Established technology brand Cambridge Consultants has seen a boost for its expansion plans after receiving a £6.2 million finance facility by Barclays.

The money will be put towards recruiting an additional 100 staff at the company’s Cambridge Science Park headquarters. The move comes as a response to several year-on-year increases to demand for its advanced product development capabilities.

The company’s impressive recent growth has been aided by being named on the Sunday Times 100 ‘Best Mid-Sized Companies to Work For’ list on two consecutive occasions.

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The business was founded more than 500 years ago and currently has bases in the UK, US and Asia. It operates in a number of technical fields including wireless communications, medical technology, consumer and industrial markets.

Cambridge Consultants CFO Mammen Eapen said the business is experiencing “unparrelled growth from across the globe”.

“We need to make sure we are able to match that growth by providing the best possible environment for the talented engineers we recruit and employ,” he said. “We look forward to continuing our relationship with Barclays, during a period in which we expect to grow our facilities significantly.”

Barclays Corporate Banking relationship director Richard Redman added: “With the recruitment of top quality staff as the cornerstone of their strategy, the banking facility will allow Cambridge Consultants to build on their continued success and maintain their place as a true world leader.”

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