An aviation engineering firm based in Bedwas has spoken of its excitement for the future after it was named the fastest growing company in Wales.
AerFin Ltd, based on Bedwas House Industrial Estate, topped the recently published Fast Growth 50 list after it achieved growth of 1,044% between 2013 and 2015, generating more than £17 million of additional turnover during this period.
The company, established in 2010, specialises in providing airlines with used aircraft parts and engines.
The business operates over two locations and is headquartered in a 105,000 sq ft former General Electric Aero Engine Services facility in Bedwas, where it provides engine leasing, engine disassembly, engine-part sales and technical services.
In Crawley, West Sussex, which is near Gatwick Airport, AerFin provides sales of used airframe components and other ground services.
The company sources most of its parts and engines from retired aircraft which they strip down. Anything that cannot be reused is disposed of in an environmentally-friendly way.
At a recent awards ceremony, held in Cardiff to mark the Fast Growth 50, the company was also named fastest growing international company, fastest growing mid-to-large company and fastest-growing business-to-business company.
Bob James, Chief Executive of AerFin, dedicated the award wins to its staff, customers and suppliers.
He said: “We’re delighted to have received this highly-prestigious award which is recognition of the hard work and efforts of all staff.
“It’s particularly pleasing to be at the heart of a thriving Welsh aerospace community and we’re all excited about the immediate and long-term future.”
The Fast Growth 50, award which was established in 1999, has become the award that entrepreneurial businesses across Wales aspire to.
Professor Dylan Jones-Evans, founder of the Wales Fast Growth 50, said: “This Caerphilly-based business is an excellent exemplar in so many ways to other businesses across Wales looking to grow and develop.
“More importantly though, it is a firm that is selling 60% of its business internationally and is a shining example of how Welsh firms, by internationalising, can thrive even in the most uncertain economic environment and I look forward to reading more about their continued growth over the next few years.”
Agency Focused Recruitment, based near Ystrad Mynach, was also placed on the Fast Growth 50, at 42, after it grew by 641.8% between 2013 and 2015.