A Lancashire company which manufactures high-performance compression springs for motorsport, space and defence markets has set its sights on doubling in size in the next three years.
Melling Performance Springs, based in Lytham St Annes, is taking part in the Two Zero Scaleup Leaders Network, funded by Lancashire County Council.
Originally founded in 1996 as Performance Springs, the company faced administration in early 2020 and was purchased by Melling Engine Parts, based in Michigan, USA. It has since grown to £3m turnover, growing from 23 staff to 44, and has expanded into additional space next door to its facility.
The company is now looking to grow to £6m turnover by 2025-26 and become what managing director Crispian Knight describes as a ‘world class’ manufacturer of compression performance springs within the next 5-7 years, with the support of the Scaleup Leaders Network programme.
Crispian said: “It’s been a huge challenge to get the company back to where I believe it should be and the opportunity to now take it forward is huge. I think we will double in size in the next 3-4 years and outgrow our current location.
“There is a lot we need to do to get to that point and I have tried to seek help as part of that journey, including reaching out to Lancashire County Council’s scaleup support programme Two Zero.”
Crispian said he had also engaged with a number of other networks including manufacturers’ membership organisation Make UK.
Two Zero is a business support service for scaleup business leaders in Lancashire. Led by Lancashire County Council, its mission is to help Lancashire’s scaleup leaders learn, grow their business 20% and create jobs.
Two Zero’s Scaleup Leaders Network works with the owners and managers of fast-growing businesses in Lancashire through a combination of coaching and peer sessions, helping them to learn from other businesses on the programme over a 12-month period.
The Scaleup Leaders Network is delivered by Cube Thinking, a Lancashire-based high growth business consultancy which previously delivered Two Zero’s highly successful Scaleup Resurgence programme during Covid-19.
Melling Performance Springs has received support through the programme to improve employee retention, its supply chain and to develop a strategy for strong future growth.
John Woodruffe, director, Cube Thinking, said: “It has been fantastic working with Melling Performance Springs and the company is already benefiting from the knowledge gained through the masterclasses and peer group sessions.
“The company’s behaviours are now aligned with their scaleup ambitions and we’re looking forward to continuing to work with Melling Performance Springs through the Scaleup Leaders Network programme as they progress on their growth journey.”
Amin Vepari, programme manager, Two Zero, said: “I’m delighted that the Scaleup Leaders Network has been able to support Melling Performance Springs at a vital stage of the company’s growth journey.
“Lancashire has a strong manufacturing heritage and it’s brilliant to see our county’s companies aiming for world class status while employing local people and generating wealth.”