Challenger borrows for expanding PCB production in Essex

Clydesdale Bank has lent a further £500,000 to Essex-based PCB maker Challenger Solutions as working capital, enabling it to purchase more electronic materials and meet rising demand, particularly from clients in aerospace and defence, according to Challenger.

“The electronics we manufacture are used around the world by an increasing number of companies which we wish to build deeper relationships with,” said Challenger MD Andy Mair. “This funding will allow us to do this, particularly as we pursue new contracts in the aerospace and defence sector. Challenger has undergone a rapid growth increase recent years, which would not have been possible without the support of Clydesdale Bank.”

“Our relationship with Challenger Solutions was established 11 years ago and since the beginning the company consistently impressed us with its intimate knowledge of the sectors it focuses on, as well as its dedication to maintaining superb manufacturing standards,” said Clydesdale commercial relationship manager Ian Apps.

As well as its aerospace and defence markets, the company operates in oil, gas, automotive and communications, and is expanding into areas including mining, healthcare and retail.

It has AS9100 certification, employs 100 staff and recently celebrated its 25th year of trading, having “doubled turnover since 2015 through investing in additional manufacturing facilities, as well as taking on 50 new staff in the same period”, it said.