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.