A family-run automation solutions business has expanded its headquarters and acquired a business in Ireland with support from HSBC UK.
PCE Automation, a designer and manufacturer of bespoke automation solutions for the medical, ocular, and pharmaceutical sector, has used a £1.6million funding package from HSBC UK to support the purchase and renovation of an additional premises in Beccles. The funding has supported fitting-out the site with new equipment and has enabled the business to take on 13 new hires since the start of the year.
The new site, named the Bryan Cook Engineering Centre, is next door to its original units, increasing its overall production footprint by more than 50 per cent. The additional space allows the business to double the number of projects it can work on.
As a result of the increase in space, the business anticipates a rise in turnover of up to 17.7 per cent over the next 12 months and plans to further expand its headquarters in the coming years.
PCE Automation has also used the funding package to acquire Adapt Engineering in Dublin, which specialises in medical device dip coating systems. The deal allows PCE to expand its medical equipment offering and its customer base into the Republic of Ireland.
In addition, HSBC UK has provided a £750,000 overdraft for the business to fund working capital to purchase raw materials and machinery up front, enabling the business to take on larger projects where payment is completed when the project is delivered.
James Cook, CEO at PCE Automation, said: “We have committed to an ambitious growth strategy which has seen our business expand, both locally in Beccles and into Ireland. HSBC UK’s support has allowed us to complete our new premises to the highest standard, and means we’re now planning to expand even further into the site behind our current factory.”
Nicholas Young, Head of Business Banking East Anglia and South Midlands at HSBC UK, added: “Factory automation solutions are vital to the manufacturing industry, particularly as the country faces a global skills shortage. We are delighted to have launched this new relationship with PCE Automation, and look forward to supporting the business as it expands its presence in the UK and abroad.”
PCE Automation is a fourth-generation family-run business, first launched in the 1960s as a boat building company. In 2023, the company won the King’s Award for Enterprise for recognition of its excellence in innovation.
