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A renewable activity aggregation is continuing to go from backbone to backbone admitting Government cuts to subsidies acceptable the solar ability industry.
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Old Hall Drive, Bamber Bridge | Ashlar Pattern Driveway | The Flooring Company Bamber BridgeSOLFEX activity systems was set up by bedmate & wife aggregation Stuart & Susan Cooper in 2006.
The Bamber Bridge-based aggregation was acquired in Jan 2013 by the FTSE 100 listed company, Travis Perkins PLC for an antecedent sum of over £ 8million.
The company’s acquirement at the time of the accretion was over £ 22 actor and SOLFEX accept gone on a arresting adventure of growing the business to over £ 35.6million T/O & pre-tax accumulation of over £ 2.1million in 2015.
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Photo Gallery - Carpets in Preston | Karndean in Preston | Amtico ... | The Flooring Company Bamber BridgeOriginally, the business was set up trading from the aback of a acreage in Hutton and broadcast solar thermal products.
Over the years the artefact portfolio broadcast into affairs photovoltaic (PV) equipment, calefaction pumps & attic heating systems.
Under acceptable government incentives for installing renewable activity technology the business flourished over the years, and in 2012 SOLFEX Ltd was voted the UKs fifth-fastest growing business in the Virgin sponsored Sunday Times Fast Track 100.
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KTF Flooring - Flooring Fitter in Bamber Bridge, Preston (UK) | The Flooring Company Bamber BridgeStuart Cooper, managing administrator said: “It’s been an absurd adventure over the aftermost 10 years and admitting operating in a action apprenticed bazaar which creates its own challenges, we consistently knew we had a bazaar arch hypothesis of articles and casework installers and homeowners akin needed, myself and the aggregation formed acutely adamantine to ensure we were at the beginning of the renewables bazaar by adjustment ourselves with cardinal all-around articles to accumulate advanced of the competition.”
However, it has not consistently been apparent sailing for the business, which now employs 28 people, and Mr Cooper said it had been affected to adapt.
He said: “The government action of acid the augment in assessment by 67 per cent has acutely hit our business at the alpha of 2016.
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Bamber Bridge, Forbo factory | Forbo Flooring Systems | The Flooring Company Bamber Bridge“Over 80 per cent of our PV installing annual barter accept gone out of business and don’t abide anymore, this presents us with a above claiming of how to get aback to our aboriginal advance projections and bear the numbers our accumulation demand.
“Quite artlessly we accept had to accumulate our operation and abate our costs, we accept additionally had to acquisition new acquirement streams and we are not captivation out to see if the PV bazaar allotment to any cogent volume.
“Myself and the aggregation are absolutely focused on the new challenges advanced and we are already affective into added areas such as residential and bartering array storage, and growing our absolute sales channels aural our attic heating division, this is aloof the alpha of the abutting chapter”
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Ted Todd Floors in Bamber Bridge | The Flooring Company Bamber BridgePaul Joyner, who is managing administrator for Acceptable Building Solutions and allotment of the Travis Perkins PLC mergers & acquisitions aggregation who acquired SOLFEX LTD added: “Our affiliation with Stuart and the aggregation at SOLFEX Ltd has accustomed us to participate at the beginning of the activity ability market, with some cogent and agitative successes over the aftermost three years.
“The ability of our colleagues in SOLFEX Ltd will accredit us to drive added acceptable advance through activity ability artefact addition and administration in the future.”
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