Written question WQ97461

The Development Bank of Wales (DBW) continues to actively support the defence sector as a strategically important contributor to the Welsh economy, encompassing a diverse supply chain from advanced manufacturing and technology to specialist training and textiles.

In recent years, DBW have provided over £11 million in debt and equity funding to at least nine SME companies operating within the defence sector across Wales. These businesses span a range of specialisms and locations, reflecting the sector’s breadth and regional impact. One notable example is their seven-figure investment in Wrexham-based Riva UK, which supported a successful management buy-out. Riva UK is a high-performing textile manufacturer supplying the automotive, aerospace, industrial, and defence industries.

Another example is Llanelec, a precision engineering firm specialising in CNC machining for military vehicles and aircraft. In 2021, DBW provided funding to facilitate their acquisition and relocation to a 100,000 sq.ft manufacturing facility in Neath, significantly expanding their operational capacity. Since this investment, Llanelec has demonstrated impressive growth—scaling annual revenue expanding the workforce from 18 to 69 full-time employees, with the majority of roles being highly skilled.

Please note that queries regarding specific investments should be made directly to the bank as Welsh Ministers do not take any active role in individual investment decisions. You will also understand that investments are commercial matters, and not all businesses agree to specific commercial arrangements being made placed into the public domain.

The bank remains committed to working in partnership with SMEs across Wales to ensure they have access to the capital and support needed to thrive within this vital sector.