REDDITCH, UK – Global manufacturer of compressed air and gas systems CompAir, has been awarded ‘Private Company Turnaround of the Year 2006’ by the Society of Turnaround Professionals (STP). The company, headquartered in the UK, was presented the award at a prestigious ceremony recognizing the outstanding contribution to the UK economy of the country’s top corporate trouble shooters.

The company’s North American division of CompAirUSA, operates out of Sidney, OH.

A panel of 10 independent judges from the U.K business community selected CompAir from a number of submissions, describing what the company has achieved over the last four years as “an outstanding turnaround.”

CompAir is one of the world’s leading manufacturers of compressed air and gas systems. Its compressors, equipment and services are in use across the globe in a wide variety of industrial applications.

In the four years since its CEO Nick Sanders arrived at the company, it has seen unprecedented growth and success. The company has been guided away from financial troubles and is now recognized as a top UK manufacturer, achieving double digit growth, putting it well ahead of the market rate.

Sanders was presented with the award by Hamish McRae, associate editor of The Independent and principal economic commentator for The Independent and The Independent on Sunday, in front of more than 300 business leaders.

“This is a very important award for CompAir and to receive this kind of recognition reflects just how far we have come in the last four years,” said Sanders. “This is only

one step on our journey and we will be redoubling our efforts to ensure not only the continued success of CompAir, but further recognition of UK industry’s contribution to the global marketplace.”

Nick Ferguson, chief executive of STP, said, “The awards enable the turnaround profession to be openly recognized for saving businesses and acknowledged

amongst the wider business community as being an intrinsic part of commercial and public life – in the same way that the accounting, legal and management professions have long been regarded.”

For more information about compare, visit: http://www.CompAir.com.