Morgan Grp (Llandybie)

Origins

In 2003, the business was in the red and up for sale. The team at Morgan Marine, headed by Martyn Ingram (now Managing Director) bought the company in a management buy-out. Having started life at the company on the shop floor, Martyn’s motivation was of course partly driven by a sense of self-worth and achieving something for himself but it was also about a sense of duty to the local community. Morgan Marine is the largest employer in its area with third generation families working at the company and there was a strong sense of obligation to the local community. Whilst Morgan Marine is now proud to be offering a world-class service and product from Llandybie, in the early days, this was a problem. There was an apathetic culture driven by a sense of ‘them and us’ and the belief that “we are only in Llandybie”. This demonstrated a lack of understanding that, whilst the business may “only be in Llandybie”, it competes on a world stage with customers all over the globe. This was the main challenge and necessitated a complete culture change at the company and a need to engage with the workforce and get their buy-in on future plans. The introduction of regular toolbox talks and visible and accessible management at all levels has had a major impact and the need for change is no longer questioned with everyone proud to be in Llandybie and producing a world-class service and product.

Success Factor

Morgan Marine has the foresight and ability to invest heavily in R&D and, as a result, has moved into the security market by developing a range of door sets and enclosures for the protection of critical national infrastructure. In addition, the company has assessed its area of weaknesses and sought out compatible businesses to acquire which addressed those weaknesses whilst complementing the existing core business. Acquisitions to date include have PSF Wales Ltd and Envico Engineering Ltd incorporating Envico Specialist Mouldings which means that the company offers sustainable employment to 217 people. Finally, the company took the decision, during the height of the recession, to maintain its staffing levels and invest in staff BIT (Business Improvement Techniques) and PRINCE2 training and development with 90 per cent of the workforce taking part.

The Future

Morgan Marine will continue its strategy of investing heavily in R&D to meet market needs and demands due to the constantly changing environments and requirements within each of its target market sectors. As a result, it intends to maintain its reputation as market leader for providing state-of-the-art custom solutions for its markets through further product development. Te company will Also seek opportunities to acquire compatible businesses which will allow it to strengthen its existing offer and potentially diversify into new markets and sectors. Finally, the continual development of staff at all levels is another key part of the future growth strategy of the business to ensure that the workforce is equipped with the appropriate skills to enable the company to continue to enter new markets.