LIVINGSTON-based, CB Technology, has unveiled plans to increase turnover to £25 million by 2025.
It comes after the company said “boosting its workforce” and “investing in equipment” saw revenues rise by 31% in the year to 31 March to £10.67 million, with profits soaring by 64% to £1.35 million.
CB Technology has saw its headcount grow from 47 in 2018 to 71 at present and introduced more efficient production methods, including cellular, flow and lean manufacturing techniques.
Turnover has more than trebled since 2015 when Maven Capital Partners, the Glasgow-based private equity house, backed a management buy-in (MBI) at the West Lothian business.
Now, CB Technology has signalled its intention to grow its revenues by continuing to broaden its customer base and through mergers and acquisitions (M&A).
John Cameron, CB Technology managing director, who led the MBI, said: “There’s a huge amount of hard work across the company that goes into producing financial results like these and I’m incredibly proud of our team.
“While other companies in our sector are growing in single digits or struggling to grow at all, our business has grown by more than 30% in each of the past three years.
“That’s thanks to our focus on working in partnership with our customers to fulfil their needs and responding to changes in their sectors.”