US investor pumps seven-figure funding into engineering firm | TheBusinessDesk.com

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RML Group, the Wellingborough engineering firm, has secured a multimillion-pound cash boost from a US-based investor.

The company says the money will be used to expand its operations and enhancing capabilities, as well as further its work in automotive, as well as expanding into the defence, marine and aerospace sectors.

RML Group says it is targeting fivefold growth within the next five years. Funding has come from a private US investor, who has numerous interests across the automotive and renewable energy sectors.

RML Group has also further strengthened its senior management team. Paul Dickinson joins the business from Group Lotus to take up the reigns as group CEO, while Mark Cotton has been appointed as CCO to shape the company's commercial growth strategy. Board member Michael Mallock will lead the group's bespoke division, while Mark Way rounds out the leadership team as CTO.

Dickinson said: "There is significant potential to build on our standing as the global partner of choice for OEMs looking to devise, lead and develop pioneering programmes. Our experience, expertise and dynamism see us working across a huge variety of industries, with a proven track-record of delivering highly ambitious projects.

"This multi-million-pound capital injection will help us to rapidly scale our operations and further accelerate our growth. With an unmatched pedigree, a hugely talented team and a clear growth vision, we're laser-focused on building a world-leading business for the future."

Alongside driving projects for global OEMs, RML Group holds multiple world championships in various motorsport formulae