With seven of the world’s ten Formula One teams based in Britain — pumping £10bn each year into the economy — the UK’s motorsport industry has survived the recession relatively unscathed.
More than 4,000 smaller commercial and manufacturing companies owe their existence to the sport, accounting for nearly 41,000 jobs. All of which is good news for Northamptonshire, known for decades as the heart of “Motorsport Valley”, and with its spin-off prosperity now spreading across the county to Wellingborough.
Launching his business just over 30 years ago from a small industrial unit on the Silverstone racing circuit, Paul Crosby — a former race engineer for the March Formula One team — began trading as Crosby Composites to supply glass fibre wet lay panels to the motorsport industry.
Since then his company has grown to occupy around 25,000 sq ft in two facilities at Brackley. It now employs 90 people and offers high quality carbon fibre components to a range of clients including all the leading F1 teams.
“Our existing buildings had become full to capacity which led to a search of the Midlands for additional premises,” explained Crosby managing director, Paul Field. “As well as providing a suitable property, Wellingborough provided a mix of skilled labour and candidates that we will train to a high level within the composite industry.”
His company has just completed the purchase of the former GEC Siemens building at Dennington Industrial Estate (pictured). Located on a 3.83-acre site, Crosby’s new 63,000 sq ft base was acquired through commercial agents Prop-Search, acting for Aviva.
Crosby, which runs its own in-house training programme, expects to employ an extra 150 people over the next five years. “As well as having a strong customer base within the automotive industry for customers such as Mercedes F1, Red Bull F1, McLaren F1 and Aston Martin, we also trade within the aerospace, sports and medical sectors,” Paul Field added.
With the help of the Prop-Search surveying team, Crosby is about to start a bespoke fit-out of its new Wellingborough facility to allow it to provide all composite needs, from concept to final component. This will include computer aided design stations for design and conceptual work, computer numerical controlled machines for tooling block patterns, aluminium moulds and machining components, and laminating, and trim and fitting departments.
Simon Toseland is Prop-Search director who oversaw the deal. “I am delighted we managed to secure Crosby Composites for Wellingborough,” he said. “The former Siemens building was too low for modern day warehousing, but is ideal for manufacture.
“This combined with the town’s growth plans and future employment pool, means that Crosby — and other businesses — can take a long term view of the location, offering job security and opportunity for local residents.”
Wellingborough Council granted a change of use for the property with Peter Morrall, planning committee chairman, adding: “This is excellent news for our borough and we unanimously supported the company’s planning application.
“Wellingborough is growing, with major developments including the £500m Stanton Cross project underway. More and more businesses are seeing what the borough has to offer and are choosing to set up here.
“With our low house prices, excellent transport links and strong development plans, Wellingborough is going from strength to strength.”
Previous Post
Partners unveil £100m Great Charles Place Vision
