Workwear specialist CTS UK has appointed a new group finance director as it looks ahead to further organic growth and acquisitions in 2023.
Based in Northallerton in North Yorkshire, it has brought in Rhys Davies to the role. He was previously at accountancy and business advisory firm Armstrong Watson where he worked for 10 years, rising to audit director.
He will work with the rest of the management team to build on CTS UK’s growth: its turnover has increased from £500,000 in 2020 to £4.5 million in 2021, and this year it will be around £9 million. The projected figure for next year is between £14 and £15 million.
Announcing Rhys’s appointment, the company confirmed it had already embarked on “several exciting strategic projects” for 2023 including expanding its volume of supply from overseas including the Far East to meet strong customer demand as well as “looking to complement its organic growth with further successful acquisitions”.
AJ Swinbank, founder and chairman of CTS UK, said: “This is a very significant appointment for us. Rhys is a first-class accountant and business adviser. He is a superb addition to our management team and has already added an alternative value perspective to the group.
“Rhys arrives at an important time for CTS as we build upon our substantial progress during the past two years since incorporation. We are expanding quickly, with increased turnover and profits in 2021 and 2022, new premises in Northallerton, new clients and brand-new state-of-the-art machinery.”
Howard Gill, managing director of CTS UK, added: “Our diverse sectors include PPE, uniform, consumables, warehousing and fulfilment. We are looking to grow through e-commerce channels, offering warehousing and fulfilment.
“With online retail booming, we have also seen an opportunity to launch seasonal and reactive clothing on Amazon and fulfilling through in-house production. Rhys will be crucial in supporting and overseeing these opportunities.”
CTS UK supplies PPE, uniforms and other workwear alongside its business supply chain expertise, with clients such as Sports Direct, Bunzl Retail Supplies, Sainsbury’s, William Stobart, WS Transport and Heck.
Rhys said: “The opportunity to join the management team of a young, hungry, vibrant, and fast-growing company was too good to turn down. I am excited to be joining a board with a clear vision to which I can add value and support the strategic needs of the business. I am proud to be helping to build on CTS’s reputation as one of the leading business supplies companies in the UK.”