K.S. Composites, a Leicestershire, UK-based provider of carbon fibre and fibre glass components for automotive companies, received a £3.25M lending facility.
Praetura Commercial Finance provided the financing.
The company intends to use the funds to expand into new areas of the luxury market, located largely in the U.S.
Led by Jamie Smith, managing director, K.S. Composites supplies Formula 1 teams with both structural and non-structural carbon fibre components from chassis parts to body panels. It also is a key supplier to supercar manufacturers and automotive original equipment manufacturers (OEMs). The high-tech components developed by the company are used by car makers to provide lightweight solutions to their manufacturing requirements.
Overseas, K.S. will focus on the production of fibre glass and carbon components for luxury hotels and super yachts. It is also working to expand into other new sectors including defence, where there is an increasing demand for sophisticated carbon fibre components.
The business has also recently secured a new civil engineering contract with Network Rail, using its innovative materials to construct more sustainable composite footbridges.
The business, which has doubled its revenue over the last two years, has set up its own Composite Training School, with 30 newcomers to the industry having already completed the course. The majority have now taken up full-time positions with the company at its 48,000 sq. ft. base in Melton Mowbray. This is also a key part of the business’ strategy, by contributing to British manufacturing and providing ongoing training to UK based talent, reducing the sector’s use of offshore contractors.
FinSMEs
10/11/2023
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