A HARTLEPOOL company is celebrated ten years of trading since a management buyout.
Bridgman Industrial Building Components (IBC), which is based on the Longhill Industrial Estate, in Hartlepool, went through major changes in 2004 after the company went into administration.
A management team stepped in and secured the firm which has kept more than 60 people employed.
Bridgman IBC is a leading UK manufacturer and supplier of fire doors, doorsets, glazed screens and washroom systems. Director Peter Bowes said: “The business now has three incumbent managers who have faith in the people product and the future of Bridgman IBC.
“We thank Tait Walker Local Accountants and Tilly Baily & Irvine local law firm who assisted in the MBO in 2004.”
He also thanked the economic regeneration team of Hartlepool Borough Council, and the support of banking partners Nat West & Lloyds TSB.
Since 2004, the firm has been involved in contracts with Glasgow City Council, with 25 schools in Devon and Cornwall, hospitals in Rochdale, Crewe, Bolton, Ormskirk, Bury and Wrexham, and with a supply chain partner in the Midlands
It also handled a contract to supply doorsets to the five-star Von Essen Hotel at Battersea Wharf.
But the company has also invested in itself.
Mr Bowes said: “Financially I would say we have invested in the region of £3.2m including £500k on research and development.”
Bridgman has invested in its own building, in machinery, in biomass heating and in training its workforce.
It has also got involved in the community by giving support for sports teams in Seaton Carew as well as management backing for the Prince’s trust, local school governance, public body volunteering, and council initiatives to promote employment.
Mr Bowes added: “We will continue our commitment to apprenticeships, sustained employment, more investment in machinery and training, and product development.”
Sales and finance director Tony Phillips said: “The last few years have been tough but the workforce have got behind us and we have managed to survive and we are looking to have a bright future.”