ADEY, the firm which started in a garden shed in Gloucestershire and has gone on to become an international success story, is leaving Cheltenham for new headquarters.
Those who hold the firm dear to Gloucestershire need not fear, the homegrown business staying within the county lines – just putting its two halves back together down the road in Gloucester.
In March last year it opened a new 44,000 square foot factory on St Modwen Park, off the M5 motorway at Junction 12, and it’s now moving its head office to the same site.
Matthew Webber, ADEY’s group managing director, said: ‘We’ve been based in Cheltenham for more than 15 years and although we’re moving, we’re really pleased that we’ll still be in the local area.
‘The business has experienced significant growth over the past few years and the move to St Modwen Park will bring further benefits that we can continue to build on.’
Chris Adey famously founded the firm on the back of his own invention, which he called the MagnaClean filter, a device to improve the efficiency and performance of central heating systems.
He left the business in 2016 after a management buyout but it has continued to thrive. Today the Queen’s Award winner describes itself as an ‘international water treatment manufacturer and magnetic filtration pioneer’.
ADEY continues to innovate and now has a stable of products to clean, flush, maintain and test heating systems.
Even with the impact of Covid-19, its last set of annual accounts (published in October 2020), show turnover up from £40.9 million to £41.7 million and operating profit up from £11.16 to £11.66 million.
In 2019 it saw an incredible rise in turnover of 256 per cent from £11,495,000 to £40,972,000 and profits by 255 per cent from £3,550,000 to £12,603,000.
Mr Webber said the new workplace allowed for ‘COVID-safe flexible working practices… which is something that’s obviously become critical over the past year’.
‘Overall, the new HQ is a great platform that will be fundamental in supporting ADEY’s future growth,’ he added.
By Andrew Merrell
Wednesday 13 January 2021
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