Private equity backed robotics specialist doubles turnover

Yorkshire robotics specialist Sewtec’s is reaping the rewards of its ongoing transformation strategy after seeing turnover more than double to a record £28m in the year to June.

Last April, the Dewsbury and Wakefield-based high-tech manufacturer announced its intention to increase turnover to £32m by 2023. With that target almost achieved in just 14 months, Sewtec is now aiming to deliver a turnover of £50m within the next four years.

During the 12 months to 30 June 2019, Sewtec increased its number of employees from 79 to 127 recruiting a range of additional skills and experience in engineering, manufacturing, project management, purchasing and sales.

The business aims to create a further 63 roles within the four-year timeframe, bringing its total number of employees to 190. Apprentices and undergraduates are key elements of this growth, it said.

Sewtec designs, manufactures, installs and commissions complex industrial automation systems for global blue-chip clients in the pharmaceutical, personal care, pet care, food and beverage and tobacco industries. More than 85% of the company’s sales are exports. Sewtec’s clients include Abbott, Nestlé, Procter & Gamble, Imperial Tobacco, Tata and Hershey.

Managing director, Mark Cook, said: “Although increasing sales are driving our excellent financial performance, they would not be achieved without everyone at Sewtec embracing the rapid, positive change that our transformation strategy is delivering.

“Our new £50m turnover target is ambitious and will be demanding. However, we believe it is realistic as it provides the focus for us to fully realise Sewtec’s tremendous potential as an increasingly preferred global player in robotics manufacturing.”

In the year to 30 June 2019, the company reported EBITDA of £9m.

Sewtec’s outstanding financial performance comes just under two years after a management buy-out in August 2017 backed by Leeds-headquartered private equity firm Endless.

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