: “Hills Numberplates is firmly positioned as a major world number plate manufacturer.
“We have been impressed with the management team and their growth strategy and the acquisition, alongside investment, in its staff base forms an integral part of that future.“
Business Development Manager at RBS Invoice Finance, Ken Feast said: “This investment reflects the mission of RBS Invoice Finance and NatWest for providing large scale solutions for thriving businesses looking to grow and take that next step up.
“Manufacturing is the key to unlocking our long-term economic success in the UK and we have worked hard to build an expertise in this sector. Hills is a true example of a hungry business that is making a significant contribution to the automotive industry. As demand increases for its products it will now be able to expand, evolve and continue to deliver.”