Navman Wireless has been named winner of the coveted 3i Growth Strategy of the Year Award for the Midlands and East of England in this year's National Business Awards - for the second successive year.
Navman Wireless, the UK's largest manufacturer of tracking, messaging and navigation equipment for commercial fleet management, has seen turnover rocket from £13 million in 2006 to £17.6 million in 2007*. Projected turnover for 2008 is well in excess of £25 million.
"Exceptionally high levels of organic growth have been generated over recent years by our successful business model and highly regarded vehicle tracking system," said Tony Neill, Executive Vice President, Navman Wireless.
"For our achievements to have been recognised twice by the awards dubbed by Prime Minister Gordon Brown as the 'Business Oscars' is extremely gratifying."
Navman Wireless beat off stiff competition from Drive Assist UK, Luminus Group and Postcode Anywhere to win the award at a glittering ceremony on Tuesday at The National Motorcycle Museum, Birmingham - Solihull.
David Whileman, Partner, 3i and judge said: "The 3i Growth Strategy of the Year Award was very competitive this year. Navman Wireless has a passionate team of people who have been flexible and adaptive in seeking growth in both existing and new markets.
"They have been able to demonstrate the power of attacking new markets and building critical mass. This is why my fellow judges and I believe it to be a worthy winner of this award."
Across the UK, Navman Wireless currently supports a customer base of more than 4,500, and globally the company tracks more than 70,000 vehicles. As a regional winner, the company will now go forward to the National Business Awards grand final on November 18.