Tadcaster-based engineering firm Tadweld has announced new ownership as the business celebrates a record-breaking year despite the challenges presented by the COVID-19 pandemic.
Richard Byfield, John Denton, Iain Leedham, Paul Rose and Kevin Wheelock have taken the reins heralding a new era for the firm which was founded in 1978 to create steel and engineering solutions for the town’s local breweries, businesses. and farming community.
The specialist engineering firm now works with some of the world’s largest businesses and brands – including Coca Cola, Britvic, Guinness, Nestle, Diageo and Tetra Pak – providing innovative steel solutions from an unrivalled team of highly skilled engineers, installing time-critical platforms and walkways which are often the base for significant production line investment.
The new owners bring a wealth of manufacturing, operational and financial experience and are already driving positive results with 2019/20 – their first full financial year at the helm – seeing a revenue increase of 23% and a 97% increase in profit. As well as driving positive financial results, the new team has led on a rebrand of Tadweld including a new logo and a brand-new website which launched earlier this month.
With a large proportion of Tadweld’s customers being in the food and drink sector, the company plays a vital role in these supply chains and has continued to operate throughout the COVID-19 crisis wherever safe and possible.
The sudden spike in demand experienced by these sectors when the UK government announced lockdown in March meant that Tadweld worked closely with its key customers to install new lines and increase production capacity, keeping supply moving in the industry.
Chris Joy, Operational Director who has been an integral part of the Tadweld team for more than 25 years, sits on the board of directors along with the company’s new owners.
Tadweld’s new Chairman and Director Paul Rose – formerly an EY Entrepreneur of the Year for Manufacturing and one of Yorkshire’s leading businessmen – said:
“This fantastic business opportunity was brought to the team of investors by Richard Byfield who had known the previous owner and the business for many years. In a very short time, we have seen some amazing results, improving efficiency, growing revenues and increasing profits during a hugely challenging period for many UK manufacturers.
“The new board is excited to build on these encouraging results whilst retaining a firm commitment to working with our highly-trained specialist engineers to provide the innovative, practical solutions that have been the cornerstone of Tadweld’s success for decades.”
Tadweld has been a good news story for British manufacturing for many years, but its recent financial successes and its resilience in the face of the unprecedented economic challenges of the ongoing pandemic instils confidence that the business will continue to go from strength to strength.
Find out more about Tadweld Ltd on their member profile page here