HRS Heat Exchangers has been recognised as one of the UK’s top 200 fastest-growing firms for international sales. The thermal technology specialist features in the 10th annual Sunday Times HSBC International Track 200 league table, which ranks independent UK companies according to their international sales growth over the last two years.
With an impressive 41 per cent international sales growth (annual average based over two years), global sales worth £20.7m (out of total sales of £28.3m) and 179 employees, HRS is ranked at number 161 in the prestigious league table, which has previously recognised such renowned brands as Aston Martin, Specsavers, Fever-Tree and Lush.
“Reaching this top 200 table is a very proud moment for all of my team,” says Steven Pither, Managing Director of HRS Heat Exchangers. “We’ve worked hard to build our international platform over many years and seeing our plan result in this kind of success is a very satisfying moment.”
Headquartered in Watford, HRS Heat Exchangers specialises in the design and manufacture of tubular, corrugated and scraped surface heat exchangers, for use in the food and beverage, pharmaceutical and environmental sectors. It has offices in the UK, Spain, USA, Australia, New Zealand, Malaysia and India, as well as manufacturing plants in the UK, India and Spain.
In order to meet the Sunday Times HSBC International Track 200 league table criteria, companies must be registered in the UK and be independent, unquoted and ultimate holding companies. They are ranked according to the compound annual growth in their international sales over the latest two financial years. Total sales must be at least £25m and international sales at least £1m in the latest financial year.
The league table was compiled by research experts Fast Track and published as a ten-page supplement within the business section of The Sunday Times on 10 February 2019 (also available on www.fasttrack.co.uk). Now in its 10th year, it is sponsored by DHL Express, Oracle NetSuite and HSBC.
Amanda Murphy, Head of Commercial Banking, HSBC UK, said: “We are delighted to back The Sunday Times International Track 200. The businesses it showcases have truly inspiring stories to tell about creativity, resilience and ambition to succeed. They are the kinds of enterprises we are thrilled to support and that provide the backbone of our economy, today and tomorrow.”
The HRS team is now looking forward to the International Track 200 awards dinner, taking place on 1 May at the London Hilton on Park Lane, where they will receive their official league table plaque recognising their achievement.
“Growing a successful business is always about good people, and a culture which involves listening to our customers and staff,” concludes Steven Pither. “We’ve proved our core competence, and I’m excited about the future, and the challenge to achieve our full potential.”