Four Scottish companies have gone through to the next round of the British Private Equity & Venture Capital Association (BVCA) Management Team of the Year Awards 2018.
The winners will be automatically entered into the national final, the results of which will be revealed at the national awards ceremony at the Annual Gala Dinner on 29 November 2018 in London.
Aberdeen based Enermech was named as the winner of the Large Company Team of the Year.
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BVCA judges heard how EnerMech’s buy-and-build strategy, combining organic growth with selective acquisitions, had transformed the business from a small start-up equipment rental business 10 years ago, into a global enterprise which provides critical asset integrity and operations and maintenance support to the energy and infrastructure sectors across the full asset lifecycle.
Backed by private equity investor Lime Rock Partners, EnerMech’s broad suite of mechanical, electrical and instrumentation services allows it to provide a unique integrated offering to major international companies and in 2017 generated turnover of £365 million and EBITDA of £43 million, with 2018 revenues forecast to be in the region of £450 million.
The judging panel said: “This market leading growth has seen EnerMech significantly outperform the market over a 10 year period that included not only the global financial crisis but the worst ever prolonged oil and gas industry downturn.”
EnerMech CEO, Doug Duguid, said: “I am delighted that our vision of creating a sustainable, long-term business, which employs 3000 people in 40 locations, has been recognised.
“We will continue to make significant investment in systems and in our people to ensure the business runs efficiently and reaches its full potential. Our ambition is to grow the business to £1.2bn of revenue in the next five years and that will be done by harnessing the proven strategy of organic growth and carefully-selected acquisitions.
“Continually delivering a high quality of service in heavily regulated sectors has been key to our success in entering new markets and geographies and we will replicate that model to achieve the next phase of our growth story.”
Read more about Enermech here
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John McGavigan, backed by Maven Capital Partners, was selected as Mid-Market Team of the Year.
Founded in 1861, Bishopsbriggs-based plastics company McGavigan makes printed and decorative plastic components and assemblies for the automotive and industrial market.
Employing 240 people at its manufacturing operation in Glasgow, from a total of 500 staff globally, McGavigan now exports to 16 different countries across the globe ranging from Spain to Slovakia and Czechia to China. The company recently started exported to Malaysia and Japan, with Asia a key region of long-term growth. International sales now account for 80% of McGavigan’s turnover.
The company has grown exponentially in recent years, quadrupling in size since 2009. Its international success has led to jobs creation both in Scotland and in key growth markets.
Read more about John McGavigan here
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Incremental Group, also backed by Maven Capital Partners was selected as Growth Management Team of the Year.
Neil Logan, CEO of Incremental Group said “It is terrific to be recognised by the BCVA as the Scottish Growth Management Team of the year. Over the last 2 years we have grown from just 3 people to over 120 and that growth has been possible thanks to the support of our private equity investors, Maven Capital Partner and the Scottish Investment Bank. This award is a welcome recognition for the contribution that everyone at Incremental has made to our growth thus far.”
Read more about Incremental Group here
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Cyberhawk Innovations was named the Venture-backed Management Team of the Year.
Backed by Scottish Equity Partners (SEP) and the Scottish Investment Bank (SIB), Cyberhawk is a leader in asset management using unmanned aerial vehicles (UAVs) and sophisticated cloud-based software. The company was presented the award after judges recognised its strategic growth success, on an international level, and its “game-changing” visual asset management software, iHawk.
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Chris Fleming, CEO at Cyberhawk said: “The Cyberhawk management team is thrilled to accept this award, which is testament to the hard work shown daily by the entire Cyberhawk team.
“Our performance to date has been outstanding and we have already added six key people to our team this year, with further recruitment ongoing. We have expanded our global footprint, achieved world-firsts across numerous industries and we continue to significantly invest in the development of iHawk. We are particularly pleased to see the BVCA recognise this industry-leading software platform and its potential for the future.
“The support we have received from SEP and SIB has been fundamental to iHawk’s commercial development, and has also played a key role in propelling Cyberhawk into its next phase of growth.
“We are delighted with the evening’s results and I am extremely proud of the entire team for its continued enthusiasm and commitment to the company.”
Read more about Cyberhawk Group here
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