A Leeds-based distributor to the international aerospace industry is scaling up its operation and pioneering innovation, with the purchase of approximately six acres of land to bring its office and warehouse space onto one site, laying the foundation for its new Innovation Hub.
Aeroservices operates in over 100 countries and offers a range of services including maintenance and new component development.
It recently purchased land in West Yorkshire to build its new Aviation Business Park and bring its UK warehousing, in-house maintenance operations and research and development (R&D) offering under one roof. The acquisition was supported by a funding package from Lloyds Bank to support Aeroservices’ next decade of growth plans.
The business is investing in a new ‘Product Innovation Lab’ where it will work on market-leading projects with the University of Leeds and other leading academia in the UK. More widely, its R&D work will focus on automation and robotics as the company looks to maximise productivity and efficiency in aviation sector.
Bringing its capabilities onto one site will allow Aeroservices to scale up its operations and sell more to other businesses directly. To support this, the firm is planning to invest in a fleet of electric vans for delivery, as well as triple its workforce over the coming years.
The business is also looking to invest in solar panels and other energy-efficient technologies for the new warehouse and office space, as part of its wider sustainability plans.
Mashood Akmal, CEO at Aeroservices Limited, said: “Innovation is at the heart of Aeroservices, so this expansion will help accelerate our research and development and place West Yorkshire at the centre of the aerospace sector map.
“We’ve been with Lloyds Bank from day one and following recent support to help us adapt during the Covid-19 pandemic, we were confident they were the right partner for our latest growth plans.
“Purchasing the new site is the first big step towards our wider Aeroservices Vision 2030, and Lloyds Bank has been instrumental in making that happen. We look forward to continuing to work alongside them as we build and develop our new Aviation Business Park.”
Tony Buchan, relationship director at Lloyds Bank, said: “We’ve supported Aeroservices since it was founded, and it’s great to be working together again, this time to support with plans to invest in its R&D offering and scale up its operations by bringing its various capabilities in-house.
“Aerospace is a key sector in West Yorkshire and the business is a great example of the leading innovators that are making the region their home.
“We’ll be by the side of the business from day-one to completion of this project, and beyond. And will be on hand to provide additional support, from new opportunities for growth through to advice around sustainability.”
