A Newtown-based luxury yacht supplies company is celebrating after scooping an award at the highly anticipated Wales Business Awards 2022 - and has announced plans to expand to America.

Makefast Ltd which designs and manufactures stainless steel hardware and marine systems for the safety and marine industries, took home the award for Global Business of the Year at the ceremony.

Judges were impressed by Makefast Ltd.’s significant year on year export growth over a sustained period of five years, and how it has "pro-actively and positively dealt with and overcome both Brexit and Covid related challenges". The business is also said to have "exciting expansion plans for the future in Wales and the USA".

David Carter, sales manager at Makefast Ltd, said: “We are very happy to have received the award for Global Business of the Year, recognising our export success and growth from Mid Wales to the world. Our hard work has paid off!”

Now in its nineteenth year, the awards provide SME businesses across the country with the opportunity to compete for Wales’ most prestigious accolades.

More than 180 entries from businesses from across Wales were whittled down to 10 winners across the 10 categories, plus an overall Wales Business of the Year, which went to Rhondda Cynon Taff based Penderyn Distillery.

Other winners on the night included Wales Interactive, Drop Bear Beer Co, Purolite, Catsci Ltd, EverTrek, Aspen Waite in Wales Limited, City Hospice, Watkins & Gunn Solicitors, and Joelle Drummond of Drop Bear Beer Co, who took home the Young Entrepreneur of the Year award.

Paul Slevin, President of Chambers Wales South East, South West and Mid, said: “What a night for Welsh business. There was such a buzz in the room, and it was great to see so many businesses celebrating their success and all they have done to support the Welsh economy.

“The judges had an incredibly tough time deciding on the winners for each of the categories, which just goes to show the quality of the entrants this year.

“We wanted to do things a bit differently this year, and to crown our very worthy winners at St Fagans, Wales’ most popular heritage attraction, was truly special. The event wouldn’t have been possible if it weren’t for the support of our sponsors, to whom we’re extremely grateful.”

The awards night on June 9 was hosted by Chambers Wales South East, South West and Mid, held at St Fagans National Museum of History, Cardiff.