UK-based technology provider Bluewater Bio is on track to double its revenues in each of the next three years, after emerging as a profitable enterprise following a turnaround spearheaded by CEO Richard Haddon. After two years of rapid growth in 2019 and 2020, the company saw its sales dip in 2021 due to COVID-related issues, but it expects to comfortably generate around ￡30 million of revenues in 2022, based on its existing order-book and visible pipeline. "The next three to five years are going to be about continuing our growth," Haddon told GWI this month. "We were in change management mode before, and we now need to ensure that we can deliver." Haddon openly acknowledges Bluewater Bio's challenging past, which led to him being drafted in by majority shareholder Ombu in 2015 to turn the business around. "They'd put a lot of money in, but they saw slow progress, and they asked me to look under the bonnet and see what was going on. In the early days, the company was trying to do too many things at the same time, and for a small business, that's hard. I had to dramatically reduce the number of people in the business, and I decided to concentrate on two technologies, HYBACS and FilterClear [see chart, facing page], and make them more efficient, more cost-effective, more reliable, and more client-friendly.
展开▼
