Poole-based BOFA International has been selected as the regional winner for Dorset in the High Growth Business of the Year category of the British Chamber of Commerce Awards.
The company is one of only nine regional finalists from hundreds of entries across the UK for this category and will now progress to the national finals.
BOFA underwent a management buy-out (MBO) in 2015 and, since that time, has grown to become a world leader in portable dust and fume extraction technology, making it an ideal competitor for this award. The High Growth Business of the Year category was open to businesses of all sizes and recognises those that have experienced exceptional growth in sales, profit, market share, jobs or international trade.
Since 2015, Tony Lockwood, Managing Director of BOFA International, has led a rapid growth programme that has seen year-on-year double-digit growth, with revenues rising from £16m in 2015 to £25m in 2017. Over the same period, EBITDA grew from £2.8m to £5m.
BOFA’s successful export-led strategy enabled it to double in size over the last 12 months and the company now exports 90% of its products to 120 countries. The success has also resulted in headcount increasing from 221 employees to 261 over the year.
BOFA will now go forward to represent Dorset in the national finals to be held in London in late November, when the national winners will be announced and one of them will also be crowned Business of the Year.