Ayrshire's Hyspec Engineering eyes larger global portfolio and local workforce after £500k funding boost

Ayrshire-headquartered manufacturing firm Hyspec Engineering is looking to grow its international portfolio after securing a £500,000 funding boost amid a busy pipeline of new contracts and plans for job-creation.

The Kilmarnock-based firm, which calls itself a provider of sub-contract precision engineering in the oil and gas, defence, aerospace and renewables sectors, has secured the sum from UKSE, which helps businesses in areas with roots in the steel industry. Hyspec said the capital boost will help it continue building its portfolio of clients across the globe, and comes as 2022 has seen it it enjoy its highest order intake since 2018, while it recently secured a long-term multi-million contract with a key customer for new subsea exploration equipment.

To meet demand, it is planning over the next 18 months to create 15 to 20 jobs for the Ayrshire region, boosting the existing 90-strong workforce, and after its apprenticeship programme in partnership with Kilmarnock College in October welcomed three new recruits.

The firm’s finance manager Michael Douglas said the new funding package “has enabled us to embark on an exciting new chapter of growth”. He added: “Imperative to Hyspec Engineering’s legacy is making a positive impact on the local economy. That’s why we are significantly investing in a recruitment drive and enhancing our apprenticeship programme to ensure we are future-proofing the firm with a skilled workforce.”

From left: Andy Currans, Hyspec operations manager; Terry Quinn, UKSE regional executive; and Michael Douglas, Hypersec finance manager. Picture: contributed.

Terry Quinn, regional executive at UKSE, said: “Hypsec Engineering is a prime example of a Scottish firm that is a force for good within local communities. UKSE is proud to support its ambitious growth and we look forward to seeing the firm go from strength to strength.”