Tharsus to increase capacity as it completes £3m investment
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Tharsus Group has announced further significant investment in its design and manufacturing facilities in Blyth as 85% revenue growth reported for 2018 reflects the global opportunities that it has developed.
Autumn 2019 will see the Group quadruple manufacturing capacity for advanced machines and robots (AMRs), as it completes a £3m move to new headquarters. This establishes a world-class design, development and New Product Introduction facility in the Group’s home town of Blyth, Northumberland. The move is in direct response to significant revenue growth across current customers, as well as increased capacity to meet demand from new customers.
The Group comprises of Tharsus, a full product design, manufacture and aftermarket servicing company which works with customers to design and build AMRs and its sister company Universal Wolf, a leader in complex fabrication.
Group revenue increased by 85% to £51.2m (2017: £27.7m) with Tharsus providing the majority of the increase as its revenue increased by £23.0m.
Universal Wolf has benefited from a rebranding exercise during the year as its revenue increased by 22.4% and it became established as the new disruptive brand in its sector. To support growth, Universal Wolf also invested £590,000, mainly in plant and machinery.
A company spokesperson said Group EBITDA of £1.0m was similar to the prior year reflecting the investment decisions made in the year to pursue the growth opportunities. Investments have been made in additional colleagues and infrastructure to ensure that the business continues to manage such growth effectively.
The Group’s leadership team has also been added to over the last 18 months, with Gerard Murray (Chief Financial Officer), John Toal (Business Development Director – Tharsus), Alasdair Waugh (COO – Tharsus) and Patrick MacDonald (Managing Director – Universal Wolf) joining the business.
Overall headcount has risen from 216 to over 300 today, with new talent adding experience and capability to every specialist area of the business with the investment strategy reflecting accelerated demand for Tharsus designed and manufactured AMRs.
Universal Wolf is preparing for continued future growth through the imminent introduction of a second factory in 2019, which will almost double their footprint from 35,000 sq ft to 68,000 sq ft.