Marine Specialised Technology (MST Group) designer and manufacturer of high speed and RIBs has secured a €6 million funding package to help it expand.
MST Group was founded in 2002 and headquartered in Bromborough,UK, and says the expansion will help it to meet record demand.
The funding package, from NatWest bank, will allow the business to manage working capital requirements as it looks to fulfil a record order book and increased demand for its products and training services which primarily support organisations such as the coast guard, special forces, law enforcement, paramilitary, and industrial services.
Vessel manufacturing
Along with vessel manufacturing, MST Group also offers wrap-around services such as training on vessel operation, technical support, craft maintenance and repair, as well as spare parts and vessel upgrades as technology advances.
“We are extremely pleased to be working with NatWest, who has created this major funding package for us in an efficient, thorough, and flexible manner,” said Ben Kerfoot, Group MD.
“Working in a specialist industry as we do, NatWest really took the time to understand our business, and we look forward to having this enhanced financial capability to scale our operations and meet rapidly accelerating demand. This is a milestone moment for us.”
MST Group currently employs approximately 135 staff.
