ThinCats provides its largest ever loan

ThinCats has provided £10m of funding – its biggest loan to date – to Dynamic Industrial to support the acquisition of Hydram Engineering Ltd.

It is the US-based aerospace and defence manufacturing group’s first UK acquisition and the funding from the SME lender will also provide additional finance to help Dynamic grow.

Hydram – based in Ferryhill, County Durham – is a sheet metalworking company which offers a full range of subcontract engineering services across the UK and Europe.

It will become Dynamic’s latest addition to its existing portfolio of US companies that specialise in supplying precision metal components for aerospace, defence, automotive and rail sectors.

ThinCats worked closely with Dynamic to become familiar with the business and its financial models to allow it to design a flexible finance plan.

Dave Sherrington, London and South East business originator at ThinCats, said its priority was helping businesses to grow.

“[The] announcement is a great example of allowing a company to realise its potential.

“There are striking synergies between Dynamic and Hydram and we are excited about the new opportunities that this acquisition will bring.”

Don Nystrom, president at the Dynamic Group, added: “The acquisition of Hydram provides a strong platform for expansion into the UK and wider European market.

“ThinCats worked hard to understand both businesses and showed total commitment to conclude this transaction at pace.”

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