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    News

    Durbin wins Coutts Prize for Family Business

    02 February 2009

    We are delighted to announce Durbin's success at the Coutts Prize for Family Business Awards. We were named ‘Best UK Family Business, London and Greater London Region' in the £5-25m turnover category.

    Full press release below:

    Durbin PLC from Harrow, has been named ‘Best UK Family Business, London and Greater London Region’, in the £5-25m turnover category of the Coutts Prize for Family Business 2008/9. The company will now go on to compete in the same category at the national finals to be held in central London on 23rd June 2009.

    Specialist pharmaceutical and medical supplies distributor, Durbin PLC were formed in 1963. Today, the company has 80 members of staff, and ships to over 180 counties around the world, aiming to be a one stop shop for their clients.

    David Molian, Regional Chairman of the evaluation committee commented: “The things that impressed the evaluation committee about Durbin PLC included;

    • their business pragmatism;
    • their ability to clearly define roles and responsibilities;
    • the ethos of ‘saving lives by saving time’ and the use of key performance indicators; and the creative approach to charitable initiatives and the establishment of a charitable foundation.”

    Juliette Johnson, Senior Family Business Adviser, Coutts & Co added "We're delighted to provide recognition to this special business and showcase their achievements for the benefit of other businesses. What really shines through is the strength of the company's values. These influence how and why things get done and act as the glue binding the business together. These strong values, coupled with their conservative approach and long term planning, should give them the best possible chance to weather this current economic downturn."

    With the current economic downturn, businesses are finding it increasingly difficult to survive, which therefore increases the value of recognising these businesses and their work. The companies that scored most highly were the ones that were able to give examples of what they had achieved.

    The Coutts Prize for Family Business recognises the best run family businesses in England and Wales, and is the only regional and national awards programme in England and Wales celebrating the overall best performing small, medium-sized and large family businesses. The Prize compliments Coutts successful Forum for Family Business Owners that is held throughout the UK.

    The Coutts Prize recognises firms in three categories (£1m-5m, £5m-£25m, £25m+) that demonstrate a combination of high standards of family governance and corporate governance, a competitive market position, consistent financial growth, and a track record of charitable giving or involvement in local community. Entrants must be companies or firms where two or more family members together have control of over 25% of the voting shares and consider themselves as a family business.

    More specifically, the independent evaluation committee was looking for examples of best practice including;

    • communication and planning;
    • the separation of ‘ownership’ and ‘management’;
    • the use of external, independent advice;
    • the development of a succession planning process;
    • conflict management; and charitable involvement.

    The evaluation committee for the London and Greater London region includes: David Molian, Lecturer, Bettany Centre for Entrepreneurial Performance and Economics; Peter Bishop, Deputy Chief Executive, London Chamber of Commerce; Clare Brooks, Director, Network Development, Community Foundation Network; William Notcutt, Deputy Chairman, Notcutts; Farouq Sheikh, Founder and Executive Chairman, CareTech Holdings plc; Chris Swaffin-Smith, Principal, Family Business Reflections; Andrew Wates, Chairman, Wates Group.

    For further information please contact our Marketing Department.
    Tel: +44 (0) 20 8869 6570 or e-mail: marketing@durbin.co.uk

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