Tenon Engineering - Support For Business Investment And Growth -
Funding from Coast to Capital helped Tenon move to new premises in Dorking and to invest in new equipment key to deloping their business moving forward.
Tenon Engineering is a precision engineering business based in Dorking, Surrey. Their capabilities include a wide range of machining and sheet metal processes, component assembly and testing, design and project management and supply chain consolidation and management.
Their main objective is to have a thriving business based on providing customers with high quality products at an exceptional level of service. This coupled with the flexibility to adapt to their need to have a wide range of order volumes and often short lead times.
Tenon developed a growth strategy to increase manufacturing sales of their precision instruments. Tenon invested heavily in the necessary IP and resources to support this plan, however, their premises at the time could not support further expansion.
A suitable property was identified in Dorking, however, it required significant investment for refurbishment and installation of new equipment.
Managing Director, Chris Norval, met with Coast to Capital in 2017 to discuss funding options for Tenon's expansion project.
The Coast to Capital Growth Grant programme was identified as a potential solution to their gap in funding. The Growth Grant team supported Tenon in their application process and presentation at the Growth Grant Appraisal Panel.
The approved project awarded Tenon £170,000 to support the purchase a new CNC machine along with other essential equipment to expand their production capacity and relocation to new premises.
The new facility and updated equipment allows Tenon's to meet the demand for bespoke precision manufacturing products.