AESSEAL’s fellow group company, AVT Reliability, exceeded £20 million turnover in a 12-month period for the first time.
AVT Reliability is a full-service condition monitoring business. It has developed and owns world-beating Internet of Things technology and Machine Sentry Software, allowing remote monitoring of the health of industrial machinery worldwide.
Tony Gales, the recently promoted Head of AVT International said,
In 2019, when our Group had sales of less than £7 million and an EBITDA of less than £1 million, we set ourselves a Big Hairy Audacious Goal (vision) to create a £50 million condition-based monitoring business by the end of 2029. Exceeding £20 million in sales for the 12-month period to April, and the current growth trajectory of the business, means that the £50 million goal is much more of a vision than a dream.
The AVT Group’s growth has been driven via a combination of product and business development and acquisitions. Unusually for a company introducing innovative solutions into traditional industrial environments, its combination of reliability expertise and technology means sales growth and profits are high.
Chris Rea, the Managing Director of the AES Engineering Ltd. Group said,
The development of the AVT Group is key to our Group BHAG (vision) “To become the leading global reliability business, delivering solutions to help industry save water, energy, cut pollution and create a better world." As the vision is a 25 year one, it will take longer than my remaining life span as a business leader to achieve, but the journey remains both interesting and exciting.
