Matt Loveday, Managing Director, explains why the company name is changing to simply ‘MiTek’.
MiTek Mezzanine Systems is completing the final step in its transition from being a privately owned company to being a member of the global MiTek® group. MiTek Inc acquired the company – then known as Mezzanine International Ltd – in 2017, along with its sister firm in Germany, Mezzanine Europe GmbH. The two firms rebranded to MiTek Mezzanine Systems in early 2020 along with Cubic Designs Inc, which MiTek acquired in 2013.
“This created the first global mezzanine company,” says Matt Loveday, Managing Director of MiTek Mezzanine Systems "and this worldwide presence has secured a number of benefits that we've been able to share with customers; this has undoubtedly helped us to grow the business.”
Now MiTek Mezzanine Systems Ltd is being formally merged into MiTek Inc’s UK operation, MiTek Industries Ltd, known as MiTek. “The change takes effect from 4 July,” explains Matt Loveday, “so customers, suppliers and other partners will see our name and logo change to simply ‘MiTek’ after this date.”
This final element of the transition into the MiTek group will mean the adoption of the registered address of MiTek Industries Ltd’s headquarters in Dudley, as well as its registered number. “It’s more of a procedural and administrative change than anything else,” adds Matt Loveday, “and our European office will be merged into MiTek GmbH later in the summer.”
Strategy for further growth
Matt Loveday is settling into his new role as Managing Director, following the retirement of previous MD, Scott Chambers, in April. Moving from his role as Operations Director, Matt has changed his focus to keeping an overview of the business and forming the strategy for further growth. Having been a member of the MiTek team since 2005, Matt knows what is required to take the business forward. “It’s been a smooth changeover with no real surprises,” he says. “A lot of my new role involves communication between our colleagues in North America and the UK and European teams. I’m supported by a great leadership team here in the UK and everyone in the business has stepped up to ensure a seamless transition.”
Record-breaking revenue
There continues to be high demand for mezzanine solutions, particularly in the e-commerce sector, as well as from companies in diverse industries seeking to automate. “Of course, there are some challenges in the market due to uncertainty around the geo-political and economic situation,” says Matt, “but we are finding that many companies are deciding that labour availability issues mean that they need to invest in automation to fulfil customer expectations and provide the level of business resilience they require. Logistics automation is definitely a key aspect of our growth. We have some fantastic enquiries currently,” he continues, “and mega projects are becoming the norm. We had a record month in May, with our largest ever single month of revenue, and we’re set to retain our position as the UK's number 1 mezzanine supplier for the seventh consecutive year.”
Investment in new staff
MiTek Mezzanine Systems has recently invested in a number of new employees in design, project management and site management. “We’ve hired 25% more staff over the past six months,” says Matt Loveday. “These are customer-facing employees to help us deliver our solutions even faster for clients. We understand that speed to market is key for many of them.” A brand-new position of Safety, Health, Environmental and Quality Manager has also been created, with Calum Cameron, a Chartered Safety and Health Practitioner, appointed to the role. “This new post reflects how seriously we take SHEQ,” says Matt, “as well as how large our projects have become that we can justify investing in full-time, in-house expertise.”
Global expansion
With incorporation into MiTek Industries Ltd, there will be further opportunities for synergy and economies of scale as the business continues to grow, particularly in functions such as Finance, HR, Marketing, Health & Safety, Quality and Procurement. “MiTek has offices in many European countries,” adds Matt Loveday, “and the facility in Poland could be a particularly useful platform as our mezzanine projects in Eastern Europe expand. Our German and European sales are also growing, so we’ve doubled our staff in Germany in the past 12 months. The prospect of yet more growth is very exciting.”
