Name: The Premier Group
Industry/sector: Manufacturing and engineering
Date founded: 1992
The boss: Wayne Woolford
Location: West Midlands
Latest turnover: 14.6m
Three-year compound growth rate (%): 38.61
Latest EBITDA: 2.8m
The company, which was established in 1992 with the founding of Premier Sheet Metal, has become a market leader of bespoke metallic prototype parts, assemblies and solutions for an enviable roll call of bluechip clients spanning the international automotive, aeronautical, rail and defence industries.
“When the recession hit, I doubted we would even be here today,” admitted founder Denis Meagher. It was a truly horrific time for the company ? we lost five contracts in two weeks and everything just seemed to stop. Now I have a really strong feeling of pride and excitement about the future.
The Olympic Torch contract served to highlight the manufacturing skills available in the Midlands, and more importantly those in Coventry at The Premier Group. It enabled the company to expand and invest in the latest technology, which in turn helped attract more high-profile customers.
The business has since expanded into a plant in Walsgrave, creating an additional 50 jobs and investing more than 500,000 in laser equipment. And bosses say there is still more to come. The company aims to create up to 100 new jobs within the next two years and aims to invest between 4m and 6m in growing the company even further with the possibility of a third base in the Midlands.
These are great times for the business,? Meagher said. We have been through the recession and survived and now it is time to build the business up and expand. The Premier Group is in a fantastic position right now and I think there is a strong possibility that we can make a major investment in the business. The banks are being more supportive and the company has a very good reputation.
The company is also of the belief that it has a responsibility to contribute to the local community by offering a range of apprenticeships. Some 22 apprentices are currently enrolled on The Premier Group’s apprenticeship programme.