Finance deal with Barclays allows racing engine specialist to accelerate expansion

January 7, 2014
By

Chiseldon-based motor sport firm Ridgeway Racing Engines has expanded into new premises after securing funding from Barclays.

Launched in 2009, the business is owned and managed by Paul Broadway, who previously worked at Swindon Racing Engines for 25 years. 

It has developed a strong reputation for high-quality engines and parts – demand from the UK and overseas has accelerated sharply over the past year, prompting the move to larger workshop space.

Ridgeway’s engines and components are known for their engineering quality and race-wining potential. Its team of four experienced engineers are recognised as experts in building Cosworth, BMW and Toyota engines, and focus solely on historic touring cars, saloons, F1, F2 and F3. 

Paul said: “Purchasing and expanding the premises in Chiseldon is a major step in securing the long-term plans for the business and supports its continued future growth aspirations. The new premises will allow us to operate and deliver what we do best to the highest level.”

The business used the Government-backed Funding for Lending scheme to buy and kit out the premises and two neighbouring units on the Unicorn Business Centre from where it will be able to meet increased demand.

Barclays business manager in Swindon, Aaron Fitzpatrick, said: “This is a great example of a local business which is using its expertise and experience to meet and exceed customer expectations and through word of mouth has gone from strength to strength in a relatively short period of time. 

“Barclays has an appetite to work alongside and lend to businesses such as this, and we wish Paul and his team every success in the coming months.”

 

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