Wild’s £3.6m investment package

The Sheffield-based company plans to use the investment to propel turnover from £10m to £15m by 2017.

It has already added six new members of staff, bringing employee numbers to 59. It plans to create a further nine jobs over the next three years.

Thos C Wild is investing across three areas of its business.

It is introducing a new 2,500-tonne press, buying a ring sizer machine which will allow it to produce precision-forged rings in larger diameters, and expanding its existing heat treatment facilities by extending its premises and installing larger capacity furnaces.

The company said the investment will allow it to produce a wider range of products at a greater capacity, resulting in cost savings and efficiency improvements.

It will also safeguard existing critical plant and means that all of its machinery will have a duplicate, protecting the business if a machine breaks down.

Thos C Wild’s history dates back to 1929 when it made munitions and underwent a management buyout in 2005.

Today its products are primarily used in the aerospace, oil and gas and power generation sectors.

The company is an approved forging supplier to Rolls-Royce

Finance director Gareth Lewis said: “This is a major investment for our company and one which we feel will bring many benefits to the business over the coming years.

“We will be able to offer a wider range of products to our customers and will be able to better meet their specific needs.”

Thos C Wild received funding from HSBC and a Regional Growth Fund grant from the Sheffield City Region Local Enterprise Partnership to support the investment.

HSBC’s Sheffield Commercial Centre provided a £2.7m funding package, whilst the Sheffield City Region LEP has committed a £900,000 Regional Growth Fund grant.

The move forms part of a wider £8m refinance of the Tinsley Park Road-based company with HSBC, and marks the start of a new business banking relationship between the two parties.

Senior international commercial manager Lee Bloodworth led the deal on behalf of the bank.

Mr Lewis said: “I’d like to thank HSBC and Creative Sheffield for their support of this investment, which is benefiting the local jobs market and economy.

“This marks the start of a new banking relationship with HSBC and I look forward to working with the bank as we continue on our growth path.”

HSBC Sheffield area commercial director Mick Knowles added: “Thos C Wild produces products that are integral components of equipment that is used across the globe in a range of important sectors.

“The company is continuing to expand and innovate to meet the needs of its diverse customer base and I am pleased to welcome this long-established business to HSBC.”

Sheffield City Region LEP board member Chris Scholey is part of the RGF Steering Group which oversees the LEP’s fund.

He said: “The LEP’s £32m RGF programme is supporting companies across the Sheffield City Region with ambitious plans to invest and grow.

“We are delighted to be able to work alongside HSBC to support Thos C Wild with this significant investment.

“This will help support Thos C Wild to continue to grow and take on more skilled employees.”

Coun Leigh Bramall, Cabinet Member for Business, Skills and Development at Sheffield City Council, said: “Thos C Wild’s £3.6m investment is great news for Sheffield and its economy.

“We are delighted that support through Creative Sheffield, the economic arm of Sheffield City Council, and the Local Enterprise Partnership has helped the team secure investment in a deal backed by HSBC.

“This deal shows confidence in the city as a place to base and expand a business and the deal will support job creation in the city.”

It comes after Magnomatics, a Sheffield University spin-out company, recently announced it would create more than 40 jobs after securing £1m in Regional Growth Fund cash from the Sheffield LEP.

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