Thu, 31 Oct 2013 | MBO/MBI
President Engineering Group is celebrating three years of growth after the business was formed by a management buy-out deal in October 2010.
Directors Mark Henley, Marie Cooper and John Waddington purchased cryogenic valve specialist Bestobell Valves, Bestobell LNG and the UK-based operations of mining safety equipment maker Conflow from the Flow Group, and formed President to take the acquired businesses further.
Located in Sheffield, President has since added 33 per cent more jobs, taking its staff numbers to 115 from 86, and grown its revenues by almost 40 per cent and international sales by 37 per cent.
It also purchased a niche provider of coal monitoring products Bretby Gammatech Ltd in November 2012, to expand President's reach in the coal market.
“Over the past three years, we have faced challenges, such as the decline in the domestic mining industry, but we have also seen major growth in international markets, which has opened up many new opportunities,” managing director Mark Henley said.
"We are very optimistic about the future and are seeing great potential in new overseas markets for both Bestobell and Conflow, which is reinforcing our position as one of the leading suppliers to the global energy markets,” he added.
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