Balancing heritage and innovation after firm's management buyout

A DIVISION of an East Midlands engineering company has undergone a management buyout and is primed for rapid growth with support from WeDo Business Finance.

- By TELEGRAPH REPORTER

Chris Crank

The composites division of Neos Solutions has been acquired by a team with over 100 years' combined experience in the sector, led by director Matty Lloyd.

Following the management buyout, the newly-acquired business has been relaunched as UK Composites and is operating from the same purpose-built 50,000sq ft engineering and manufacturing facility as before at Westside Park, Derby.

UK Composites designs and manufactures carbon fibre and composite parts for a global client base, including niche automotive and motorsport companies such as Aston Martin F1, Lotus, Norton Motorcyles and Overfinch, and businesses in the aerospace, rail, defence, healthcare, home furnishings and space sectors.

Matty has more than 25 years' experience in composites and the management team includes production manager Sam Ryde, senior composites engineer Darren Ashford, lead project engineer Ben Dale, quality manager Aaron Church and lead designer Vinoth Periyasamy, alongside finance and accounts administrator Alexandra Girla.