Developing pioneering products for the global oil industry has earned advanced engineering group Viper Innovations the prestigious title of 2017 PwC West of England Business of Year in the category for businesses turning over less than £30m.
The firm, which has its head office and main manufacturing base in Portishead, was presented with the award at a gala dinner staged last night in Bristol’s new £19m Aerospace Bristol museum. The £30m-plus turnover category was won by Cornwall-based St Austell Brewery, which last year acquired Warmley-based Bath Ales.
One of the independent judges of the awards summed up the reason why Viper landed the coveted trophy, saying: “Viper has created one of the most innovative products I have encountered. Solving a really critical problem for subsea electrical systems and saving the oil majors significant costs in repairs and downtime.”
Judges praised its diversification, investment in new products and new brewing technology and innovation, including the launch of a 330ml can of its Tribute bitter to be served to British Airways customers – potentially reaching up to 27m passengers – and the installation of a small batch brewery to help meet the demand for craft ales.
Viper, which also has a base in Aberdeen, was initially set up with £45,000 of working capital and has grown steadily to achieve a turnover of more than £5.3m last year.
It overcame the collapse in the oil price from $115 a barrel to less than $30 in a single year by developing a well-established reputation in the global subsea oil and gas market, where it products monitor, detect and locate cable insulation and conductor faults on well heads.
Its innovative V-LIFE technology generates income in two ways – through payments for the sale of the hardware and associated engineering, and through a ‘software licence’ model with a monthly charge – similar to a mobile phone contract.
The technology keeps oil and gas fields producing by reversing the effects of failed subsea electrical equipment – saving Viper’s customers huge sums as they do not need to procure and install replacement subsea hardware.
The firm has recently used its ground-breaking technology to break into the UK rail industry with an innovative product that reduces delays caused by signal failure.
It has also partnered on projects with industry giants such as BP, Shell, Chevron, Total and ExxonMobil, as well as a number of universities, and has been successful in obtaining funding for research and development (R&D) from oilfield operators and through government grants.
PwC private business leader in the West and chair of the judges, Pippa Clarke, said: “This year’s competition was tough as there were four great businesses in the final.
“It is an amazing achievement to make it through to being a finalist, given the high standards required across all facets of the business and the rigour which the judges apply.
“The independent judges were hugely impressed by Viper Innovations’ all-round strong business model, which includes impressive innovation, contribution to the region plus a highly engaged workforce and career progression opportunities available for their people.”
Viper Innovations co-founder and managing director Neil Douglas said: “We are absolutely delighted and honoured to have been selected as the winning company. This is very much the South West’s most prestigious business award and the rigour of the judging process justifies the high standing of the award within the business community. The award is a recognition that all our staff can celebrate and are very proud of the achievement.”
Contenders for the £30m-plus turnover award included Bristol-based recruitment group RSG and Bath-based Independent Vetcare Group.
Winner St Austell Brewery took over Bath Ales’ brewery and bottling plant at Warmley, near Bristol, its portfolio of beer brands and its 11-strong pub estate in July last year.
The firm’s Bristol outlets include The Wellington pub in Horfield, Colston Street Bar & Kitchen, Beerd Bristol, Beerd Colston and the Graze Bar & Chophouse in Queen Square. Bath Ales’ beer brands include its flagship Gem bitter, Barnsey, Dark Side, Wild Hare and Ginger Hare
St Austell Brewery was founded in 1851 and owns 167 pubs across the South West. Best known for Tribute Cornish Pale Ale, Proper Job IPA and Korev lager, it reached the landmark figure of 100,000 brewer’s barrels (163,659 hectolitres) of its own brand beers last year – equivalent to 28.8m pints.
PwC head of tax in the West region and chair of the judges Nick Morgan said: “St Austell Brewery have seen turnover increase by 44.5% to over £153m. The Brewery, which employs over 1,400 staff, also impressed award judges with its training facility and new Exeter-based chef academy and successful apprenticeship scheme.”
Competing in the finals of the under-£30m turnover category were Bradley Stoke-based Natracare, which manufactures and sells organic and natural feminine hygiene and baby care products, Exeter Chiefs rugby club and Torquay-based inflatable paddle board manufacturer Red Paddle.
The West of England Business of the Year Awards have been staged by accountancy group PwC for 29 years and have gained a reputation as the region’s most prestigious business accolades.
They were run in association with Circle2Success, Devon and Cornwall Business Council and Bristol Business News and its sister titles in Bath and Swindon.
Pictured: PwC private business leader in the West Pippa Clarke presents the Business of the Year Award to the Viper Innovations team
