Quickstep is the largest independent aerospace-grade advanced composite manufacturer in Australia, developing and licensing advanced composite manufacturing technologies for local and global markets.

Quickstep has developed a patented advanced manufacturing process for the moulding and curing (or strengthening) of composite parts called Qure, which is more efficient, faster and cheaper than the traditional industry method of making composites in an autoclave oven.

Quickstep uses this method to supply composite parts to aerospace manufacturers, both civil and military, as well as supplying manufacturing solutions that allow other aerospace and automotive manufacturers and suppliers to use its patented process to make composite parts themselves.

Two high profile contracts

Quickstep had a major breakthrough with its patented process, after receiving an order from an aerospace company for one its production machines.

The company was a government entity in Europe, which was looking to make shielding parts for its satellites.

Quickstep also won a major composite manufacturing contract from the United States government, which will see it join a panel of manufacturers from around the world supplying parts for a long-term program of building fighter aircraft.

Both these contracts required additional finance, whether it was covering the bonds for the first contract or a large capital investment for the second contract.

This would have consumed a huge amount of Quickstep’s working capital, which would have prevented it from funding the upfront costs for these projects.

While Quickstep’s bank was very supportive of these new projects, it required 100% cash security before it could provide the bank guarantee that Quickstep needed to proceed.

How we helped

We provided Quickstep with a A$7 million uncommitted multi-option facility, which included bonding support and an export working capital guarantee.

This combined funding package was instrumental in ensuring Quickstep’s participation in both of these projects, allowing the company to move from a research and development organisation into one that can manufacture parts and sell its technology to the world.

The package of work being carried out by Quickstep within these two projects will create 200 new jobs at its peak, as well as enhancing the company’s reputation as one that can manufacture and deliver advanced composites internationally.

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