BVG-Airflo Group Ltd.

Origins

BVG was founded in 1991 by Iain Burgess after a short career with Marks and Spencer. He was killing time before a deferred university place although by 1999, Iain had received the prestigious award of Welsh Young Entrepreneur of the Year. The company was originally established to produce corporate videos but it soon diversified into video distribution and then into software distribution in 1994. The media partner services division was set up in 1995 as a means of advertising their own products. The success of this soon broadened the division’s scope to include promotion of other companies’ products. In late 1995, BVG acquired Airflo, a fly fishing company and the BVG-Airflo group was formed. The two key obstacles were Iain’s age (19) - which made it very difficult to persuade banks and blue chip clients to take someone so young seriously – and over trading as the business went from a £13K to £1m turnover in just 12 months.

Success Factor

The three main success factors for this fast growth firm are identification of unique gaps in the market place; excellent financial management; and a strong vision that is explained clearly to team members with regular updates on performance and shared financial success when hitting targets. The company has received numerous awards for both their products and their customer services – Welsh Exporter of the Year and the Fast Growth Excellence Company of the Year 2003.

The Future

The target for BVG Airflo is £50m turnover and a £6m EBITDA by 2007. Organic growth will continue at a healthy rate but to ensure that the firm hits this target, a number of acquisitions will be necessary. On purchase of the target companies, BVG will apply its winning formula of cutting edge technology, strong leadership/ management and entrepreneurial flair to ensure further success.