President Engineering celebrates international success since MBO
STAFF at President Engineering Group have been celebrating the company’s continued growth, including its success in international markets, since its management buyout three years ago.
Since Mark Henley, Marie Cooper and John Waddington’s MBO, the group has created 33% more jobs, increasing its workforce from 86 to 115.
The group had a turnover of £19.4m last year and is set for £23m this year, while it said international sales grew by 37%.
The MBO, which took place in October 2010, involved the new company President Engineering Group buying out cryogenic valve specialist Bestobell Valves and international mining safety equipment manufacturer Conflow from the Flow Group.
Mark Henley, managing director, said: “It has been an exciting three years and our success is down to the dedicated team we have here in Sheffield. We have invested in new equipment, including re-organising our manufacturing facility in Sheffield so we can produce higher value Bestobell valves here.
“We have also expanded our technical team to help reinforce our world class capabilities. Over the past three years, we have faced challenges, such as the decline in the domestic mining industry, but we have also seen major growth in international markets, which has opened up many new opportunities.”
He added: “We are very optimistic about the future and are seeing great potential in new overseas markets for both Bestobell and Conflow, which is reinforcing our position as one of the leading suppliers to the global energy markets. There are huge opportunities for us in the marine industry in particular and we are looking forward to developing both our product range and our overseas markets in the coming months.”
Over the past three years, President Engineering has seen major growth in new markets, such as China, Finland and South Korea.
The group’s acquisition in 2012 of Bretby Gammatech, a coal monitoring equipment specialist, based in Derbyshire, has opened up new opportunities for its Conflow business to enter new international mining markets, such as Indonesia and Brazil.
Bestobell Valves is an internationally renowned manufacturer and distributor of cryogenic valves for use in the industrial gas and liquefied natural gas industries, while Conflow manufactures dust suppression, fire suppression, and water control equipment for mining industries, supplying mainly international markets.
President Engineering Group has recently acquired Bretby Gammatech, a coal quality monitoring company which specialises in ash monitoring.
Bretby Gammatech has pioneered technology to produce an innovative and safe method of measuring the ash content of coal which does not involve radiation.
