•Founded in the 1960s, Project Nova is a privately owned engineering business specialising in the design, manufacture and assembly of bespoke tooling applications.
•Project Nova has developed a strong reputation in delivering high-quality, technically complex and bespoke solutions for its customers in the UK across a variety of sectors including construction, industrial and automotive. Supported by substantial CNC machining and fabrication capabilities, its broad range of products includes complex jigs, fixtures, positioners and robotic tooling solutions.
•Project Nova trades within a modern manufacturing infrastructure from two leasehold premises in the Midlands, utilising integrated software platforms to manage the design, planning and manufacture process. Project Nova’s end-to-end service enables it to support its customers from the design and concept phase through to delivery.
•Project Nova has 18 highly-skilled employees including an experienced management function, with significant technical expertise across the design and manufacturing teams.
•Project Nova’s key assets are its existing customer contracts (including longstanding relationships), plant and machinery (subject to finance), stock, intellectual property and an unencumbered debtor book.
•Whilst Project Nova has achieved annual growth in gross profit margins, a more challenging trading period has been experienced in recent years.
•Project Nova expanded into a new trading premises and invested in significant CapEx to support future growth and increase its operational capacity. Management confirm that issues brought upon by fluctuating market conditions, challenges experienced in completing isolated projects and increasing overheads has resulted in cashflow pressures.
•Notwithstanding a challenging economic backdrop, Project Nova has continued to achieve strong gross profit margins. Management remains confident in the underlying strength of the business, supported by its established customer base and profitable core operating model.
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