Global growth is on the cards for a Coventry-based concept model and prototype manufacturer which has been acquired by a business consortium.
HPL Prototypes Ltd (HPL), which specialises in full-sized concept models and prototypes for blue-chip companies in the automotive, rail and aerospace industries, has been bought by a consortium of business leaders with expertise in lean process management as well as extensive experience of the engineering services sector.
The company employs 50 staff and turnover this year is approaching £6m. With the expansion planned for next year, both headcount and turnover are expected to increase by 15 to 20%.
Recently appointed HPL chief executive Chris Devane said: “HPL is a skilled and dedicated team with high-tech facilities and a first-class reputation. Our mission is to build on the team’s strengths to transform operational performance and enable the business to reach its full potential.”
Chris Cooper, newly appointed director of HPL, commenting on the acquisition, said: “We are excited to be part of the continuing success of HPL. Our expertise in engineering services and commitment to invest in people and processes will help HPL become a truly global player. In the longer term, our plan is to create a powerful group of companies providing a complete range of engineering services with a focus on bespoke products.”