Friday, October 10, 2014

News: AESSEAL represents Rotherham in Top Track 250

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The continued growth in sales and profit has placed award-winning Rotherham manufacturer, AESSEAL, amongst the UK's leading private mid-market growth companies.

With global headquarters at Templeborough, AESSEAL is the world's fourth-largest designer and manufacturer of mechanical seals for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals. It enters the prestigious Sunday Times Grant Thornton Top Track 250 for the first time and has been ranked at 237th, mixing it with the likes of Aston Martin, Dr Martens, Nando's, Pret A Manger and Warburtons.

The league table is the sister publication of Top Track 100, which identifies Britain's 100 private companies with the biggest sales. Top Track 250 ranks the 250 next biggest private companies, which qualify for the league table provided either sales or operating profits have increased by at least 10% in their latest available accounts. It is compiled by Fast Track, the Oxford-based networking events and research company, which champions the UK's top-performing private companies and entrepreneurs.

AES Engineering Ltd, parent to the AESSEAL Group, reported its annual results for the year to December 31 2013 which showed that sales have increase by 11%, to £146.5m. After allowing for acquisitions and exchange differences the company reports that like-for-like sales growth was a healthy 7.4%.

The past year saw EBITDA (earnings before tax) rise to £24.6m. Activities in its key strategic market of oil and gas also grew, by 20% in 2013, building on the previous year's 26%. The Top Track list has profits at AESSEAL increasing to £19.1m.

The business was founded in 1979 by current managing director, Chris J. Rea, OBE and whilst he retains a majority interest and control at AES, international investor, 3i hold a minority stake. Having first invested in 1996 and increased its stake to 40% in 2007, 3i's latest financial results show that the valuation has increased from £79m in 2013 to £96m in 2014.

AESSEAL has previously been ranked in 2012's Buyout Track 100, which highlights the fastest growth in private equity-backed companies.

Even as it recognised for continued growth, AESSEAL is planning further expansion. It already employs more than 1,650 people worldwide, of whom approximately 650 are in the UK and Ireland and more than 330 in Rotherham, home to its Global Technology Centre HQ. The picture shows a selection of new starters at the Rotherham HQ over the last 12 months.

Land and buildings have been purchased on a site neighbouring the headquarters in Rotherham which could lead to the workforce doubling over time.

Also on the 2014 Top Track 250 is Ideal Stelrad, the boiler and radiator manufacturer which is headquartered in Newcastle but has a significant manufacturing base in Rotherham.

Returning for the first time since 2009 and ranked at 64, the firm has sales listed at £359.8m with profits increasing to £33.4m. In September 2013, Bregal Capital acquired Ideal Stelrad Limited whose boiler products are distributed under the Ideal Heating brand. It is also a leading European radiator manufacturer and distributes its products under the Stelrad, Henrad and Termo Teknik brands.

Will Oxley, practice leader for Leeds and Newcastle offices at Grant Thornton UK LLP, the title sponsor of the league table, said: "These mid-sized businesses are such an integral part of the UK economy. They continue to thrive and grow, often on an international stage and their achievements are rightly celebrated here in the Top Track 250."

Dropping out of 2014's Top Track 250 is Rotherham-based C.F. Booth, one of the largest independently run recycling companies in Europe, whose impressive profit increases had seen them rise to 91st in 2013.

AESSEAL website

Images: AESSEAL / twitter

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