A Glasgow-based boiler specialist is eyeing expansion into the English market as the company heads for another year of rapid growth.
Directors of James Ramsay have put a move into the boiler installation and repair trade in northern England on the agenda at the company after it grew sales by around 50 per cent in the latest year.
Chief executive Raymond Shepherd said the industrial heartlands of northern England could be a lucrative hunting ground for the firm, which specialises in the complex boilers used in places like factories and universities.
He said the company may also consider making acquisitions to help make the most of its growth potential.
Mr Shepherd believes the company is well placed to expand after enjoying a strong run in Scotland since winning backing from Nevis Capital in August 2013.
The private equity business founded by the Pirrie brothers acquired a majority stake in James Ramsay in what is believed to have been a seven-figure deal. Nevis backed a buy-out led by Mr Shepherd.
James Ramsay increased sales to £3.8 million in the year to March, from £2.5m in the preceding period.
Mr Shepherd said the firm won work from public and private sector clients during the year although there was a lull in the market in the run up to the referendum on Scottish independence held in September.
The new business included a £1m contract James Ramsay won from the Scottish Prisons Service. The company has been doing refurbishment work on boilers in seven prisons.
It also won work from Wiseman Dairies and the Norbord wood-panel production business amid a period of growth in the private sector economy.
Mr Shepherd said the trading outlook is good.
"There's a real upturn there," he said.
James Ramsay is on course to grow turnover to £5m in the year to March 2016.
The company has invested in boosting capacity in readiness for winning more business.
It recently moved into a bigger base in Queenslie, twice the size of its previous home in the area.
Staff numbers have increased to 35 since the buy-out, from 25.
The company has been taking on young apprentices.
It has also taken an innovative approach to ensuring it gets enough skilled staff.
Mr Shepherd said the firm had taken on "older lads" who may have worked in the industry without gaining the qualifications James Ramsay wants and put them through two year college courses. One trainee was 28 when he joined the firm.
"These are people who think they have probably missed that opportunity. We have taken three that route and we get a lot from them," he said.
Mr Shepherd said Nevis had played an important part in helping the firm accelerate growth. "They brought some good ideas on how to market the business and fantastic systems."
The Pirries launched Nevis after they sold LCH Generators to Speedy Hire for £62m in 2006.
Brian Aitken, a chartered accountant and partner in Nevis, said the firm is keen to do more deals at what seems to be a good time to invest in firms with strong growth prospects.
Nevis is in advanced talks about a deal that would result in a new business joining its portfolio.
Mr Aitken noted interest rates are low while banks are back supporting deals with sensible levels of debt. He said more business owners appear to be looking to sell stakes to fund growth or realise some of their investment.
James Ramsay was established in Govan in 1920 and won lots of work connected with the shipyards.
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