Burnley-based refrigerated vehicle specialist CoolKit Ltd has announced that their revenues grew by 46% in 2016, reaching £10 million for the first time since it was established in 2005, and continuing a remarkable run of six consecutive years of year-on-year revenue growth of nearly 40% each year.
CoolKit also saw an incredible employment boost in 2016, with the number of staff growing to 75 full time positions, a growth of 54% possible thanks to a recruitment pledge to the East Lancashire Chamber Of Commerce. Many of the new roles were created to deliver the company’s strategic focus on bringing new innovations to the industry, together with a strong focus on super quality to maintain the reputation as the industry-leader for fridge van conversions in the UK. As well as this, some positions were created to provide further planned growth this year with new product launches and introductions into new markets.
Last year CoolKit saw major growth thanks to strategic market penetration tactics that enabled the company to introduce new contracts throughout the market sectors it specialises in. The relocation to new premises in January 2016 trebled the company’s manufacturing operations to a 45,000 square feet area, creating one of the UK’s biggest panel van conversion facility. The UK-based manufacturing operation can now host up to 30 fridge van conversions at any one time, allowing the company to meet the high demands in the market for superior quality and reliable refrigerated vehicles. With a dedicated retail sales team and specialised large fleet account manager in place, CoolKit were able to offer excellent customer service standards throughout the enquiry process of the growing customer base. This enabled further penetration within the small fleet market segment, where the sale of their stock of new and used converted fridge vans rose by 50% to 325 units.
CoolKit Managing Director, Rupert Gatty said: “Our 2015 investment of £2 million in machinery, premises and infrastructure is reflected in this outstanding performance. It is to the credit of the superb team of people here that we find ourselves in an enviable position.”
“Our performance completes a super year for CoolKit, during which we won the Specialist Converter of the Year Award from our major customer Lex Autolease, as well as our product winning the Technical Excellence Award for our customer AAH Pharmaceuticals at the National Motor Transport Awards.”
“We expect to build on our revenues by a further one third in 2017 with more investment into the innovations that distinguish us from our competitors.”
2017 is set to be another incredible year for CoolKit, starting with major local recognition by being shortlisted for four awards at the Red Rose Awards, a night dedicated to rewarding brilliant businesses in Lancashire, due to take place in on the 9th March.
CoolKit will continue to invest heavily in research and development, working closely with local schools, colleges and universities to grow its future workforce and create valuable jobs in the local area. Plans are in place to introduce major new products this year and develop further strategic partnerships with industry suppliers which will see unique benefits being passed on to their new and existing customers.