Tuesday, October 28, 2014

News: Rea named amongst UK's top entrepreneurs


Chris Rea OBE, the founder and current managing director of award-winning Rotherham manufacturer, AESSEAL has been named in a list of the Top 100 entrepreneurs in the UK by an influential business magazine.

Targeted at senior managers in business and the public sector, as well as entrepreneurs, Management Today is regarded as one of the most authoritative and innovative media brands covering the business and management area. This is the ninth time the publication has compiled a list recognising Britain's most successful entrepreneurs "in everything from cloud computing to metal bashing."

The rankings take into account the entrepreneur's own or their immediate family asset wealth, the percentage growth in turnover at their firms over the past five years and the percentage growth in the jobs they have created in the past five years.

Whilst Victoria Beckham tops the list, Chris Rea is ranked at number 59, with the compilers putting his wealth at £160m, the impressive growth in turnover over the last five years at 74% and a five year rise in employment of 38%.

Born in Northern Ireland in 1954, Rea graduated from Queens University Belfast in 1975 with an Honours Degree in Economics. He took on AESSEAL in 1979 when it had just eight staff. It is now the UK's last remaining, and the world's fourth largest, mechanical seal manufacturer, with 1,700 employees and operations in 77 locations in 37 countries.

With global headquarters at Templeborough, AESSEAL manufactures seals to stop leakage of harmful liquids and gases into the environment for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals. Under Rea's entrepreneurial leadership, the firm has grown sales and profits every year for over 30 years.

The group's 2013 sales were £147m, with exports accounting for more than 90% of the total. All of the product development, process development, information technology and more than 90% of manufacturing continues to be based in the UK.

Whilst Rea retains a majority interest and control at AES, international investor, 3i hold a minority stake, having first invested in 1996 then increasing its stake to 40% in 2007.

As AES continues to grow, investing in new facilities and taking on more staff, Rea's latest role has seen him appointed as the interim managing director of Surgical Innovations Group Plc (SI), the Leeds firm that specialises in the design and manufacture of creative solutions for use in minimally invasive surgery (MIS) and industrial markets.

AESSEAL website
Management Today website



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