A hi-tech aerospace textiles business that its founder started on her credit card is set for a next phase of growth after securing a funding deal.
Industrial sewing firm Needles and Pins Aerospace was founded by Carole Champion in 2018 to do high-precision needlework for aerospace applications including the linings of Chinook helicopters. Today it is a market leader in aerospace textile products including protective covers, acoustic insulation, and interior fabrics for military and civilian aircraft.
The business this year announced it was expanding its production site at Somerton in Somerset and started looking for working capital to support its growth strategy and allow it to create more jobs and take on more contracts with clients such as Boeing Defence Ƶ. Now it has secured a “six figure-funding boost” from the British Business Bank’s South West Investment Fund through fund manager FW Capital.
Carole’s son Dillon Harmon is working alongside her as chief operating officer at the family business as it plans its next phase of growth using the latest funding round.
Carole, chief executive of Needles and Pins Aerospace, said: “The growth we have experienced has been amazing and I’m very proud to have nurtured the business from humble beginnings, starting the company using my credit card back in 2018. Today we work with a number of aviation and defence giants including Leonardo and Boeing.
“This investment comes at an important time in our company’s development as we are embarking on a real step change of growth. After expanding our production facility in the summer this gives us the working capital to continue with our development plans and we’re looking forward to welcoming new recruits to our team.”
Ben Donati, investment executive at FW Capital added: “With Carole at the helm, Needles and Pins Aerospace is a dynamic and successful business. In what is a notoriously male-dominated sector, Carole and her team have enjoyed impressive growth, bringing a commitment to excellence and innovation in everything they do.
“The firm delivers high-quality textile solutions that support aviation and defence clients across the globe. I’m looking forward to being involved with this exciting stage of their development.”
Lizzy Upton, senior investment manager at the British Business Bank said: “Needles and Pins Aerospace shows how specialist expertise developed here in the South West can compete on the global stage. Carole has built a business with skills that are in demand from some of the world’s largest aerospace and defence companies. It’s inspiring to see a family-led company from Somerset making its mark in such a highly technical sector, and we’re pleased that the South West Investment Fund can play a part in supporting their next phase of growth.”
