Company name: Romax Technologies
What they do: Automotive engineering specialist
The boss: Dr Peter Poon
Latest turnover (£,000): 13,148
Four-year compound sales growth (%): 33
Latest Ebitda (£,000): 1,013
Dr Peter Poon’s story is one of triumph over adversity. After a bad bicycle accident left him almost blind and unable to move, he whiled away the time developing ideas that he had not had the time to progress before. The ideas centred on computer programmes designed to help engineering designers. Good fortune helped him to a generous first contract from the US government, (“better than Venture capitalist money as there are no strings attached,” he comments) and Romax was up and running.
Now over 20 years old, the company provides engineering services and advanced software to 16 of the top 20 automotive companies, and the aerospace rail, and bearing sectors.
Poon states that growth has been consistent at 20 per cent but is set to increase. “Six years ago I reoriented the company towards renewable energy – wind turbine and reduction of carbon emissions for vehicles. We are three years ahead of other companies waking up to this market.”
More than 95 per cent of business comes from outside the UK, and the workforce is equally international in flavour – the UK office plays host to 15 nationalities. Latest figures show Ebitda of £1m and sales of £13m.
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