Galvanising growth for 100-year-old black country business
Manufacturer, B.E. Wedge Holdings Ltd, which is headquartered in Willenhall, has secured £11.5 million of funding from Lloyds Bank Corporate Markets to grow its stake in German firm Siegener Verzinkerei Holding GmbH from 24 per cent to 49 per cent.
Founded in Willenhall over 100 years ago by John Wedge, B.E. Wedge is now the UK’s largest hot dip galvanizing group. It has a national network of 14 UK-based plants as well as interests in leading galvanizing businesses throughout Europe and the United States.
The family-controlled firm has consistently followed a successful policy of expansion, both in the UK and abroad, while maintaining a steady level of investment in its existing galvanizing plants. B.E. Wedge currently enjoys a 30 per cent share of the UK galvanizing market and this latest move to increase its international investment will boost the company’s profits earned in the European market.
Chris Pennick, a Relationship Director at Lloyds Bank Corporate Markets in the West Midlands, comments: “B.E. Wedge is a prime example of a long-standing Black Country business which has grown and developed with the times. It is now an exceptionally successful international player and we were pleased to support this latest step in its growth strategy with the funding the business required.”
Jon Parsons, Financial Director, B.E. Wedge, says: “Although our roots remain very much in the West Midlands we are committed to driving growth through international as well as UK investment. This funding from Lloyds Bank Corporate Markets has enabled us to increase our stake in Siegener Verzinkerei Holding – an already successful business and one of the largest galvanizing groups in Germany, which also has affiliated companies in the Czech Republic, Slovakia and Turkey.”
