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Renishaw wins National Business Awards Mid-Cap title

Renishaw wins National Business Awards Mid-Cap title

Wednesday, November 09, 2011 | Posted by: Fiona Cullinan
Categories: Technology sector | Tags: business, Grant Thornton, UK, awards, National Business Awards, mid-market, mid-cap, winner, NBA, finalists, ceremony, National Business Awards 2011, Renishaw

It was a close-fought contest but last night Renishaw Group plc was crowned our Mid-Cap Business of the Year 2011 at the National Business Awards in London, “exemplifying great British business”. Renishaw beat nine other finalists in the Grant Thornton sponsored category. Here’s a first look at the winner …

All judges in the Grant Thornton Mid-Cap category ranked Cineworld, Majestic Wine and Renishaw in their top three. But it was Renishaw – a specialist engineering technologies manufacturer and retailer based in Gloucestershire – that finally won out for its exceptional innovation and export growth over the year.

Headquartered on the site of a former 19th century woollen mill, in scenic Wotton-Under-Edge, southern Cotswolds, the company is a world leader in measurement sensors and has also recently diversified into healthcare products, including innovations in 3D printing technologies to produce metal-based dental frameworks.

Renishaw was established in 1973 with a product that solved a technical measurement problem on Concorde’s engines and has since grown into a global plc with a turnover of £288.7 million and a sales growth in the current year of nearly 60%. In 2009 and 2010, it achieved substantial increases in turnover and profit, and is rapidly expanding into China. Exports now account for 95% of sales, supported by offices in 31 countries.

The judges described Renishaw as an ‘irreplaceable business’. It was also seen as strong on staff engagement and won kudos for creating a campus culture attracting more graduates into engineering and providing a breeding ground for continued innovation.

Ben Taylor, Renishaw’s Assistant Chief Executive, pictured collecting the trophy, said:

“We are delighted to win this award – it is recognition that UK manufacturing is alive and well. [Renishaw] not only makes a positive contribution to the economy but it also offers very rewarding careers, and we believe that more young people should look at apprenticeship and graduate opportunities within the manufacturing sector.”

Scott Barnes, CEO, Grant Thornton UK LLP, added:

“Renishaw is a great example of the UK’s impressive mid-market businesses. Bucking recent economic trends with strong growth, impressive export statistics and providing jobs and training to the UK market, Renishaw, and indeed all the finalists, are the companies that we see driving our economy. Congratulations to the team at Renishaw for exemplifying great British business.”

For further information and a full list of winners, visit the National Business Awards website. You can see Renishaw collecting the trophy on the live video page.

Image: © National Business Awards, 2011. From left to right: Mike Tobin, CEO, TelecityGroup (Winner 2010); David Maxwell, Partner, Grant Thornton; Ben Taylor, Assistant Chief Executive, Renishaw; and host of the National Business Awards, John Humphrys.