Defence sector supplier Lightning Aerospace is on course for a record £3 million turnover after being the subject of a buy-out – and has signed up to a manufacturing collective as it seeks further sales growth.

The Coventry-based firm will break the £3 million barrier for the first time at the end of a milestone year which has seen it complete a buy-out by manufacturing entrepreneur Andrew Redfern.

Meanwhile, the firm has become the tenth to sign up to the Midlands Assembly Network (MAN), a group of sub-contract manufacturers, and is already settings its sights on inter-trading, sharing best practice and winning new business in the commercial, nuclear and marine sectors.

The company, which employs 32 people across its three sites in Coventry, supplies specialist fabrication and harnesses to the Ministry of Defence and is expecting to open up this demanding marketplace to other MAN companies.

Mr Redfern said: “We pride ourselves on our ability to do things differently so when the opportunity came to be part of MAN we jumped at the chance.

“Naturally, the new sales opportunities that will come from being part of the group was a major attraction, but we are also keen to tap into the knowledge of the nine other businesses when dealing with everyday issues.”