Specialist Machine Developments
Latest turnover: £128,766,000
Three-year compound growth rate (%): 43.83
Latest EBITDA: £6,972,720
Wallsend-based firm Specialist Machine Developments (SMD) is engaged in the design and manufacture of subsea trenching equipment, which includes submerged mining and marine renewables. Their profits had fallen from £4.8m in 2012 to £1.6m in 2013.
Andrew Hodgson, SMD chief executive, said: “In early 2013 the offshore renewables market stopped moving and this had coincided with a significant amount of investment we were putting into our products.”
However, they are now back on the growing track.
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