BOFA International was recognised as South West Mid-Market Management Team of the Year at the BVCA Wales and South West Dinner held last night at The Assembly Rooms in Bath.
The BVCA Management Team Awards is an annual showcase for the best businesses in the UK backed by private equity and venture capital, with the Mid-Market Management Team of the Year category open to all companies with an approximate enterprise value of between £20m and £100m.
Dorset-based BOFA International is a global leader in portable fume and dust extraction technology for a wide range of industries including laser, electronics, mechanical engineering, printing and 3D printing and pharmaceutical. The company has been making great strides in recent years, winning through innovation, quality and excellent customer service.
In 2015 BOFA secured a £23m private equity investment in an MBO and its rapid growth programme has seen year-on-year double-digit growth,18 months ahead of a five-year schedule, with revenues rising from £16m in 2015 to £27m in 2018. In September 2018, BOFA was acquired by global industrial filtration leaders Donaldson Company, Inc to help the company propel to the next level.
BOFA has a progressive management structure and has introduced development programmes to ensure the right people are in the right positions at all levels. The directors have also invested in systems, infrastructure and people. Headcount has increased by nearly 20% over the past 12 months to its current level of 261 and the directors always give careful consideration to the impact of any decisions on employees before they are implemented.
The company celebrated its 30th anniversary in 2017 and received the Queen’s Award for Innovation. In May 2018, BOFA opened its new HQ, including an advanced R&D centre, in Poole, increasing its UK footprint by 25% and providing employment opportunities in the local area.
Over the last two years, BOFA has also opened an office in Germany, added a business development function in Poland and significantly enhanced its US operation, BOFA Americas.
BOFA Managing Director, Tony Lockwood commented: “It’s an honour to achieve recognition for Management Team of the Year and it is a reflection of the hard work of every single person who makes up the BOFA team. As a management team, we are brave but not foolish; we respect one another for what we are trying to achieve and fully support those who work at BOFA who are on this journey with us.”