4. Adam Stroud, CEO, Paxton
Up two places from last year’s rankings, Adam Stroud, who began his Paxton career 20 years ago on the factory production line, is now at the helm of a company that made it into the illustrious FT1000, an index of the 1,000 fastest growing companies in Europe. The company has also been named as one of the London Stock Exchange’s 1000 Companies to Inspire Britain. In 2017, Paxton was included in the inaugural list of the FT1000 of Europe’s Fastest Growing Companies. The company also consistently ranks in the Sunday Times International Track 200 list and is a regular finalist in the Sussex Super Growth Awards. And Paxton recently made it into the Sunday Times 100 Best Companies to Work For 2018 – the only security manufacturer on the list.
Paxton’s turnover has grown by £13m in three years, a rise of more than 65%, while profits have grown 50% year on year since Stroud became CEO in 2012. Paxton has seen its turnover double every four years, twice the industry average, and is now at approx. £40 million. The company currently employs over 300 people across the globe. Adam has overseen international expansion with Paxton opening offices in the US, France, Germany, Benelux, South Africa and the UAE.
Stroud has also overseen the introduction of IP technology to its Net2 system. He has also recognised the synergy between access control and door entry to introduce Net2 Entry to the market, and more recently bringing access control and building automation together to create Paxton10. The Net2 Entry Touch panel’s design and build quality saw it awarded two prestigious design awards, the 2017 iF DESIGN AWARD in the Building Technology category and the Red Dot: Product Design Award 2017.
Last year the company trained over 7,000 installers and achieved a 20% increase in the number of installers trained globally compared to 2016. The new 29,000-sq. ft. Paxton Technology Centre is now home to the company’s product Research and Development departments.
Notable nominations:
“Played a leading role in the company’s journey to become the UK market leader in the access control sector. Adam encourages Paxton’s Development team to continuously improve the company’s product portfolio championing superior design, high-quality, innovative products that align with both the company’s strategy and customers’ expectations. He has long held a vision of product diversification for Paxton, and via a forward-thinking product roadmap, this has led to the introduction of a range of innovative solutions.
“Adam has spearheaded recent developments to the Net2 Entry system, most recently with the launch last year of the Net2 Entry Touch panel. Adam strongly believes it is his team, not just simply product and business strategy, that will steer the company to success and has developed a set of company values that underpin the culture at Paxton.
In November 2017, Adam introduced Paxton’s Scholarship scheme for the first time. Establishing an ongoing relationship with local universities shows Paxton’s long-term commitment to securing the bright-minds needed for continued success and prosperity.
“Adam remains a driving force behind the company’s core values of simplicity, quality and honesty. He ensures they are upheld so that the customer experience is a positive one. Retaining focus and maintaining discipline at what you are good at is a key factor for any company. Adam believes Paxton’s core strength comes from its focus and commitment to educating installers working in the mid-market (e.g. education, healthcare, retail, leisure, public sector commercial premises) about its products.
“The company invests significantly in the free training of its installers across the world to ensure its products are sold and installed with confidence.”
Congratulations to Adam Stroud and the rest of the team at Paxton!