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Professor Alan Reece founded Reece Group in 1983 to commercialise subsea trenching technology. The bulk of sales for the Newcastle firm come from America thanks to subsidiary Pearson Engineering, which makes specialist equipment such as mine clearing machines for the armed forces. The family-owned firm is chaired by Alan’s son John Reece, 52. After our research closed, Reece reported that sales had more than halved to £92.5m in 2012.

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Company details
CompanyReece Group
ActivityDefence equipment manufacturer
Sales £m211.7
Operating profit £m60.1
Main shareholdersAlan Reece (100%)

If applicable:

* supplied by Company   † annualised figure   ‡  profit = ebitda