NatWest is supporting Coventry-based military armour and vehicle support specialists NP Aerospace with a multi-million pound funding package to grow its global business.
The funding facility, which includes a Trade Finance Facility backed by UK Export Finance and capital investment facilities from Lombard, will enable NP Aerospace to further expand its exporting capabilities. NatWest and Lombard have been supporting NP Aerospace with facilities and financial products since 2021. New jobs are expected to be created as a result of this funding package.
The business has operated in Coventry for approaching 100 years and employs 380 people across its global facilities, 300 of which are in the UK and is ambitious about its future growth. NP Aerospace recently expanded operations through an acquisition of certain assets of Jankel Armouring Limited to enhance the business’ portfolio to include tactical vehicles, civilian armoured vehicles, armour technologies, seating systems, and through-life support services.
NatWest is proud to support customers operating in the defence sector - from those involved in the supply to chain to defence firms. Robert Begbie, CEO of NatWest Commercial & Institutional, visited NP Aerospace to learn more about the business, its expansion and its impact on the local economy.
Will Davis, Chief Financial Officer at NP Aerospace, said: “As we continue to grow the business to meet the needs of our clients, it has been crucial that we have had a finance partner like NatWest who understands our unique needs as a business. The team at NatWest has been extremely proactive and responsive and are also incredibly knowledgeable about the defence industry and how it operates. We welcome the timely and efficient support.”
Will Jones, Relationship Director at NatWest, said: “NP Aerospace is building a sustainable business which will continue to support the defence industry for many generations to come. As the UK’s biggest bank for business, we know that businesses like NP Aerospace are central to further economic growth and we wish the management team at NP Aerospace every success in achieving long-term growth goals.”
NP Aerospace specialises in armour manufacturing and vehicle maintenance and upgrades on behalf of the UK’s Ministry of Defence (MoD) and other defence forces. The business has extensive experience of leading complex military vehicle integrations and now supports fleets of over 18,000 vehicles used in operations all over the world. The business is a key defence employer in the West Midlands.
For further information please contact
Jonathan Rennie, NatWest jonathan.rennie@natwest.com, 07769932102
Image of NatWest team including Robert Begbie at NP Aerospace
