'This is a significant investment in the next stage of our development': Northern Ireland aerospace specialist secures £1.6m funding boost for major manufacturing investment
Datum Tool Design has acquired Ireland’s largest machine of its type, strengthening its ability to deliver complex aerospace tooling for global industry giants including Airbus, Bombardier and BAE Systems
A Northern Ireland aerospace engineering specialist has secured a £1.6 million funding package from Paragon Bank to support its continued growth and investment in advanced manufacturing technology.
Founded in 1996 and headquartered in Lisburn, Datum Tool Design supplies precision tooling solutions to some of the world's leading aerospace manufacturers and their supply chains, including Airbus, Bombardier and BAE Systems. The company specialises in composite tooling, assembly fixtures, trimming and drill tooling, and build-to-print aerospace tooling.
The funding has enabled Datum to acquire a state-of-the-art PROMAC SHARAV HGVT 4.0 machining centre — a 22-metre, five-axis machine that significantly enhances its manufacturing capabilities.
The investment will allow the company to produce larger, more complex aerospace tooling in-house, increasing capacity, efficiency and competitiveness in the global aerospace market.
Director Michael Maguire said: "Datum has grown by building long-term relationships with customers in the aerospace sector and by focusing on the quality and precision that major aircraft programmes demand.
"The new 5-axis machining centre is a significant investment in the next stage of our development. As the largest machine of its type in Ireland, it gives us greater capacity, more flexibility and the ability to manufacture larger, more complex tooling in-house."
The deal was introduced to Paragon by Paul Close Finance in Northern Ireland and was led on behalf of Paragon Bank's SME Lending division by business development manager Joe Blanthorn, with support from head of vendor Terry Lloyd.
Joe explained: "Datum Tool Design is a strong example of a specialist UK manufacturer investing for growth. The business has built a reputation over many years for supporting technically demanding aerospace programmes, working with some of the biggest names in the sector.
"This investment gives Datum the ability to take on larger and more complex projects, while bringing more capability in-house. It also shows the important role asset finance can play in helping established SMEs access the high-value equipment they need to improve productivity, compete for new work and support long-term growth."
Paul Close, director at Paul Close Finance, added: "Datum Tool Design is a highly skilled Northern Ireland business with a strong track record in aerospace manufacturing. This was a significant asset purchase, so it was important to work with a lender that understood both the value of the equipment and the wider growth opportunity for the customer.
"Paragon took a practical and supportive approach throughout, helping deliver a funding package that supports Datum’s continued investment in advanced manufacturing."