Automotive manufacturer backed by new £4m investment

The backing comes from BGF, which made an initial investment in 2016 that led to expanding the manufacturer's customer base, buying new technologies and establishing a strong European footprint through acquisitions and new hires.

The new investment comes as Sertec looks ahead to European growth.

This year, Sertec has secured significant new contract wins in the electric vehicle and lightweight technology markets using its engineering and technology expertise. The company has recently completed a world-class battery component assembly line in Coleshill.

Grant Adams, CEO at Sertec said: “We’re ambitious about continuing to grow the company and BGF’s additional investment allows us to build on the strong foundations we’ve put in place. We start 2021 with a strong balance sheet and exciting growth prospects in Europe underpinned by our recent hires. Juergen Schreiner joins as European sales director and Antal Mihalicz has been appointed managing director in Sertec’s Hungarian operation.

“Our technology positions us at the forefront of the sector to take advantage of the huge potential presented by the growing EV market in the UK and Europe.”

This investment news follows the appointment of Nick Sanders as non-executive chair in May 2020.

BGF investor, Tom Horton said: “BGF’s renewed commitment to Sertec is testament to the strength of the business’ leadership and ongoing investment in new technologies. In a very challenging year, the company has continued to secure significant, long-term contracts as it expands its customer base. We look forward to working with the team in its next chapter of growth.”

Sertec Group operates across eight sites, with six manufacturing sites in the Midlands in the UK, one manufacturing site in Aszar, Hungary and one in Hückeswagen, Germany, plus a tooling technical centre based in Dongguan, China.

Sertec Group www.sertec.co.uk