Record year for Tad firm
A Tadcaster-based engineering firm has announced new ownership as the business celebrates a record-breaking year.
Richard Byfield, John Denton, Iain Leedham, Paul Rose and Kevin Wheelock have taken the reins at Tadweld, heralding a new era for the firm, which was founded in 1978 to create steel structures for the town’s local breweries, businesses and farms.
The specialist engineering firm now works with some of the world’s largest businesses and brands – including Coca Cola, Britvic, Guinness, Nestlé, Diageo and Tetra Pak – designing and installing platforms and walkways for production lines.
The new owners have already seen positive results, with 2019-20 – their first full financial year at the helm – seeing a revenue increase of 23 per cent and a 97 per cent increase in profit.
The company saw a sudden spike in demand after the Government announced lockdown in March and food and drink manufacturers – who make up a large proportion of the company’s customers – installed new lines to increase production capacity.
Chris Joy, operational director, is on the board of directors with the new owners.
Tadweld’s new chairman and director Paul Rose – formerly an EY Entrepreneur of the Year for Manufacturing – 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.”