A rapidly-growing timber fixings company plans to double its turnover to £10m within five years following a management buyout.
Wirral-based Laserfix, bought by managing director Brendon Kenny in a £500,000 deal at the end of 2002, will break through the £5m turnover barrier this year, a 30% increase on the previous year.
Mr Kenny, a former YTS trainee with the company, is targeting mainland Europe as a big growth area, especially for sales of the Laser Stealth clip, a nail-free fixing for timber decking, for which it holds sole European distribution rights. A recent deal saw the sale of up to three million fixings to a German distributor.
Laserfix, formerly Turners Trading Company Ltd, has built up a sizeable own-branded pre-packed fixings business for the merchant trade, claiming a 20% market share for pre-packed nails. It distributes more than 50 million fixings each month.
Mr Kenny said: “The market is wide open in fixings. A lot of the big players have seen consolidation and their service levels have dropped.”
He said growth may also include acquisitions. Laserfix will use the 2003 DIY & Garden show on January 26-28 to launch a rotary stand for displaying its products at merchants.
