Leamington Spa Start-Up MV Composites Secures £150,000 Funding to Accelerate Growth

MV Composites, a rapidly growing Leamington Spa-based start-up specializing in high-performance carbon fibre components for Formula One (F1) teams, has secured a £150,000 loan from the Midlands Engine Investment Fund II, managed by Frontier Development Capital (FDC).

Founded in 2021 by Will Waterman and Mat Lainsbury, both with over 15 years of experience in F1, MV Composites has seen remarkable growth, increasing its staff from just three to 17 employees in two years. The company’s turnover has skyrocketed, rising ten-fold, prompting a move to larger 5,000ft2 premises. The funding will enable the company to complete its new facility’s fit-out and create five additional jobs in the coming weeks.

MV Composites provides a full-service solution for high-quality carbon fibre components, from concept to prototype and full-scale production. The company has quickly gained a reputation for its ability to meet the fast-paced, high-precision demands of F1 teams and other motorsport clients. The company’s name, inspired by Motorsport Valley—the cluster of motorsport businesses centered around Silverstone—reflects its deep roots in the industry.

Will Waterman, co-founder of MV Composites, explained: “We identified a gap in the market where many composites manufacturers weren’t equipped to handle the specific needs of F1 teams. MV Composites was built to fill that gap, offering precise, high-quality parts and rapid turnaround times. With this funding, we can continue to scale our operations, enhance our new facility, and hire more staff to support our growing business.”

Raj Minhas from FDC praised MV Composites for its rapid growth and strong reputation in F1. “The company has built an excellent foundation with the right infrastructure and is poised for further success in the industry. This funding will allow them to maintain momentum and continue meeting the evolving demands of their customers,” Minhas said.

David Tindall from the British Business Bank highlighted the role of the Midlands Engine Investment Fund II in supporting innovative businesses like MV Composites, stating, “This investment demonstrates our commitment to fostering growth and innovation in the Midlands.”

MV Composites’ success is a testament to the impact of local investment and collaboration, as it continues to expand and contribute to the motorsport industry’s growth. The Midlands Engine Investment Fund II, which supports businesses across the Midlands region, aims to stimulate economic growth and provide crucial financial resources to small- and medium-sized businesses like MV Composites.