A Powys company that makes parts for super yachts is looking to expand in America.
The Newtown-based Makefast Group is looking to open a new site in Maryland only a year after its first due to “soaring demand” for its products in the USA.
The company designs and manufactures equipment for the marine and safety industries, as well as systems for super yachts and luxury boats including retractable sunroofs, awning units, and bathing platforms.
“Exporting is a fundamental part of our business and has played a key role in our growth over the years. The global market for luxury yachts and boats is huge and continues to grow, as in the case of the USA, offering plenty of opportunities for us,” said Chris Brown, CEO at Makefast.
(Image: Makefast)
“Establishing a presence there has helped us to connect with new and existing customers, enabling us to keep up with the growing order books of American boat builders. Sales last calendar year in the region reached $5 million, and we are forecasting for this year $6.25 million.”
Founded in 1974 by husband and wife duo, Bill and Brenda Brown, the company was originally focused on producing safety hardware for the marine industry, supplying some of the largest life jacket manufacturers in the UK including the Royal National Lifeboat Institution.
Soon after, it began expanding its product range to produce higher value items, and explored overseas markets as a means to grow the business.
Following soaring demand for its products in the USA, the company opened its first American headquarters in Maryland, and has since secured over $5 million in revenue from US deals alone since opening 12 months ago.
Exports currently account for two thirds of Makefast’s trade – equating to £1.2m year on year growth - with the company exporting to over 30 countries from its factory in Mid Wales, including Italy, France, Brazil, Taiwan, and the USA.
“We’ve been working with the Welsh Government for over 18 years now, and its export support has accelerated our international growth,” added Mr Brown.
“Thanks to its International Trade Opportunities programme, we’ve been able to access on the ground experts in new target markets like Taiwan, Dubai and India who speak the language and understand the business customs and etiquette, making it easier for us to concentrate on providing for our customers.”
Following a recent visit to Makefast, Jeremy Miles, Cabinet Secretary for Economy, Energy and Welsh Language, said: “Building a more dynamic and productive Welsh economy is one of my top priorities and SMEs like Makefast have a critical role to play in making that a reality.
“Makefast’s export growth and success is a real inspiration for other businesses across Wales. It was great to visit their mid Wales facilities recently and I’m delighted to have them on board as one of our Export Exemplars.
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