Goodfellow targets acquisitions to expand globally
The company, which employs 140 people across its HQ in Huntingdon and sites in Europe, Asia and the US, has targeted increasing sales to more than £30 million through a combination of new material ranges, organic growth and targeting potential companies that add new capabilities, additional products or geographic reach.
CEO Simon Kenney believes last year’s investment in a cutting-edge ERP system and the launch of an intuitive new website will be key to achieving these aims. It also intends to tap into significant demand from customers in medical devices, battery development, space exploration and electrification and fusion technology globally.
Kenney outlined his firm’s ability to provide 98 per cent of materials in 48 hours as a major differential and a factor he wants to build on.
“2024 was all about laying the foundations for growth this year, from enhancing operational performance and the customer journey through our digital transformation project to the strategic purchase of Potomac Photonics,” said Kenney.
“The latter represents our first US manufacturing facility and gives us microfabrication capabilities that we didn’t previously have and is the type of deal we want to do more of over the next 12 months.
“The UK market has been challenging this year, not just for us but for other businesses in our area of expertise. International sales are where we see the big opportunity, with customers now present in more than 60 different countries.
“For example, a new distribution agreement with MicroPlanet in 2024 is projected to boost turnover in the Iberian market by 50 per cent alone.”
Goodfellow, which received an investment from Battery Ventures in 2021, supplies a comprehensive range of metals, alloys, ceramics, polymers, compounds, and composites. The company has built a strong reputation as a trusted supplier to firms involved in R & D, advanced engineering, space and the scientific sector, with subsidiaries across Europe, North America and China helping it extend its global reach.
From its HQ in Cambridgeshire, the material specialist also provides a range of post processing facilities, including rolling, electroplating, sputtering, heat treatment, disk punching/turning and guillotining/sawing.