FEW companies can claim to have put a 4.5 billion-year-old meteorite through its paces.
But testing debris from outer space is all in a day’s work for Insight NDT, a non-destructive testing firm that plans to hire more staff in response to demand from around the world. The company has secured a six-figure funding package from Yorkshire Bank, which will allow it to buy state-of-the-art x-ray machinery from Russia.
Founded in 1997, the Sheffield-based firm has 22 staff, and offers non-destructive testing and radiographic inspection. It can help companies test equipment for faults in a non-invasive manner.
This is an important service for organisations operating in the subsea, oil and gas and medical sector. Today, Insight NDT has a turnover of more than £2.8m.
It has tested everything from medical implants to the meteorite which was used as an art installation at the London Olympics.
With the capacity to test items ranging from a few kilos up to 16 tonnes, the firm holds a big advantage over competitors who don’t have the equipment to test larger items.
The refinancing deal was delivered by Lynsey Smith, relationship manager for Yorkshire Bank’s business and private banking centre in Sheffield. The new deal will improve the output of the Sheffield warehouse, which will receive a new nine mega electron volt high energy X-ray machine to help increase capacity at the site. More jobs could be created as customer orders grow.
Neil Browne, co-founder and managing director at Insight NDT, said: “Our refinancing deal will ensure we can grow our customer base while also investing in our team.”