MV in fast lane thanks to Skills Escalator grant

“All the local business support we have received has been so helpful...the Skills Escalator Grant has been brilliant, just when we needed it.”

A small Warwickshire business is fully punching its weight in the world of Formula One – and planning further growth – thanks to a Skills Escalator grant from the UK Shared Prosperity Fund (UKSPF).

MV Composites counts a number of F1 teams among his customers at its base on the Heathcote Industrial Estate in Leamington Spa. Directors Matt Lainsbury and Will Waterman have deployed their many contacts and long experience in the industry to oversee growth from a workforce of three to 23 in two and a half years.

They are now looking to move to the next level again after receiving a Skills Escalator grant for staff training which has enabled them to start a night shift at the factory.

The Skills Escalator Fund, delivered by Warwickshire Skills Hub, is funded by UKSPF in partnership with the county’s district and borough councils, in the case of MV Composites, Warwick District Council.

The support has put into place the last piece in the production jigsaw at the factory in which the business has invested heavily since moving in last January, said Matt.

“It has worked out so well,” he said. “We needed to start a night shift but legally had to have somebody trained in first aid and a fire warden present on every shift. We have spent a lot on the building itself, so wouldn’t have been able to afford the training ourselves, so the grant was perfect.

“Coventry & Warwickshire Growth Hub recommended the grant and put us in touch with Warwickshire Skills Hub who were fantastic. It has helped us out massively. The factory is now open from 7pm on Sunday to 2pm on Saturday.

“As our customer-base is heavily around F1 the winter is our busiest time, so the timing couldn’t better. It is an industry which needs to plan ahead so we are already planning around 2026.”

MV Composites is a perfect example of a small Warwickshire business, fuelled by skill, dedication and hard work, making an impact on a national and international level. F1 is a highly competitive world and Leamington is the perfect location for their contribution to it.

“We are very happy to be in Leamington,” said Matt. “Staff retention is a massive issue and we compete with the F1 teams for recruitment so we need to create a good working environment. Also, when we welcome F1 teams here we want them to be impressed.

“All the local business support we have received has been so helpful. We have just had an energy audit from Warwickshire Business Energy Advice Service which will hopefully help us cut emissions and costs. The Skills Escalator Grant has been brilliant, just when we needed it.”

Steven Convery, Business Skills Support Officer at Warwickshire Skills Hub, said: "I'm proud to have played a role in securing crucial funding through Warwickshire County Council in partnership with Warwick District Council UKSPF Skills Escalator for MV Composites. This support has enabled them to expand their operations to include a night shift, creating new jobs and boosting the local economy. By assisting businesses like MV Composites in accessing vital resources, we can foster a thriving and innovative business environment within our community. 

“Matt and Will have created an amazing business and worked so hard to get it to the stage they have in such a short space of time, I am so excited to see how the team expands over the coming years."

Councillor Ella Billiald, Portfolio Holder for Arts & Economy at Warwick District Council, said: “The District Council is pleased to be able to nurture and support growing local businesses thanks to the Skills Escalator grant. I’m delighted to see that MV Composites is going from strength to strength, creating local jobs and supporting a growing local economy. I wish them every success and look forward to seeing how their business develops.”

Warwickshire County Council’s Portfolio Holder for Economy, Cllr Martin Watson said: “The Skills Escalator Fund is a great example of collaborative business support from national and local government together. It is lovely to hear how MV Composites have grown with business support and have exciting plans to continue to grow.”

Laura Delahunty, Account Manager at Coventry and Warwickshire Growth Hub, helped MV Composites to access ongoing support as well as providing details of programmes and connections to help with their growth.

Laura said: “This is a great example of partnership working in the region. Through engaging with CW Growth Hub, the business has been able to unlock new opportunities, including projects to help them digitise and automate processes, invest in their team (through training and upskilling) and explore funding opportunities to help their ambitious growth plans in the new year and beyond."

* If you would like to know how Warwickshire Skills Hub can support your business with apprenticeships and upskilling, please email skillshub@warwickshire.gov.uk  and one of our Business Support Advisors will be in touch.