Trumeter, whose product range includes the familiar yellow and black road wheels used by surveyors and architects, saw revenues surge nearly 17% in 2022 to £10.4m from £8.9m. Underlying profits reached a record high of £1.9m.
The company is on track to top £12m in revenues for 2023.
Chairman John Smith said Trumeter is growing its market share amid a post-Covid revival in industrial markets, and is benefiting from the launch of innovative products and technologies alongside investing £1.5m in components and finished goods to ensure efficient customer lead times are maintained.
Trumeter made three acquisitions in the US between 2011 and 2016, and John said the company is now back on the takeover trail, seeking businesses which have complementary product ranges or can help accelerate its growth by providing access to new technology, distributors and markets.
The group was founded in 1937 and was led for many years by the late Peter Weidenbaum OBE, whose son Danny is now its finance director.
Its design and product development activities are undertaken in Bury, Greater Manchester, where it also has its global headquarters and warehousing and distribution operations supporting customers and distributors across Europe, the Middle East and Africa. Manufacturing takes place in Penang, Malaysia. Trumeter also operates from six locations in the US.
Trumeter employs 180 people worldwide and is currently recruiting senior engineers to strengthen its Bury-based team in line with increasing demand and a focus on further product innovation.
The group specialises in the design, manufacture and distribution of measuring, counting and control devices.
Its product range includes meters, timers and counters, and equipment to measure the length of items such as rope, fabric, cable, wire, wallpaper and carpet.
Trumeter distributes more than a million products a year, supplying 2,000 customers in 50 countries across sectors including power, manufacturing, water and filtration and process control and automation.
John said there is particularly strong demand for equipment used for infrastructure development and cable laying, electric vehicle charging systems and the deployment of sanitising products in locations such as hotels.
He added: “There has been a positive shift in industrial markets since the pandemic passed, and the business has rebounded strongly as a result.
“Over the last 18 months, we have also invested more than £1.5m in components and finished goods to maintain lead times for a growing customer base.
John said Trumeter is gearing up for a major expansion of its operations in Bury, with a recruitment drive under way and plans to take additional space at its base in Pilot Mill later this year to accommodate the new staff and expand its product development, testing and laboratory activities.
