Financial backing fuels growth plans for Atlas Composite Technologies
A seven-figure investment will aid the composites manufacturing in diversifying into new end markets, and investment in a new facility, equipment, premises and adding to its staff.
Atlas management team left to right: Ben Swain, head of commercial; Ian Tinkler, head of operations; Grace Atkinson, general manager, aerospace and defence; Lloyd Pearson, managing director; Jamie Johnson, head of engineering; and Dave Wakefield, head of quality. Photo Credit: Atlas Composite Technologies
Atlas Composite Technologies (Ilkeston, U.K.) has received a seven-figure investment from WeDo Business Investments (Oldham, U.K.) to invest in a new plant, equipment, its premises and additional staff. The company says it is gearing up for its next phase of expansion to cater to increasing demand in the U.K. and from overseas.
Atlas designs and manufactures complex composites for use in a range of sectors, including aerospace, defense, medical, elite motorsport and niche automotive such as supercars and hypercars.
The company, acquired in 2017 by brothers Lloyd and Jason Pearson, operates from three sites in Ilkeston, Derbyshire, and employs nearly 120 staff. It is on track for record turnover of £9.3 million this year, an increase of 25% from 2021, and recently retained its AS9100 aerospace industry accreditation. Over the next year, Atlas expects to recruit around 30 staff and expand its facilities to drive further development in existing markets and diversify into new sectors.
WeDo Business Investments is a division of WeDo Business Services, which has its group headquarters in Oldham, Greater Manchester. The company provides a range of services to small- and medium-sized companies. As well as finance, it provides HR, back office, digital, IT and payroll support with a focus on startups and growing businesses. WeDo has taken a minority stake in Atlas as a result of its investment.
WeDo directors Mark Lindsay and Chris Robinson have been working with Atlas for more than two years and were approached to consider a partnership investment to support its future growth.
“With a highly skilled engineering workforce and an experienced, capable and focused management team, Atlas has established an excellent reputation for its industry-leading technical knowledge, built around continuous investment in new technology and the manufacturing of complex composite components and assemblies,” Lindsay says. “Our relationship with Atlas has been built on a simple model of delivering solutions in a transparent and value-added way, which helped the company through the tough COVID period to ensure it got more than it expected from a funding partner.”
According to Lloyd Pearson, managing director of Atlas, “It was refreshing to listen to Mark and Chris and understand how receptive they were to investing in Atlas to support our plans. We’re in excellent shape for the coming years, with a robust cash position enhanced by this latest investment, and we’re excited and focused on delivering the opportunities that lie ahead in our existing markets, diversifying into new areas and investing for the future in plant, equipment, premises and staff.”
