A family-run technology company is setting its sights on an ambitious growth plan that will see it target £30 million in sales.
Needham Group, which operates three specialist laser, coding and ink technology businesses, has launched an expansion blueprint which it hopes will see it more than treble revenues between now and 2025, with the possibility of creating 30 new jobs in the process.
Founded by Roger Needham in 1962, the firm is looking to achieve this target by boosting export activity across its three divisions, increased investment in marketing, extending distribution networks and developing capacity to take on more bespoke projects.
The Needham Group has grown from a regional distributor of marker pens in the 1960s to a diverse collection of businesses serving more than 30 different markets.
Needham Inks develops, manufactures and globally distributes inks, solvents and dyes that are used for a wide variety of applications, ranging from marking eggs or meat to high resistance solutions for automotive parts.
The management team, now led by managing director Aled Ellis and chairman David Needham, is also eyeing several strategic acquisitions that will allow it to increase its capabilities in its core technologies.
“We are continually talking about the fact that the UK does not commercialise enough of the amazing intellectual property we develop – well, we’re trying to change that with the launch of these latest expansion plans,” Ellis said.
“Over the last three years, we have invested more than £2m in creating the platform for this next phase of growth and this includes doubling the size of our HQ in Whitchurch, a number of acquisitions, increasing our R&D facilities and, importantly for the local area, taking our headcount to 70.”
He continued: “Whilst we are looking to transform the size of the business, we want to ensure we maintain our core values that encourage our staff to relish responsibility, be confident, yet humble and to always do the right thing, including understanding how we can leave a positive environmental impact on society.
“We want to be recognised as a great technology enabler, providing a way for amazing IP to be commercialised for the economic benefit of the UK.”
A dedicated R&D team are creating new digital wide format inks, whilst there is significant potential to position the brand as a reputable ‘alternative ink’ supplier to the mainstream market.
New products will play an essential role in the growth of Needham Coding Ireland, which will be responsible for selling the group’s expanding product range and technology solutions in the emerald isle.
Ellis added: “Our newest business division is Needham Laser Technologies, where we have been selling ‘The N-Lase’ Laser Marking machines since 2019.
“The focus is on sharing our excitement for British laser expertise in a way that creates lifelong partnerships and develops new innovative uses for this technology.
“Our solutions are already on display in industrial settings, manufacturing and retail and this is just the tip of the iceberg. We genuinely believe we could sell an additional 300 lasers domestically over the next three years.
“We are also targeting international expansion, with plans in place to create a global distribution network that could deliver up to £7m of annual revenue.”