CCW RecoverySolutions secures sale of Lola Composites

A Kent firm has helped secure the future of a British manufacturing icon.

Tunbridge Wells-based CCW RecoverySolutionss ecured the sale of Lola Composites which went into administration nearly a year ago.

Lola Composites, a composite components manufacturer supplying the aerospace, defence, communications and automotive industries, has been reborn as Forward Composites Limited, following the deal negotiated by administrators Mark Newman and James Snowdon.

During the period of administration, CCW Recovery Solutions, part of national firm Crowe Clark Whitehill and based in Tunbridge Wells, continued to trade the business and completed around £3 million worth of orders, and during the 10 months of administration employed up to 100 people.

Lola Composites was struck by a bad debt from its sister company Lola Cars, which traded for more than 50 years and was at the cutting edge of British motorsports, and which also went into administration.

Mark Newman, Partner at CCW Recovery Solutions, said: “The sale is great news for the new management team, their staff and customers, and is an example of the work we undertake nationally. Once appointed as administrators we quickly developed a plan tosalvage the business which saw us consolidate the operations onto one site in Huntingdon in Cambridgeshire.

Mark Newman
Mark Newman



“Despite having to cut costs, which saw a number of people being made redundant, we have successfully secured a positive future for the business, ensuring the country retains this important manufacturing and technological capability.”

The new company, spearheaded by former Lola Cars commercial director Paul Jackson, as Managing Director, and his former colleague Ed Collings as Technical Director, will trade from the Lola Composites previous Huntingdon premises.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More