WH Davis to expand workforce by 25% with backing from UK Government Shirebrook business, WH Davis will supply 150 freight wagons to Ireland following a deal backed by UK Export Finance.
You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media.
WH Davis, the UK's sole remaining independent railway wagon manufacturer – and part of Buckland Rail – has secured a €44m export deal to supply 150 freight wagons to Ireland with support from the UK's export credit agency. The deal has been enabled with support from export credit agency UK Export Finance (UKEF) through its Bond Support Scheme. An 80% guarantee provided by UKEF for the required contract bond means WH Davis's bank, Barclays, was able to issue vital capital that would help to fund the production and delivery of the wagons.
The contract represents the first order under a 10-year framework agreement that could see the number of wagons supplied rise to 400. The wagons will support Ireland's ambitious rail freight expansion strategy and are expected to start delivering in summer 2026, with all wagons delivered and in service by the end of 2027. The contract is expected to facilitate a significant expansion of the company's workforce by one quarter (25%) – from 80 to 100 staff members. The jobs will be located at WH Davis's manufacturing site in Shirebrook – an ex-mining village in the East Midlands – helping to revitalise employment in the area.
Gareth Thomas, Minister for Exports and Small Businesses, said: "UK manufacturers have huge exporting and growth potential, and WH Davis's breakthrough into this market is a perfect example of how the right support can help unleash this. Through our Plan for Small Businesses and Trade Strategy we're removing barriers for SME exporters. This connects them with global opportunities, to create high paying jobs and support local economies as part of the Plan for Change."
Tim Reid at UK Export Finance, said: "WH Davis's return to exporting after 20 years, backed by UKEF's Bond Support Scheme, shows the transformative power of export finance in revitalising local manufacturing and creating skilled jobs in communities like Shirebrook. This is a clear example of the potential that British firms have to succeed in global markets while driving local growth."
The new wagons offer a third more carrying capacity compared to Iarnród Éireann's older fleet and are faster too with a maximum speed of 110kmh (up from 80kmh). With larger and faster wagons, more companies will be able to use them for transporting goods to businesses and communities around Ireland. UKEF's backing has provided WH Davis – part of Buckland Rail – with a foundation to expand its operations and prepare for future orders under the agreement too. Discussions around the second phase of the contract are already underway, with potential for further product development and export expansion."
Andy Houghton, Managing Director of WH Davis, said: "We are proud to be shaping the future of rail freight with this landmark export contract. This is a significant milestone for WH Davis and reaffirms the strength of UK manufacturing on the international stage. UKEF's support has given us the confidence and liquidity to deliver on our ambitions and explore new export internationally."
Barclays has a long-standing relationship with WH Davis, which was key in facilitating the innovative bonding structure used in this deal. The bank is supporting the business with a total of €28.7 million in UKEF backed bonding facilities over a 3-year period for the project."'
James Guthrie, UK Head of Mid-Corporate Trade at Barclays, said: "We're proud to have supported WH Davis on this milestone deal, which marks a major step forward for the business and for UK manufacturing. By working closely with UKEF, we were able to provide a financing solution that gives WH Davis the flexibility and confidence to deliver on this contract and pursue further growth in Europe. It's a great example of how strong collaboration between lenders and government-backed finance can unlock global opportunities for ambitious British exporters."
As WH Davis looks beyond Ireland, the company is preparing to target further markets across Europe and internationally, opening new doors for UK rail manufacturing with the confidence of UKEF support behind it.
This announcement forms part of the government's Plan for Change to kickstart economic growth and raise living standards across the United Kingdom by supporting businesses to export and grow through its Industrial Strategy.
The news follows the recent publication of UKEF's annual report & accounts for 2024/25.
Over the last financial year, UKEF provided a record £14.5 billion in new financing, helping over 667 UK companies to export and grow and supported up to 70,000 jobs.
