High-tech manufacturer Challenger Solutions builds on momentum

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24/10/2019

Challenger Solutions Ltd, the specialist electronic components manufacturer, has received fresh funding from Clydesdale Bank to support its push for further expansion.

Building on a period of rapid growth for the business over the past four years, the Bank has provided the company with a further £500,000 in working capital, enabling it to purchase more electronic materials and meet the rising demand for its services, particularly from clients in the aerospace and defence industry.

Pioneering technology for a quarter of a century

Headquartered in Chelmsford, Essex, Challenger Solutions employs 100 staff and specialises in the assembly of printed circuit boards (PCBA) – vital components (pictured right) which it supplies to businesses in a diverse range of sectors including Oil and Gas, automotive and communications.

The business recently celebrated its 25th year of trading, and has successfully doubled turnover since 2015 by investing in additional manufacturing facilities, as well as taking on 50 new staff in the same period. The swift rise in the company’s turnover is a testament to the strength of the management team guiding the business.

Challenger Solutions has developed an especially strong reputation in delivering complex electronic components to the UK’s aerospace and defence firms, backed up by its AS9100 certification, the worldwide industry gold-standard for companies which supply parts for the growing sector.

What the deal means for the business

“Challenger has undergone a rapid growth increase in recent years, which would not have been possible without the support of Clydesdale Bank,” says Andy Mair, Managing Director at Challenger Solutions. “We appreciate their belief in our business and commitment to our ambitions.”

“The electronics we manufacture are used around the world, in areas including mining, healthcare, and even retail, by an increasing number of companies which we wish to build deeper relationships with. This funding will allow us to do this, particularly as we pursue new contracts in the aerospace and defence sector, while maintaining the competitive edge that makes us a reputable provider in the market.”

Andy Mair – the business’
Managing Director

Andy Mair – the business’ Managing Director

A word from our team

Ian Apps, Commercial Relationship Manager at Clydesdale Bank, said: “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.

“It’s been a pleasure to be by their side over time and now, at the cusp of a new period of growth. We wish Andy and his team the best of luck in their ambition to expand further and enhance their brand.”

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