UK Export Finance support strengthens working capital for Wiltshire-based naval management and disposal business
- UKEF guaranteed a General Export Facility worth £2.4 million to Leafield Logistics to free up cashflow and support the company’s growth
- The Chippenham based business, which employs 15 people, serves navies across NATO and allied nations by enhancing their maritime defence systems
- Leafield has secured several major contracts in the last year and plans to pursue more export contracts as a result of UKEF’s support
A South-West based naval management and disposal business has secured £2.4 million in government-backed support to expand its operations in international markets.
Established 30 years ago, the business has existing relationships with 16 international navies across the globe, and with UKEF’s backing, plans to extend its reach and depth in the coming years. Exports currently make up over 90% of the business’s operations.
Leafield Logistics was initially established to manage the disposal of surplus naval material from the UK Ministry of Defence. Three decades later, the business works with the navies of NATO and allied nations around the world to provide the parts they need and ensure their equipment is safe and efficient. This includes supply chain management, ship component repairs, solutions development, and overall consultancy.
The financial backing will bolster the business’s working capital cycle to allow them to support more deals internationally and take on larger contracts which otherwise would stretch its working capital. UKEF’s support has already helped the business to win a contract to replace the gas turbines of two NATO navy ships.
Trade Minister Marcus Fysh said: “The UK has a long history of naval defence and is home to some of the best skills in the industry.
“This government-backed boost for Leafield as they look to expand international trading and grow their operations is brilliant news – supporting local jobs and bolstering the naval capabilities of our allies.”
Jon Webster, Managing Director at Leafield Logistics & Technical Services, said: “Our business is one that is international by nature. UKEF’s support has helped us to reinforce our cash flow so that we can continue bringing British naval expertise to the rest of the world, whether through spare part sourcing, manufacturing or our solutions development offering.”