Compair's turnaround wins plaudits
A
CompAir UK product story
Edited by the Engineeringtalk editorial team
Dec 13, 2006
Leading UK manufacturer, CompAir, has been awarded 'Private Company Turnaround of the Year 2006' by the Society of Turnaround Professionals (STP) at a prestigious ceremony at London's Dorchester hotel
The award recognises the outstanding contribution to the UK economy of the country's top corporate troubleshooters.
A panel of ten independent judges from the UK business community selected CompAir, describing what the company has achieved over the last four years as "an outstanding turnaround".
CompAir won this award against strong competition from 17 nominations across many industries.
CompAir, headquartered in the West Midlands, is one of the world's leading manufacturers of compressed air and gas systems.
Its compressors, equipment and services are in use across the globe in a wide variety of industrial applications.
In the four years since its CEO Nick Sanders arrived at the company, it has seen unprecedented growth and success.
The company has been guided away from financial troubles and is now recognised as a top UK manufacturer, achieving double digit growth, putting it well ahead of the market rate.
Nick Sanders was presented with the award by Hamish McRae, associate editor of The Independent and principal economic commentator for The Independent and The Independent on Sunday, in front of more than 300 business leaders.
Nick Sanders commented: "This is a very important award for CompAir and to receive this kind of recognition reflects just how far we have come in the last four years".
"This is only one step on our journey and we will be redoubling our efforts to ensure not only the continued success of CompAir, but further recognition of UK industry's contribution to the global marketplace".
Nick Ferguson, Chief Executive of STP, said: "The awards enable the turnaround profession to be openly recognised for saving businesses and acknowledged amongst the wider business community as being an intrinsic part of commercial and public life - in the same way that the accounting, legal and management professions have long been regarded".
STP was established in 2000 as an independent body for turnaround professionals, including independent executives, accountancy and legal advisers and stakeholder representatives.
STP is supported by the Government, the clearing banks and other financiers, private equity investors and leading accountancy firms with the aim of ensuring that the highest standards of ethics, behaviour and quality are observed and adhered to by its members and the turnaround profession.
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