The citation reads:
Specac Limited is based in Orpington, Kent and has been in business since 1971. They design and manufacture accessories for spectrometers used in science and industry. In particular, they supply sample-analysis accessories, high-specification equipment using mirrors and crystal materials to direct infrared light. They sell to 70 countries across five continents, including the United States, China, Germany, Singapore and Japan.
"Innovation in new product development is key, with a target of three new products a year. Export represents 90% of their sales and the remaining 10% is often exported by original equipment manufacturers. Export has been the heart of the business since 2008 when they first travelled overseas to actively manage relationships, visit trade shows and boost sales. With growth in overseas sales, total sales and percentage overseas sales, whilst turning losses into profit, Specac Limited wins the Queen's Award for International Trade for Outstanding Continuous Growth in overseas sales over the last six years.
David Smith, Managing Director of Specac says, I’m deeply honoured that the business I’ve had the privilege to lead for the last ten years has won such a prestigious award. I believe it represents recognition at the highest level for a good commercial strategy, high quality in everything we design and make, and mostly, the hard work over a long period of an amazing team.
Rodney Appiah, Investment Director from Specac’s majority shareholder, Foresight Group says, To have been recognised for the Queens Award for International Trade is a testament to the dedication and effort of David and the talented staff at Specac. With the benefit of Foresight’s support, Specac has continued to innovate and refine their offering both at home and abroad. We look forward to continuing our successful partnership over the coming years.
Jo Johnson, MP for Orpington, Minister of State at the Department of Transport, and until recently, Minister of State for Universities and Science says, It is fantastic news that Specac has been recognised for its considerable contribution to international trade at the Queen’s Awards for Enterprise. This prestigious award is an outstanding achievement of which the company and its employees should be very proud.
We would like to place on record our appreciation of our key partners, both suppliers and customers, without whom this award would not have been possible. We are a hugely ambitious business, and we consider the success we’ve achieved as merely a beginning. We welcome new, collaborative partners as we expand our horizons and try to help more scientists to resolve their application needs.
Please direct all press enquiries to Hazel Hall, Marketing Manager, at email@example.com
Specac is a world leading provider of accessories for the infrared and X-Ray spectroscopy market, world-wide.
Working closely with Original Equipment Manufacturers, and extensive world-wide distribution network, as well as industrial, academic and government customers, Specac designs and manufactures its products at its facility in Orpington, Kent, on the outskirts of London. With sales offices in USA, China and Singapore, the company is well placed to help scientists, wherever they are, to resolve their application needs.
About Foresight Group LLP ('Foresight')
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has £2.8 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Property Relief (BPR).
Foresight’s Private Equity team, comprising 22 investment professionals, invests between £100k and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.
Foresight is an appointed equity fund manager for the Midlands Engine Investment Fund (MEIF), as the British Business Bank launched £100 million of equity funding for the region, as part of the wider £250 million Midlands Engine programme. Foresight will make equity investments of between c.£100k and £2m in growing small and medium sized businesses across the East and South-East Midlands.
Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester and Guernsey and international offices in Sydney, Rome, Seoul and San Francisco.