Sheffield insulation firm targets £200m turnover after rocketing sales during the pandemic
A Sheffield insulation firm is targeting £200m turnover after rocketing sales during the pandemic.
Galaxy Insulation and Dry Lining has grown from £14m-a-year annual sales in 2016 to £100m and 230 staff today.
It aims to open up to four new branches this year, taking the total to 13.
And if its rapid progess continues, it is on track to hit £200m sales within five years, according to Dan Turner, its sales development director.
At the start of the Covid-19 outbreak, Galaxy furloughed some staff and turnover dropped. But it quickly recovered and achieved record sales in the following months.
Mr Turner said: “We are listed as one of Yorkshire’s fastest growing businesses. We spotted a gap in the market for high service and genuine specialisms in the industry.”
The company, on Tinsley Industrial Estate, Shepcote Way, Sheffield, distributes insulation and dry lining products from suppliers including Kingspan, Rockwool and Ravago.
It secured a seven-figure funding package with a bank in October.