A WIGAN manufacturer and distributor of external wall insulation systems has been named the UK’s fourth fastest growing private company.
Golborne-based Wetherby Building Systems was today celebrating its sky-high position in the Sunday Times Profit Track 100.
The league table ranks Britain’s top private companies with the fastest growing profits and after appearing in the table for the first time last year, ranked 96, Wetherby has shot up the table after celebrating its best ever year.
A phenomenal 12 months has seen the company’s turnover rocket from £18.4m to £61m, with profits increasing by 125 per cent to £11.8m in 2012.
The company’s exceptional growth can be attributed to the government’s energy efficiency initiatives CESP and CERT, which were responsible for many housing associations and local authorities embracing the opportunity to refurbish their housing stock and with EWI a primary measure eligible under the schemes, the demand for EWI rocketed.
The successor to CESP and CERT, the Energy Company Obligation (ECO) scheme, launched in January 2013, also saw a flurry of activity throughout last year as large-scale housing refurbishment projects were undertaken across the UK.
As a result, Wetherby has provided its solutions to some of the largest ECO projects in the country, accounting for almost half of its turnover last year.
To maximise the ECO opportunity further, Wetherby also invested heavily in a new purpose-built training facility in 2013, which brought an increased revenue for the business.
ECO brought with it a significant increase in EWI projects and Wetherby recognised a need to ensure there were sufficient skilled trades professionals to meet this demand.
Managing director Bob Deane said: “It is such an incredible achievement for an independent company such as Wetherby to be the fourth fastest growing business in the UK.
“We have always concentrated on being the best at what we do and planning ahead is key to our success. When we anticipated the rise in EWI projects, that would come under the government’s energy efficiency schemes, we invested in our staff, facilities and training to ensure we were well placed to meet the demand and as such, we have reaped the rewards.”
Wetherby manufactures and distributes a wide range of external wall insulation (EWI) systems, polymer modified renders, silicone and acrylic thin-coat renders and brick slip systems for the retrofit market.
Wetherby’s insulated render systems offer environmentally sympathetic external façade solutions that have been installed on many domestic refurbishment projects, new build schemes, commercial buildings and educational establishments for over 20 years.