Mick steers NSL on to a new record.
A FAST-growing remanufacturing firm has reported record end of year figures - smashing its target three years ahead of schedule.
Coventry-based NSL Automotive Components, which specialises in the remanufacturing of steering systems, has gone from strength to strength since its acquisition two years ago by former apprentice Mick Parsons.
In its first year the company was rebranded and under Mick's leadership broke through the PS1million-a-year barrier - almost tripling its turnover in just 12 months.
Now the business has reported a PS1.5m turnover for its second successful year and is on track for further growth, with Mick optimistic the figure will rise to PS2.3m next year.
Mick said: "When I first acquired the business, I was optimistic that we could achieve these figures but my original business plan was to reach PS1.5m within five years. To have reached this target in just two years is absolutely fantastic and reflects the hard work and dedication of everyone at NSL.
"Turnover was PS347,000 when I took the company over in August 2013, but I always knew it had the potential to achieve so much more. In the last two years the business has gone from strength to strength and I have invested heavily to ensure that NSL is a leader in its field."
Since acquiring NSL, which was originally formed as Coventry Power Steering Specialists, Mick has significantly expanded the business, moving the entire operation to a factory unit on the New Inn Bridge Industrial Estate off Foleshill Road - three times larger than its previous base.
He has also invested PS103,000 in a range of new equipment to improve productivity and efficiency, grown his client base and expanded his workforce. This year, the business also became an award-winning venture after scooping the Small and Medium Enterprise Category of the Coventry Telegraph Business Awards.
And moving forward, Mick is determined to grow NSL further with some key acquisitions and by developing the export arm of the business, where he says there is huge potential for growth.
Recently, it was announced that the company had acquired neighbouring car parts firm Coventry Core Supplies in a six-figure deal which is expected to bring major benefits to the business.
The acquisition will provide the company with a competitive advantage as Mick will be purchasing his own core - effectively taking out the middle man - as well as supplying and selling core to other dealers and remanufacturers across the country.
NSL is |going from strength to strength under Mick Parsons' leadership