Stratos Precision Engineering Ltd are based in Gloucestershire and have over 100 years’ experience manufacturing quality machined plastic components for the UK and, Europe and US markets. The firm was facing the unprecedented challenges presented by the COVID-19 pandemic and utilised their considerable technical expertise to join Ventilator Challenge UK - a consortium of industrial, technology and engineering businesses from across the aerospace, automotive and medical sectors who came together to produce life-saving medical ventilators for the UK.
In order to respond to the urgent demands of the challenge, new equipment had to be sourced, installed and operating in a very short timescale, as well as implementing new processes, managing the supply chain and introducing new shift patterns in order to fulfil the order. There was a financing need which was required urgently to source and install the new machinery and tooling required to rise to the challenge.
Our strategic approach
We guided the directors through the funding process, helping the firm put together a full application with supporting rationale in order to secure CBILS Government backed funding. We were successful in securing the required support, which enabled the company to fulfil the project requirements, continue to trade, and even expand through the worst of the global pandemic.
We provided a full ‘Business Partner’ support service to the directors, offering a sounding board and advice to assist them with their ongoing growth and operational requirements. At a time of considerable flux, we provided an unbiased view and perspective, along with the structure and guidance needed to navigate the uncharted waters ahead.
As a result of careful planning and support, the business went on to achieve record monthly sales figures from October 2020 onwards, expand their office and manufacturing teams, as well as winning the Corporate LiveWire Prestige Award for ‘Best Engineering Company of the Year in Central England 2020/2021’ and the Punchline Gloucester Award for ‘Business Community Champion 2020’.
We continue to work with the team at Stratos Precision Engineering and offer a full business support service, as well as looking to future requirements for premises, plant and machinery to facilitate their sustained growth.