Simon Midwood, Managing Director of Cheshire-based TIMCO, has been named as one of The LDC Top 50 Most Ambitious Business Leaders for 2021.
The programme, which is supported by The Times and is now in its fourth year, celebrates the inspiring leaders behind some of the UK’s most successful and fast-growing medium-sized firms. Despite the challenges of the last 18 months, the Top 50 received a record 600 nominations, across a diverse range of sectors, proving that ambition is alive and well.
Collectively, the Top 50 employ more than 9,500 people and contribute more than £1.2bn to the UK economy.
Simon has been “instrumental in TIMCO’s phenomenal business growth” with the firm seeing an increase in turnover of 14% to £49.7m for 2020, and a predicted £60 million turnover for 2021. The rapid growth occurs in the run up to the company’s 50 years in business.
He took over the running of the company from his father in 2002 at the age of just 26, with a business model based on strong support for its customers and “enabling them to compete with national operators, so their business success leads to TIMCO’s success”. This is accompanied by a range of services and support functions as part of what is decribed as the “TIMCO hug” – providing expert knowledge, marketing services, and industry-leading support to merchants.
During the Covid pandemic Simon “refused to batten down the hatches and instead invested in the business, recruiting new people and constructing new buildings”. The company’s website, which was launched in 2019 to improve the customer buying experience, received a huge increase in traffic during the 2020 lockdown and online sales were said to have increased from 20% to over 50% of all sales over the last 12 months.
CSR initiatives instigated by Simon include the provision of TIMCO screws and fixings to Bees in Our Community, to create beehives for a local beekeeper who is trying to bring back a native species – the Cheshire bee.
Simon commented: “I’d like to dedicate this award to all our TIMCO staff who worked so tirelessly through the Covid pandemic to provide the winning products and service that we are known for. I am truly proud of what we have achieved and look forward to driving TIMCO through the next phase of our expansion plans which include the opening of a new 20,000sq ft warehouse, and the launch of more new products, including handtools later this year.”
LDC’s John Garner added: “The last 18 months have presented challenges that none of us could have foreseen, but despite everything, it’s fantastic to see that so many business leaders have achieved remarkable things. Through their resourcefulness and resilience, this year’s Top 50 Most Ambitious Leaders prove that the flame of ambition is hard to extinguish. Congratulations to all those featured and we look forward to seeing their continued success and impact, and contribution the broader UK economy.