Western Pegasus, a precision engineering business based in Birmingham, has secured a £1.2 million funding package from HSBC UK to rebuild its operations following a major fire. 

The business, which produces highly specialised quality control parts for automotive, aerospace and motor sport industries, will use the funding to move to a new site, replace key machinery, and get production back up to speed. 

Within a week of the incident, HSBC UK provided an initial £850,000 overdraft to support immediate recovery needs while insurance claims were being processed. This was followed by a £1.2 million loan to support the company’s relocation and restart. The funding helped Western Pegasus continue trading, protect its £3 million annual turnover, and keep its 40 strong team members and suppliers in Birmingham.  

Andy Wincel, President of Western Pegasus, said: “The fire in April could have ended Western Pegasus, but thanks to the immediate support from HSBC UK and the incredible effort from our team, the business has come back stronger. We lost vital equipment, highly specialised machinery, not to mention the months of progress on existing work overnight. The emotional and financial impact was huge, yet the determination of our people has been truly inspiring. Everyone pulled together, and we’re proud of how far we’ve come in such a short time.” 

Steve Eames, Relationship Manager at HSBC UK, added: “Supporting Western Pegasus through such a challenging time has been a highly rewarding experience. We acted quickly to support its recovery, and the resilience shown by the team was remarkable. It’s fantastic to see the business thriving.” 

Western Pegasus has banked with HSBC UK since 2007 and is known for its reliability and quality across the global automotive supply chain. With facilities in the United States and England, and representatives across North America, Europe, South America, Asia and Africa, Western Pegasus is positioned as a full-service supplier in today’s global market. 

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