The latest report on the mezzanine market by leading industry analyst, Plimsoll reveals MiTek as the UK’s top supplier for the seventh consecutive year.
MiTek achieved a staggering 74% sales growth in 2021, securing turnover of £45.7m. The figures give MiTek a 28% share of the UK mezzanine market – up from 20% the previous year – with the nearest competitor securing 10%.
“This is fantastic news,” comments Matt Loveday, Managing Director. “We are delighted to have retained our position as UK market leader in what was a challenging year due to supply chain difficulties. The results are testament to the talent and commitment of our team and our trusted partners.”
Following a successful 2022, MiTek is confident of retaining its crown for the eighth time this year. “We began 2022 with a fantastic order book,” says Matt Loveday, “and over the year we installed around 1.25 million sq m of mezzanines across Europe. We achieved a record month in May – notching up our largest ever single month of revenue – and we ended the year with a promising pipeline of orders.”
Notable orders secured last year include the first project for a particular global integrator. Due to be installed this summer, the multi-level 26,000 sq m mezzanine ranks as one of MiTek’s all-time top 5 projects in terms of revenue. “It’s pleasing to note that this integrator decided to partner with us because of our technical expertise in response to what is an extremely complex project,” adds Matt Loveday. “However, the first project off the blocks this year is a mezzanine solution for an existing customer, Noatum. This month we are starting work on site at their new warehouse in Bedfordshire, which will be used to serve a major international fashion brand.”
Despite the challenging economic outlook, MiTek’s management remains optimistic about the company’s business strategy of continued growth. “We have an established base in central Western Europe,” explains Matt Loveday, “with MiTek Industries GmbH, located in Cologne. We see great potential in the entire European market over the next few years. To this end, we are building a complete operations team at our European base, which previously focused only on sales. We have more than doubled our European staff over the past 18 months and are still recruiting. We’re expanding into new markets and investing in local sourcing, with obvious environmental advantages. We’ll also be exhibiting at LogiMAT in Stuttgart in April.”
As well as more staff, MiTek has been investing in its processes and supply chain. “As we continue to focus on securing larger and more complex projects,” says Matt Loveday, “we are investing in business improvements. We have made enhancements to our in-house-developed mezzanine quotation and project-scheduling software, in order to make the design and quotation process even faster.”
MiTek has also invested in improvements to help underpin the company’s commitment to Safety, Health, Environmental and Quality (SHEQ) standards. The company will shortly add ISO 45001 and ISO 140001 certifications to its ISO 9001 accreditation. “We’re also developing an Approved Installer Programme,” explains Matt Loveday, “to provide our certified installers across Europe with training, development and other benefits. Although we always have MiTek employees on site as Project Manager and Site Manager with our installation teams, we want to give our installers additional support. We recently launched our new online portal with SHEQ tools, including a fantastic induction video. Our vision is for our installers to consider themselves as truly part of the MiTek team.”
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