Name: AFGlobal Connectors & Sealing Technologies (formerly VerdErg Connectors)
Industry/sector: Manufacturing and engineering
Date founded: 1979
The boss: Richard Freeman
Location: South East
Latest turnover: £30.5m
Three-year compound growth rate (%): 59.41
Latest EBITDA: £6m
VerdErg Connectors is the former name of what has now become AFGlobal’s Connectors & Sealing Technologies.
The firm was founded back in 1979 and has a reputation as one of the early pioneers of Britain’s subsea engineering industry, and secured BP as a client in the 1990s.
The connections provided by the company have a number of different deployment options, all of which provide users with flexibility and fast installation speeds.
It said: “Our subsea connections and field support services ensure the reliability and versatility required, from the surface to the seabed.
“We directly manage the fabrication, installation and maintenance of our products to achieve the high standards of availability and reliability that are essential in remote marine facilities.”
The year 2002 brought with it an acquisition by INTEC Engineering, and in 2005 the company was renamed from Fuel Subsea to VerdErg Connectors when a management buyout took place.
Recalling the event, the company detailed: “The client profile and connectors product lines were expanded to a suite of five deployment solutions, with bespoke tooling, repair and aftermarket services. Offices opened on both sides of the Atlantic, and investments made into full in-house high pressure hydro, gas and mechanical testing facilities.”
Further growth has been supported over the past year, as the AFGLobal Corporation acquired VerdErg Connectors to rename it for the second time as AFGlobal’s Connectors & Sealing Technologies. It’s helped the firm achieve a CAGR of 59.41 per cent and a recent turnover of £30.5m.