Analysts welcomed this morning’s funding news with upbeat write-ups. SEG is expected to go from strength to strength as it uses the new cash to boost its exports into India and China, as well as expand its presence in the United States.

The British engineering group will supply its specialised boiler pumps to influential suppliers to the Indian and Chinese energy generation markets. Chief executive Ewan Lloyd-baker told Proactive Investors that its Hayward Tyler unit is flying the flag for the UK in these competitive growth export markets.

CEO Ewan Lloyd-Baker told Proactive Investors he has made contact with McNally Bharat Engineering (MBE), the company’s new 10.79 per cent shareholder, but he says it is too early to say whether the Indian civil engineer plans to increase its stake.

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.