Icon flies the flag for private equity
A Midlands-based manufacturer has been ranked as one of the UK’s fastest-growing private equity-backed companies in the latest Sunday Times Deloitte Buyout Track 100.
The Icon Polymer Group designs and manufactures high performance, safety critical polymer-based components for aerospace, defence, transportation, power, energy and industrial markets, exporting across the globe.
The business, which includes Silentbloc UK, based in Burton upon Trent, has continued to win a series of major contracts, including components for international rail applications, a comprehensive range of fighting vehicles and many custom products for the European Fighter Aircraft and Joint Strike Fighter programmes.
Icon has been ranked 58th in the league table based upon its exceptional compound annual growth over the last two financial years.
Managing Director Tim Pryce said: “We are delighted to be recognised by this ranking which reflects the achievements of the management team, appointed in 2006, and the dedication and commitment of our employees.
“It is a great third party endorsement of the actions taken by the team to lead a business which is involved in traditional or ‘old world’ manufacturing into a new era of growth.”
He said that Icon Polymer had achieved its growth by focusing on its key markets of aerospace, defence and transport and understanding and anticipating customer needs to bring added value. “As well has having an excellent product and approval portfolio,” he said, “Icon has sought to bring added value for our customers through the manner in which we perform.”
Finance Director Shaun Finn added: “Icon Polymer continually reviews its cost base, listens to its customers and suppliers and above all delivers on its commitments”.
Developing a culture of continuous improvement and investment in business systems to enhance performance culminated in a management buy-out of the group in July last year, supported by Lloyds TSB Development Corporation.
