innovation 17 INNOVATIONPROFITS PATENT BOX R&D PROGRESS COLLABORATIVE ... continued
but it has become a turnkey supplier through its respected provision of manufacturing expertise, experience-backed know-how and sound advice. “They say this is the design we want; what do you think? We bring solutions to our clients, not problems.“
While Rimor monitors industry developments and continues to invest in the latest manufacturing plant and systems, it’s the process innovation, proven skills and engineering knowledge of its workforce that underpin its steadily growing order-book.
Mason is also aware that Rimor’s status – among the top-five UK niche subsea manufacturers and top-50 companies worldwide supplying the industry – demands competence not complacency.
The company is happy to acquire specialist skills and recruits astutely, not always from the engineering sector, but the talent-pool is not that deep. Such factors are a key reason that six years ago Rimor began growing its own talent.
Mason started as an apprentice himself, and fully supports on-the-job training with experienced
VES: . .. better air for the built environment
Hampshire-based VES manufactures its own innovative ventilation products and provides bespoke solutions and installations to UK clients owning premises ranging from supermarkets to swimming pools, factories to hospitals. VES also repairs, refurbishes or upgrades all types of air-handling equipment.
Turnover: 2013 c.£26 million. Previous year £22m
Staff: 234 (full-time) rising to 250-plus (seasonal demand)
History: Founded in Andover in 1968 by David Peters. Still a family-owned company. Relocated to Chandlers Ford/Eastleigh 2002. Offices in Manchester; Glasgow.
team was established. Feeney joined VES as a junior engineer in 2006, but gained vast R&D experience, and was brought onto the board in 2013.
“We reviewed our operations and discovered we were not maximising on our abilities and opportunities, not actually doing what we did best.“
VES used its own creativity and forward-thinking to rescue itself, with a fresh strategic approach and an innovative sales growth programme focused on just 35 key accounts.
Now, VES regularly exceeds its sales targets, hit its 2013 annual target within 10 months, and recently won three of the largest orders in the company’s 45-year history.
The corporate objective was to re-establish its industry credentials for authoritative knowledge, authentic quality products, and innovation.
Having helped pioneer heat recovery technology in the ventilation industry, VES committed the classic business error of sitting back on its laurels.
As the recession hit, VES product sales were tailing off and over the next two years a downward sales spiral set in. To save operational costs VES had scaled back and outsourced parts of its R&D.
“We had ridden a good sales-growth path based on our proven products, but forgot that this success was because of our company’s traditional focus on R&D and its ability to offer alternative, often innovative, solutions to clients,“ explained director Kevin Feeney.
The entrepreneurial flair and determination of the Peters family, notably directors Richard and John, woke VES from its inertia. A new management
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – OCTOBER 2014
Importantly, VES rebuilt its internal R&D team, notably including software engineers. “We went from virtually zero spend to £1m in two years.“ The R&D team studied industry leaders, learned quickly and adapted, made stronger working relationships with top suppliers and collaborated closely on product developments.
During this period, VES found its innovative niche – software for air-handling control systems and bespoke solutions for individual clients.
It also created an energy division to answer customer demand for energy-saving cost-efficient solutions. One VES product, Ecovent, reduces heat loss by 90%. You don’t get to work for the likes of Tesco without providing great products and solutions.
www.businessmag.co.uk
mentors. Rimor takes on apprentices from local colleges every year. “It’s the biggest, most successful way of expanding our skillbase. Seeing young people – our future – getting excited about engineering is fantastically rewarding.“
Rimor has created a forward-thinking innovative culture in which youthful creativity combines with knowledge-gained experience; a culture in which ability, of whatever age or gender, is recognised and used for the benefit of customers, and ultimately the company’s bottomline.
Growing global environmental concerns have also led to increasing industry regulation. “It’s now more important than ever for businesses to commit to regular, sustained research and development,“ says Feeney.
VES has always been an innovative manufacturer, but now it is also a respected industry consultant. “I think our present growth rate suggests that we’ve got things right. Some of our solutions are certainly seen as leading edge by end-users.“
Having struggled to find suitable engineering recruits, VES is keen to ’grow its own talent’. An apprenticeship and mentoring scheme is in the planning. “It will ensure a talent base is sustained to support our authoritative industry status.“
VES has recently been invited to become part of a EU six-nation research programme looking at advanced air handling systems. “It’s a fantastic opportunity for expanding our R&D capabilities.“
Look out for BDO’s mid-market review of 2014 at the end of the year
Details: James Tetley 023-8088-1874
www.bdo.co.uk
If you would like to see the full list of the 20 leading innovative mid-market companies, please contact:
danielle.bishop@
bdo.co.uk
INVEST
DEVELOPMENT
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