According to accounts for Howden Group filed with Companies House, turnover rose 30.3% to £121.2 million at the company, which supplies rotary heat exchangers and custom engineered centrifugal fans to the power generation and petrochemical industries.
Pre-tax earnings increased from £7.4m in 2010 to £19m in 2011.
"The directors consider the results for the year to be in line with expectations," the company said in the report to the accounts, adding that a high order book at the end of 2010 had fed through to increased revenues and profits.
"The external commercial environment is expected to remain competitive during 2012, however the company is well placed to benefit from positive trends in industrial investment and maintenance, particularly in the energy and oil and gas sectors," the directors added.
"The company remains committed to enhancing market share in these challenging times."
However, Howden noted that after the end of the year it had been unable to collect amounts due on two contracts that would have reduced profits by £1.9m.
Howden was founded in Scotland Street, in the south side of Glasgow, in 1854.
After Mr Cleland brought Howden's headquarters back to Scotland in 2004 it retained a base in Renfrew, as well as a plant at Craigton, Glasgow, and facilities in Belfast and the West Midlands.
The company's workforce grew from an average of 708 to 785 during the year.
The highest-paid director earned £474,000, up from £435,000 in 2010.
Colfax bought Howden's Dublin-headquartered parent on January 13, for £1.5 billion.
Mr Cleland announced in May 2011 he was relinquishing the chief executive's post he had held since 1999.
He retired from the board on December 23.