Leicestershire-based supplier to F1 teams set to accelerate growth with £3.25m lending facility

K.S. Composites, the Leicestershire firm, which manufactures carbon fibre and fibre glass components for major automotive companies, has secured a £3.25m lending facility from Praetura Commercial Finance.

The company 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).

K.S. Composites is now using the funding from Praetura to expand into new areas of the luxury market, located largely in the US.

Overseas it 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 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 successfully 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.

Jamie Smith, managing director of K.S. Composites, said: “Since the business started in 1985, our remit has grown to new sectors and territories, drawing on our reputation as the UK’s leading fabricator, renovator and repairer of glass reinforced plastic body work. Since then, the company has continued to evolve each year, and we are looking forward to evolving again with the help of Praetura Commercial Finance, who have really bought into our plans and vision.”

Stuart Bates, commercial director at Praetura Commercial Finance, said: “You need only look at some of the standout names on K.S. Composites’ customer list to know that this is a truly great British manufacturing business. From the get-go, we were inspired by the business’s story and heritage but also its plans going forward, which shows just how far the business has come since the days of only specialising in car parts.”