as its Managing Director. He was tasked with overseeing the smooth exit of its retiring owners and the seamless introduction of its new investors. Working closely with two sets of venture capitalists, Stephen gained invaluable experience through this period that significantly shaped his approach as both an MD and an Owner. “I was fortunate enough to take on board the positive methods of fiscal control and venture capital demand,” he reflected, “but also fundamentally realise their biggest failing, which was the constant absorption of cash, and therefore working capital through increasing management charges as the business prospered. This prosperity was limited by the complete reluctance to reinvest, and the financial inability to reinvest because all the cash had been sucked out by management charges.” “It is one thing to make a business profitable, but it is another to appreciate that it is reinvestment that makes it sustainable.” Stephen brought this experience with him when joining Carpet & Latex International as its Managing Director, focusing solely on the growth and prosperity of the business and its future strategic positioning. This is an approach that requires tight control of the existing business through both P&L and balance sheets; growth through innovation in products and sectors; investment to support growth potential; and, most importantly, looking after every employee supporting this journey. Effective communication is a crucial component of Stephen’s role, ensuring that every member of the team operates in alignment with its overarching mission. To achieve this, Stephen promotes regular face-to-face meetings that are driven and hosted by himself or the management team, as well as quarterly meetings with external outsourced accountants. There is sufficient overlap between the employees involved in these meetings to ensure that every message is cascaded to all other employees across the business, with clarity and without dilution. Never reduced to email or memo, these meetings are structured to cover all aspects of Carpet & Latex International: Operations details the company’s performance at gross profit level; Sales covers outlook planning and retrospective performance review; Technical oversees the progression of research and development, as well as business momentum; and Quality, Environment, Health & Safety ensures companywide consideration and compliance. Under Stephen’s tenure, Carpet & Latex International has developed a proactive company culture driven by a healthy balance of abilities and expertise. This blend is something that Stephen finds to be essential for long-term prosperity, having cherry-picked a number of key industry specialists who strengthen the company’s strategic approach. By ensuring that every key employee at Carpet & Latex International possesses a technical or technical sales background, Stephen has directly contributed to better innovation and high performance. Across his years in the industry, Stephen views one of his greatest business achievements to be the complete business-wide transformation of his workforce to a competency level that has enabled Carpet & Latex International to achieve and maintain all three management systems: ISO 9001, ISO 14001, and ISO 45001. Met in full within its projected two-year timeframe, this achievement served at the foundation that enabled Carpet & Latex International to gain and retain significant new business during an incredibly dynamic period of time. “However,” the MD added, “my greatest achievement has to be the evolution of Carpet & Latex International from an uncultured minor player into the UK market leader within three years, privately-owned and completely independent of being a downstream part of a multinational latex supplier. It is quite incredible, and something I have not seen the likes of in this sector within my 40 years of experience.” Indeed, Stephen has made significant strides in reshaping the growth trajectory of Carpet & Latex International whilst transforming its operational culture. The MD has tripled the company’s turnover, going from £5M in 2020 to £15M today, with its gross profit rising from 10% to over 20% and its operating profits increasing to more than £1.5M. He has successfully equipped his team with an integrated management system, a network of industry specialists providing continued opportunities for growth, and a proactive work environment wherein each employee can learn, grow, and thrive. We at SME News Magazine are proud to recognise Stephen Fitzgerald as North West England’s Textile and Floor Coverings MD of the Year 2026. We would like to extend our most heartfelt congratulations to Stephen and his team, and cannot wait to see what is next on the horizon for Carpet & Latex International. Contact: Stephen Fitzgerald Company: Carpet & Latex International Ltd Web Address: www.cli-latex.co.uk
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