This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Powering precision funding for Boneham & Turner
Boneham & Turner’s North Star Objectives
Enhanced Supply Chain Resilience -To benefit from improved cash flow, enabling the business to support its suppliers post-pandemic, ensuring a robust and reliable supply chain for their precision-engineered components.
Agile Growth and Innovation -To capitalise on growth opportunities, invest in new product development, and adapt swiftly to market changes, setting the business apart from its larger competitors and positioning it for long-term success.
Increased Working Capital Flexibility – To have the necessary working capital headroom to respond quickly to customer demand, especially for accelerated order fulfilment in their aerospace, automotive, and motorsport supply chains.
About Boneham & Turner Ltd
Established for over 100 years and headquartered in Sutton-in-Ashfield, Nottinghamshire, Boneham & Turner Ltd is a leading global manufacturer and distributor of precision-engineered components, driving productivity for the aerospace, automotive and motorsport supply chains. The business manufactures precision, standard and tailored solutions to meet its clients’ exacting requirements with AS9100D quality approval. In addition to its UK operations, the group has a U.S. subsidiary based in New Jersey, which manufactures drill bushings and precision location and alignment solutions.
Exploring the Opportunity
Peter Boneham, Managing Director of Boneham & Turner Ltd, explained: “We had a couple of main strategic drivers that we could see would maximise advantages for both ends of our supply chain. The first of these opportunities was to help our suppliers with their cash flow post-pandemic and the second was to enable us to have the additional working capital headroom to give us the ability to wrap up the depleted inventories of our clients within the accelerated response times they require.”
He continued: “I knew James Bingham, the Founding Director of Pathfinder Invoice Finance, from my school days and we were connected on LinkedIn. When it came to putting a working capital facility in place, he was my first point of contact. The trust was already there, and I could see from the content that he puts out that he is extremely knowledgeable about the industry and really knows what he’s talking about. I met up with him and our finance manager and we were massively reassured that he understood our business straight away. It became clear that he has significant experience in funding businesses of our size and our type of industry. Importantly, he listened to what we are about and what we are looking to achieve, our key focus and our core values.”
The team structured a flexible invoice discounting facility with the level of funding that will enable Boneham & Turner to capitalise on growth opportunities as well as invest in new product development to satisfy customer demand.
Discovering the Outcome
Peter Boneham added: “The process of securing funding was incredibly quick, and James ensured that the facility fit both our needs and those of our supply chain perfectly. Today, our core markets that were artificially suppressed by the pandemic and constrained by the availability of semiconductors, are now buoyant as they ramp up to fulfil their significant order books. With the new revolving funding line available to us, we can be very agile and can take decisions and change direction very quickly unlike some of our bigger competitors that can take some time to turn.”
He concluded: “We hadn’t used invoice discounting before as a business, so it was new territory for us. Having the benefit of James’ integrity, experience and ability to ask the right questions and understand our business has made all the difference and we would highly recommend him to any business looking to drive growth.”
James Bingham, Founding Director of Pathfinder Invoice Finance, commented: “We are delighted to have supported Peter Boneham and the management team in securing this important funding line to meet their strategic objectives. This is an extremely well-managed business with a strong and highly experienced management team operating in distinct and dynamic core sectors, and we wish them every success on their exciting growth trajectory.”