Alvis has entered the building after bank support
A HEREFORDSHIRE classic and vintage car restoration business has purchased new premises in order to sustain growth. Earley Engineering has invested £400,000 in acquiring a new unit at Kingstone after securing support from Barclays.
The investment has given the firm access to increased warehousing, parts manufacturing, servicing capabilities and a new modular office building.
The family business was originally set up in 1993 by Alvis car enthusiast and professional car engineer Nick Simpson. It specialised in the restoration and servicing of the Midlands-manufactured Alvis range.
Under the guidance of son Alex Simpson, supported by a strong team of dedicated and highly skilled engineers, Earley Engineering Ltd now employs 10 staff and has grown turnover to an expected £600,000 this year.
Alex Simpson, managing director of the business said: “I joined the business in 1999 as a mechanic but have always shared my father’s passion for Alvis since I was a boy. Alvis produced high quality British built cars from the 1920’s until production finally ceased in 1967 and there are only an estimated 4,000 still in existence.”
He said a full restoration could take anything up to two years and fully restored, the most desirable Alvis could be worth up to £750,000.
“We are one of only two dedicated Alvis restoration service providers in the world and over 60% of our business is from overseas as customers from all over the globe recognise our ability to blend traditional handmade restoration techniques with 21st century engineering,” he said.
Steve Massey, Barclays Senior Business Banking Manager said: “By working closely and really understanding the business, Barclays has been able to support Earley Engineering financially and professionally throughout its expansion.
“This business has continued to grow through the economic downturn as investors have looked to vintage cars as an alternative to traditional investments, combined with the excellent reputation the business has established over a number of years. The new unit will provide much needed additional space to accommodate existing and future growth potential.”
“We are very optimistic for the future and already have plans to take on two extra staff over the next 12 months,” added Simpson.
“We already have work for the next two years as demand for our specialist services continues to grow. We pride ourselves in restoring these classic vintage cars for today’s lifestyle so if a customer wants power steering or air conditioning we can accommodate any request.
“We have seen an increase in investors who want to enjoy their asset rather than keep it locked in a bank vault and therefore vintage cars have gained popularity. We believe that Alvis belongs on the road not in a museum and with the right servicing can be as reliable as any modern day vehicle but is definitely more fun.”
