TB Davies of Bridgend on the climb
May 21 2010 by Graham Henry, Western Mail
A SOUTH WALES manufacturer of airline maintenance products is aiming to double its turnover to £10m in the next five years as part of its ambitious expansion plans.
TB Davies UK is an offshoot of its Cardiff parent company, access equipment manufacturer TB Davies. It was established in 2002 and has since expanded to take on 85 employees and moved to an all-purpose headquarters in Bridgend.
Company projections show that the turnover of the firm is set to increase to £5m this year and the company plans to expand further to cope with demand on the back of increased export capabilities.
The firm also acquired the handling equipment manufacturer Owen Holland Engineering in August last year, which meant that the company became “one of the largest and well-balanced providers” of ground-support equipment.
Its existing product portfolio has grown to include passenger and crew boarding steps as well as maintenance steps used by many of the world’s international airlines.
Managing director Steve Meredith said: “The reason behind the excellent growth we have had is that we have got a very dynamic and young management team. We’ve also got a great deal of enthusiasm for the products and our business.
“We have deliberately built up a portfolio of products, both in the aviation and defence sectors and in other parts of the industrial markets, so we are adaptable to the market.
“We have acquired a site on Waterton Industrial Estate in Bridgend which is an excellent facility. But the site has scope to expand and increase our shop floor further – so it is very unlikely we would ever need to move again.”
The company plans to increase its workforce to 100 people by the end of the year. It currently employs 85.
At present the company has no flotation plans.
Mr Meredith said that almost all of the company’s growth has been organic and the aim is to continue growing the company “sustainably” and “responsibly” as a family concern.
“The TB Davies group as it is has already been through four generations – there is no change of mindset in that respect,” he added.
“Our turnover projection will be in the region of £5m for this year and I think within a five-year period we will be looking at doubling the size of the business. But we need to grow it responsibly and sustainably rather than look for huge, short-term growth.”
The company experienced strong growth through the economic downturn despite the recession hitting the manufacturing sector.
Mr Meredith said: “We have ridden out the recession quite well, although not at the end of it in the downturn in the manufacturing sector. But we have grown quite significantly during the recession and it gives me a lot of optimism.”
Recent growth has been fuelled by support from Barclay’s corporate arm, which has provided commercial funding and asset finance.
Rob Reid, Barclays corporate relationship director, said: “We have been able to provide innovative solutions to support TB Davies Ltd throughout its expansion.
“This further demonstrates that debt funding is readily available for the right propositions. It’s great to be involved with a South Wales manufacturing business, winning international contracts, exporting overseas and creating new jobs.”
Western Mail, May 21st, 2010 – View Story on WalesOnline Website
………………………………………………………….
Latest Brochure
Download our latest brochure – tbduk Brochure 2010
………………………………………………………….
Acquisition by TBDUK expands their Ground Support Equipment range
Strong growth has helped TBDUK, the ground support equipment manufacturer, to continue it’s business expansion plans with the acquisition of prestigious engineering company Owen Holland Engineering.
The company, which provides ground support and specialist access solutions to the Ministry of Defence and commercial aviation sectors has also seen incremental growth in the manufacturing and construction markets.
Managing Director Steve Meredith said, “The Company has put in an extremely strong performance against a backdrop of lower economic growth in many of our markets which has allowed this investment in the group”. Owen Holland has traded successfully since 1965 and manufactures a broad range of standard Dollies, Trailers, Static Stands and Storage Racks.
“This acquisition will make us one of the largest and well-balanced providers of ground support equipment solutions to a broad range of domestic and international markets.” added Meredith.
The existing product portfolio has grown to include passenger and crew boarding steps as well as maintenance steps used by many of the world’s international airlines. However, the company is also proud of its ability to tailor bespoke solutions such as aircraft docking staging to individual requirements using close customer consultation and the latest 3D modelling software.
Engineering Director Phil Summers added, “The addition of airport handling equipment to our access range will strengthen our long-term market position by offering customers a complete solution to our bespoke services.”
TBDUK is considering further investments and is currently looking at expanding its manufacturing capacity in South Wales. Meredith said, “Whilst production will move to our main Bridgend manufacturing operation to ensure production efficiency is maintained, we will make certain that orders are delivered on time and customers experience no disruption to supply during this transitional period.”
TBDUK is a part of the highly respected T.B. Davies family of Companies founded in 1945 by T. Bryn Davies. Specialists in Ground Support Equipment and Specialist Access Solutions for Major Clients predominately in the Aerospace and Defence Sectors.