|Client:||KS Composites Limited|
|Service:||Confidential Invoice Discounting|
KS Composites – a manufacturer of carbon fibre and fibre glass components for leading automotive original equipment manufacturers (OEMs), Formula 1 teams and niche supercar manufacturers – was looking for a new funding partner to help support the company’s growth and diversification plans.
Praetura Commercial Finance arranged a £3.25m lending facility to enable the business to expand into new territories and sectors.
The Leicestershire-based company has already expanded beyond its roots in the motorsport and automotive sectors, with the business now designing and manufacturing for the leisure and luxury markets through the production of fibre glass and carbon components for super yachts. KSC has also recently secured a new contract with Network Rail to make composite footbridges, which make innovative use of sustainable flax materials in the manufacturing process.
Now the business plans to build on its success, which includes lucrative leisure sector contracts in the US, by offering its services to new customers.
Jamie Smith, Managing Director of KS 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, commented: “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.”