BARNSTAPLE-based Aero Stanrew has won the British Private Equity and Venture Capital Association award for best Middle Market Private Equity-backed Management Team of the Year for the South West. It will now progress to the national finals to be announced in June.
Aero Stanrew, which is supported by private equity house WestBridge Capital, designs and manufactures high integrity electromagnetic and electronic components and systems for "high reliability" markets such as aerospace, oil and gas. This win follows the company's recent Queen's Award for Industry.
Guy Davies, managing partner at WestBridge Capital and a member of the judging panel, said: "It's fair to say that Aero Stanrew is enjoying an exceptional period.
"We supported a management buy-out at the company just two years ago, since which time the management team has consistently and rapidly grown the business by leveraging off its deep customer relationships and entering new industry segments.
"The management team is confident of developing a business worth £50 million in the next two years.
"If its performance to-date is anything to go by, I see no reason why the team shouldn't achieve this."