A Hinckley automotive company is driving forward after expanding with the opening of new premises thanks to a six-figure funding package from Yorkshire Bank.
Vitesse Global Limited now occupies 8,500 sq ft premises at Tungsten Park on Coventry Road after receiving finance from Yorkshire Bank’s Business and Private Banking Centre in Leicester.
The seven-strong company is part of the supply chain to the niche vehicle and Original Equipment Manufacturer (OEM) parts supply network. Vitesse supplys gear boxes, ancillary parts and a component assembly support service to Morgan Motor Company Ltd, and has secured an exclusive OEM supply contract with Mazda Motor Logistics Europe.
Tim Henderson, a director at Vitesse Global Limited with more than 20 years’ experience in the industry, said the £600,000 purpose-built unit would give the company further room for expansion.
Tim said: “The support of Yorkshire Bank has been crucial in our growth plan. It has provided the finance we needed to buy the premises and fit it out for our specific requirements.
“We started the business in 2012 and early on we secured two key contracts with Mazda and Morgan to purchase and supply gear boxes, engines and components. These are supporting their Plus 4, 4/4 and 3 Wheeler cars which have been re-introduced and are proving extremely popular.
“We then gained a contract with Land Rover’s North Africa distributor to build and supply diesel engines for the Landrover Defender 300TDI model.
“That early success means we have been able to provide support for our customers in the niche vehicle network with Original Manufacture Products.
“The backing we have had from Yorkshire Bank has been first-rate. After originally buying a larger unit, we received further support to acquire a smaller second unit next door as we realised we needed more room for expansion.”
Robin Kirkwood, commercial relationship manager at Yorkshire Bank’s Business and Private Banking Centre in New Walk, Leicester, said Vitesse Global Limited was creating a reputation as a specialist in the niche motor vehicle industry.
Robin said: “Yorkshire Bank remains committed to supporting growing, trading businesses and Vitesse Global Limited is an ideal example of that.
“Their involvement in the supply chain of some of the biggest names in the automotive industry, as well as the fact they have substantial orders in the pipeline on rolling contracts, underlines the quality of their work. These new premises will enable them to fulfil growing demand.”