Prodrive Composites, a Milton Keynes, UK-based producer of lightweight composite components and structures, such as interior trims and bodywork for the automotive, aerospace and marine sectors, received a £6m equity investment.
Business Growth Fund made the investment. As part of the deal, John Weston joined the company as non-executive chairman.
Created in the early 2000s by David Richards, chairman, and led by managing director Dominic Cartwright, Prodrive Composites serves premium and sports car manufacturers and aerospace customers. The business employs nearly 200 people at its manufacturing plant in Milton Keynes. The production process is carried out in-house, from receipt of raw material to production of the finished high-performance components and structures.
Sales hit £13m last year and are on course to grow to more than £15m at the end of this financial year.
FinSMEs
05/08/2015