Monday, April 9, 2018

News: Cooper & Turner's fast growing profits

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Historic global manufacturer, Cooper & Turner, which has significant operations in Sheffield and Rotherham, has been named amongst Britain's private companies with the fastest-growing profits over three years.

One of Europe's leading manufacturers of bolts, nuts and washers used in the energy, rail, construction and other engineering sectors is a new entry in the 19th annual Sunday Times BDO Profit Track 100 league table.

Cooper & Turner has facilities at its Templeborough Works in Sheffield and at Canklow in Rotherham, where the focus is on the wind energy sector.

With profits growing by an average of 57% a year to £9.2m in 2017, the firm is ranked at 86th in the table which is compiled by Fast Track, the Oxford-based networking events and research company, which champions the UK's top-performing private companies and entrepreneurs.

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The group manufactures its products in South Yorkshire, Pueblo, in Colorado, and Ningbo, in China, and international expansion has boosted sales to £52.6m.

In August last year, chief executive Tony Brown led a buyout backed by US private equity firm Watermill Group, which acquired a majority stake for an undisclosed sum. The aim was to uncover new opportunities and accelerate the company's growth in the booming international wind sector and beyond.

Cooper & Turner acquired the former home of Manheim Motor Auctions in 2012 and, to support further growth, a new extension was completed in 2013 to infill the space between the two existing units and create substantially more floorspace. As well as the Wind division, the site incorporates a 120,000 tonne stock holding facility and the group moved towards a full distribution network. Cooper & Turner and McLean Buchanan and Wilson (MBW) joined forces in March 2007.

Joseph and James Turner founded a gun barrel business in Birmingham in the 1800s. Having expanded the business into other areas, including rivet production, the company was amalgamated with Henry Cooper & Co in 1912.

Production was moved to Sheffield and the company continued to be successful, supplying products for a wide range of applications including battleships and Ford's Model T cars. Recent projects have seen its products used in the construction of the Burj Khalifa in Dubai and the redevelopment of Liverpool FC's Anfield stadium.

Cooper & Turner website

Images: Cooper & Turner

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