VTL secures £4m from BGF to accelerate automotive manufacturing growth.
BGF has acquired a minority stake and a board seat in the precision component manufacturer.
VTL manufactures precision engineered transmission and turbo components for global automotive markets from facilities in the UK, United States, and India.
VTL has secured £4m in growth capital from BGF to support its ongoing expansion within the automotive manufacturing sector. The funding will assist the company in developing new customer relationships and broadening its product range for existing clients, alongside providing financial flexibility for future acquisitions. Alongside the financial investment, BGF has introduced Michael Baunton as non-executive chairman to join the company board.
Formed in 2001, VTL has grown from a single-site European operation into a global manufacturer with over 400 staff and revenues exceeding £50m. The firm operates four manufacturing facilities and a research centre in Huddersfield, alongside international sites in the United States, India, and Japan, supplying major automotive brands including Cummins, Toyota, Renault, and Nissan.
BGF has taken a minority stake and a board seat as part of the transaction, marking its tenth manufacturing investment and first entry into the automotive sector. HSBC also continues to support the business as part of its ongoing development.
From the founder
"We see a number of exciting ways to grow the business organically and acquisitively both here in the UK and overseas. Our partnership with BGF and continued support from HSBC will enable us take advantage of the significant growth opportunities in the automotive component manufacturing and development markets."
Bruno Jouan
Chief Executive Officer at VTL
Investor perspective
"BGF has invested in a number of exciting manufacturing businesses to date and it is fantastic to be able to welcome VTL into this group. Employing over 300 skilled staff in the UK alone, VTL is a prime example of a Yorkshire manufacturing firm with its heart in the UK and operations across the globe."
Richard Taylor
Investor, BGF
Use of funds
- 01Expand into international markets
- 02Fund acquisitions
