Staff at President Engineering Group have celebrated three years of growth, during which the company has increased employment by a third and pushed up turnover and international sales even further.
The Sheffield group was launched in 2010 following a management buyout of cryogenic valve specialist Bestobell Valves and international mining safety equipment manufacturer Conflow from the Flow Group.
Since then, the workforce has increased from 86 to 115, turnover has increased by almost 40 per cent and international sales are up by 37 per cent, achieving major growth in new markets in China, Finland and South Korea.
The group’s Conflow subsidiary has also entered new markets in Indonesia and Brazil, following its acquisition of Derbyshire-based coal monitoring equipment specialist Bretby Gammatech last year.
Group managing director, Mark Henley, said: “It has been an exciting three years and our success is down to the dedicated team we have here in Sheffield.
“We have invested in new equipment, including re-organising our manufacturing facility in Sheffield so we can produce higher value Bestobell valves here. We have also expanded our technical team to help reinforce our world class capabilities.
“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.
“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.”
President Engineering’s management team was named regional International Impact Management Team of the Year in the British Private Equity and Venture Capital Association awards and finance director Marie Cooper won the national award for Finance Director of the Year in the FD Excellence Awards earlier this year.