A specialised builder of military small boats – Marine Specialised Technology – secures £6m funding package as it expands production at its yard on the River Mersey to meet rising demand. Tony McDonough reports

Wirral small boat specialist Marine Specialised Technology (MST) has secured a £6m funding package from NatWest as it looks to expand to meet growing demand.

MST, which generates annual revenues of around £20m, designs and manufactures high speed and rigid inflatable boats (RIBs), primarily for the military, coast guard and law enforcement sectors, exporting to countries across the globe.

It relocated from Liverpool to Bromborough in Wirral in 2022 and operates from a yard and manufacturing base on the banks of the River Mersey, employing 135 people.

This latest cash injection from NatWest will help the venture to manage working capital requirements amid a record order book and increasing demand for its small vessels. Its customers include coastguard, special forces, law enforcement, paramilitary, and industrial entities.

In its most recent accounts the company said it is expecting a surge in orders over the coming years as global insecurity prompts investment into military hardware.

In October 2024 MST said it had secured its first orders for its new Fast Interception Craft. It has developed the FIC-1700 craft in partnership with BMT.

This vessel is specifically designed for all-weather rapid deployment operations, including maritime law enforcement and border control. Another recent contract saw the company supply 12 boats to be used by German special forces.

Ben Kerfoot, MST managing director, said: “We are extremely pleased to be working with NatWest, who has created this major funding package for us in an efficient, thorough, and flexible manner.

“Working in a specialist industry as we do, NatWest really took the time to understand our business, and we look forward to having this enhanced financial capability to scale our operations and meet rapidly accelerating demand. This is a milestone moment for us.”

READ MORE: Mersey cruise sector is ‘vital’ to economy says minister

MST also offers wrap-around services such as bespoke training on vessel operation, technical support, craft maintenance and repair, as well as spare parts and vessel upgrades as technology advances.

Daniel Hyland, relationship manager, NatWest, said the bank was impressed by MST’s hi-tech, bespoke approach to serving clients, including crucial defence and search-and-rescue forces internationally, and the team’s significant potential for growth.