Ferrositi has been announced as ‘Young Business of the Year’ at the Gloucestershire Business Awards. Every year the awards celebrate the very best of the business community in Gloucestershire.

On winning the award Nick Furno, Managing Director said: “The award was a fantastic opportunity to showcase the outstanding engineering capability we have here in our county, and across the UK.

Its another key milestone in our journey, and testament to how far we’ve come, since we set out five years ago.

Our achievements are not only a reflection of our hard-work, dedication and commitment, but are also thanks to the loyalty of our clients. We’d like to thank them for their role in our success at the awards and in our sustained growth.”

The judges of the awards were looking for a business that has evolved from an entrepreneurial approach, and praised Ferrositi for its professionalism, investment in the business and impressive growth.

Now in its fifth year the Cheltenham based business is on track to pass the £1m mark in 2017.

Ferrositi’s founder, and Managing Director Nick Furno, was just 22 when he established the business in 2012. True to his vision, Nick continues to develop the business through strategic investments into new sectors and technology.

Nick adds: “Our ability to offer large engineering solutions really sets us apart, and has been key to our success.”

“Very few engineering companies have the same size of machinery and capability that Ferrositi can offer, making us a very flexible solution for most engineering challenges. Our commitment to quality and friendly but professional approach, is what we pride ourselves on.”

In the last twelve months Ferrositi has invested £450k in new machinery and expanded its operations, adding welding and fabrication to its services, to complement its large machining capability.

With its eye on the future, the business has committed a further £1.6m to the development of a brand new purpose-built Gloucestershire based facility, which it hopes to move into in 2018.

Ferrositi is a young precision engineering company that solves engineering challenges on time and on budget. It manufactures bespoke products for various industries, including automation, plant, aerospace, defence, oil and gas sectors, and bespoke architectural metal work, among others.