Automotive engineering company to create jobs with support from Reward Finance

Pictured: Olly Marshall (left) of ProSpeed ​​and Alan Sanderson of Reward Finance Group

A York-based specialist automotive engineering firm is set to create jobs after securing a £ 200,000 funding injection from Reward Finance Group.

ProSpeed ​​is set to create six jobs, with plans now in place to double the size of the 15 employees over the next 12 months.

The company has benefited from increased orders from across Europe thanks to its growing reputation for bespoke Land Rover Discovery accessories and six-wheel Hi-Lux chassis specifically designed for emergency vehicles.

To help fulfill the orders, ProSpeed ​​organized a £ 200,000 working capital injection from Reward Finance Group.

ProSpeed ​​Founder Olly Marshall said, “With everything going on we expect to be very lucky. We have great opportunities on the horizon with 6×6 vehicles, Discovery accessories and a few other spinoff projects that have seen the day of our growing reputation, including electric vehicles.

“We are grateful to Reward for providing us with the financial support that enabled us to engage in these opportunities. It has been refreshing to work with Alan Sanderson and the team at Reward as they are the bank like them. was previously, which is the approach of a business. as we need it, to be able to grow. “

Alan Sanderson, Senior Relations Manager at Reward Finance Group, added: “This is a truly inspiring success story. What started as a hobby for Olly has grown into a world-class business with a team of innovative and highly skilled automotive engineers.

“When Reward was introduced to the company by Craig Simpson of Real Commercial Finance, we met Olly and were very impressed with the structure, the business plan and the fact that orders are pouring in due to the growing reputation. of ProSpeed ​​for the production of superior quality products. .

“We therefore did not hesitate to provide the commercial financing to allow the company to continue its expansion and to meet its growing order backlog.”

Olly Marshall started ProSpeed ​​in 2003 repairing rally cars. This evolved into the construction and sale of vehicles; provide support during races; and finally pack them up.

In 2010, Marshall started building a better line of all-terrain accessories for Land Rover Discovery, including low-profile roof racks and underbody protection.

In 2016, the company converted four panel vans to replace articulated trucks with a more cost-effective and compact option for live broadcasts, at a cost of 1.4 million pounds each.

It has also designed, developed and manufactured ten six-wheel Hi-Lux chassis, from concept to solution, for vehicles such as military ambulances, aerial work platforms, fire and rescue vehicles. Since then, orders have been received from customers in the UK, Poland and the Czech Republic for 14 additional fire trucks to be delivered this year and 25 more in 2022.


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