Name: Severn Glocon
Industry/sector: Manufacturing and engineering
Date founded: 1957
The boss: Colin Findlay
Location: South West
Latest turnover: £94.4m
Three-year compound growth rate (%): 36.89
Latest EBITDA: £15.7m
Valve engineering specialist Severn Glocon was recently awarded a Queen’s Award for Enterprise, International Trade for the second time in four years. The award recognised the British manufacturer’s three-year trajectory of continuous growth in overseas sales, the judges said.
Between 2010 and 2012 international trade increased by 120 per cent, and now represents 68 per cent of total Group turnover.
Growth has been accelerated by acquisitions of UK firms specialising in subsea and butterfly valves. New developments in Australia, China, Brazil, India and Iraq also played an important role. Australia has seen significant growth, with the group earning “top three cryogenic valve manufacturer” status and securing several landmark LNG contracts.
Severn has continued to invest in its facilities and infrastructure. Advancements include the relocation of established plant division Severn Unival to a purpose-built £2.5m premises in Brighouse, significant expansion of manufacturing facilities in India and the installation of high-capacity cryogenic testing at Gloucester.
A Regional Growth Fund grant facilitated the opening of a Valve Innovation Centre at the Brighouse site. This represents one facet of an enhanced focus on research and development which helps the group compete more effectively with larger US corporations. Switching banks enabled the company to benefit from government lending schemes and make new bonding facilities which provide flexible funding for international trading, Severn said.
“The past three years have been the most dynamic in our 53-year history,” said CEO Maurice Critchley. “Many different strands of activity have come together, driving significant growth and success.”
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