An innovative Mid Wales business which is making waves in the luxury yacht market impressed a Welsh Government minister when he paid a visit yesterday (Wednesday).
Economy, Energy and Welsh Language Minister Jeremy Miles was shown the design and manufacturing capabilities at Custom Marine Developments (CMD), based at Abermule Business Park, near Newtown.
Part of the £11.5 million turnover Makefast Group, based in Newtown, CMD specialises in bespoke engineering solutions for clients at the high end of the luxury marine market.
CMD’s design team works with many of the world’s leading superyacht builders, design houses and management services to provide innovative solutions for new build and retro fit projects.
The company’s installation team travels around the world to install products on superyachts and tenders, which are often a mini replica of the ‘mothership’.
Launched in 2020 with five staff, CMD now employs 17, with plans to take on more apprentices and specialist staff as business continues to grow.
Managing director Jack Miller told the minister that CMD has enjoyed 30% annual growth since it was launched and is on course to match that figure again this year.
He revealed that the company is already supplying 95% of the world’s tender builders and is now securing orders from superyacht builders, which he hopes to increase.
Chris Brown, Makefast Group’s chief executive, said: “CMD has built a reputation for its ability to provide bespoke products needed by boat builders. It’s a specialist company operating in a niche market that has developed out of Makefast. There is great synergy and collaboration between the two companies.”
Mr Miles said: “I was delighted to visit CMD – part of the Makefast Group – at their unit in Abermule to see first-hand the company’s operations. It is a niche business which is growing and thriving here in Mid Wales and I wish it continued success.
“Building a more dynamic and productive Welsh economy is one of my top priorities and SMEs like Makefast and CMD have a critical role to play in making that a reality.“
Jack said: “We were delighted to welcome the minister and enjoyed showing him the prestigious products that we produce here. He was definitely interested in our business, particularly as we are making products for the high end marine market here in rural Mid Wales.
“He was keen to hear about the export support we have received from the Welsh Government and how effective it was.”