Ferrositi (www.ferrositi.com), a Cheltenham-based engineering company, won the ‘Young Business of the Year’ award at the recent Gloucestershire Business Awards.

Nick Furno, managing director, said: “This is another key milestone in our journey — and a testament to how far we’ve come since we set out five years ago.”

The judges were looking for a business that has evolved from an entrepreneurial approach; they praised Ferrositi for its professionalism, investment in the business and impressive growth.

Mr Furno was just 22 when he established the business in 2012, and he has continued to develop it through strategic investments in new sectors and technology.

He added: “Our ability to offer large engineering solutions really sets us apart and has been key to our success.

"Very few engineering companies have the same size of machinery and capability that Ferrositi can offer, making us a very flexible solution for most engineering challenges.

"Our commitment to quality — and our friendly but professional approach — is what we pride ourselves on.”

The company makes bespoke products for a wide variety of industry sectors including aerospace, defence, and oil and gas.

In the last 12 months, it has invested £450,000 in new machinery and expanded its operations, adding welding and fabrication to its services.

With its eye on the future, it has committed a further £1.6 million to the development of a new purpose-built facility, which it hopes to move into in 2018.