Fantastic sustained growth
Chris joined a manufacturing business in 1997 when it employed 20 people and had a turnover of $2M. The business had strong sales and technical leadership which lead it on a bumpy growth path. With financial systems in place, placated bankers and strong cash flow management the business grew at an average rate of 35% per annum for over 5 consecutive years. There was no private capital investment. All funding was from financiers and generated from profit.
In 2003 a greenfield factory was started in Melbourne to manufacture automotive components, and in 2007 another larger component manufacturer in Adelaide was acquired, as well as a toolroom in Detroit. Then foundations were laid to start a facility in India. By this stage there were 340 employees and turnover exceeded $60M per annum.
The key was solid forecasting and understanding the risks before they arrived.