Bibby Financial Services (BFS) has provided a £1m funding facility to Power Jacks, an Aberdeen-based electrical design and manufacturing company.
Power Jacks designs and manufactures electrical tools for a range of operational processes. Its products include screw jacks, gearboxes and jacking systems, which are essential components of automated machinery and support the process of transporting, lifting and positioning of large-scale goods.
Power Jacks has a presence across a set of industries with clients including British Airways, BT, Nestlé and Volkswagen.
The funding will enable the business to operate a more efficient cashflow system.
The funding will also free up additional working capital, making it easier for Power Jacks to develop opportunities in the aerospace, transport and metal production industries across Europe and Asia.