The magical alchemy of Condy Mathias and Applied Automation – Guiding a two-man quest to a thriving realm of innovation
Based in Plymouth, Applied Automation UK Ltd build automated equipment and control solutions and was formed in 1986.
Initially just a two-man operation, Applied Automation has grown and now employs a workforce of around 200 staff members.
It wasn’t long into its formation that the growing business would need an accountancy firm to help them – this is where Condy Mathias came in.
“It was about 30 years ago that the company had gotten to such a scale that we realised we’d need a more formal accountancy practice than the one-man band we were using,” says David Rowe, Managing Director at Applied Automation UK Ltd.
“We found Condy Mathias, and we’ve been with them for a long period of time. They undertake our end-of-year accounts, which is the primary function for us, but they also act as a guide.
“As a company, we have been looking at acquisition strategies, and Condy Mathias has provided support and guidance with that, and how to set up a company legally. We created a holdings company a few years ago under the advice of Condy Mathias and that was really useful.”
David appreciates the accessibility he has with Condy Mathias and feels that they are on hand whenever he needs them.
“I have regular contact with Condy Mathias, probably every week or every other week, discussing some aspect of something that we’re doing as a business,” he says.
“If there’s a new opportunity out there, it looks nice and shiny to me, and I tend to go for it. Condy Mathias tends to take a bit more of a practical approach and they’ve always been big enough to ask us if what we are doing is the right thing, rather than just following my enthusiasm.
“A few months ago, I was determined to purchase a company in the north of the UK, but the comments I received from Condy Mathias made me stop and think about it, and in the end, I decided not to do it, which in the long run was the best decision.”
With the business relationship between Applied Automation UK Ltd and Condy Mathias now stretching over 30 years, it is not only the services and advice that Condy Mathias provides that have solidified their bond.
“Our relationship is great and rather than me speaking to my accountants, it’s me and Rich having a chat, and that certainly works better for me,” says David. “It’s much more of a collaborative relationship rather than just being the accountants and the customer.”