Fast-growing north-east company Ace Winches and its award-winning boss, Alfie Cheyne, had three good reasons to celebrate yesterday.
Firstly, the engineering firm officially opened its new headquarters at Towie Barclay Works, near Turriff.
Secondly, it was presented with its second Queen’s Award for international trade just three years after it won its first.
But the highlight of the day for Mr Cheyne, his wife Valerie and Ace Winches’ 320-strong workforce – and the third cause for celebration – was a visit by the Princess Royal to formally declare the site open and present the firm with its Queens Award.
Princess Anne, wearing a burgundy jacket, tartan pleated skirt and black gloves, told Mr Cheyne the honour was fully deserved.
“This building reflects your investment in the future,” she said as she handed over a Queen’s Award crystal bowl, before adding: “You have earned it.”
Ace Winches manufactures winches and marine deck machinery for the offshore energy industry. About 75% of its turnover and profits come from overseas trade.
The company’s workforce has mushroomed from 200 people just two years ago and it is still expanding as it tries to keep up with growing demand for its products and services worldwide.
Mr Cheyne, named Scotland’s chief executive of the year at Scottish Business Awards in June told his employees and invited guests the company aimed to grow its revenue by another 25% over the next two years.
Ace Winches, which has invested more than £30million since 2008 in growing the business and developing its hire division, manufacturing plant and offices, turned over £31.1million in 2012.
This was a 42% rise on the previous year, while pre-tax and operating profits were up 7% to £7.4million and £7.6million respectively.
Mr Cheyne told the Press and Journal the total investment at Towie Barclay Works, which boasts a gym and other recreational facilities for its staff, over the past two years came in at around £11million.
He said the company continued to deliver new projects and hire contracts in Asia, Africa and in Europe, where demand for high-specification equipment remained strong, while supporting the growing activities of its Norwegian division.
“Our objective remains to secure the long-term future of the company for the good of all those that work here,” he added.
BACKGROUND: ACE WINCHES
Ace Winches was founded at Montbletton, near Banff, in 1993, by chief executive Alfie Cheyne and his wife, Valerie.
It was set up as a small engineering repair workshop to carry out servicing and repairs for the Scottish fishing fleet.
The firm grew quickly; it had 10 employees within 18 months and made a breakthrough into the manufacture of deck machinery, with a winch built for the Scottish Fisheries Marine Laboratory vessel Scotia.
Decline in the Scottish fishing industry from 2000 onwards brought a new set of challenges to the business and prompted a change in strategic direction into new markets such as oil and gas, offshore marine and – more recently – renewables.
As well as two Queen’s Award, the firm and its CEO have won a string of other honours. The most recent of these was the chief executive of the year title at the Scottish Business Awards which he collected in front of 1,700 people, including former US president Bill Clinton, at a ceremony in Edinburgh in June.
Last October, he beat impressive competition to be crowned global director of the year at the Institute of Directors’ (IoD) annual awards.
His place on the IoD’s final shortlist was secured earlier in the year, when he won a regional director of the year award.
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