Two North East businesses feature in the inaugural Investec Mid-Market 100 list of the UK’s fastest-growing private companies.
County Durham firms Wear Inns and Greencroft Bottling were the only two firms from the region to make it onto the list, which ranks active, mid-sized companies based in the UK on their four year average percentage turnover growth rate.
Wear Inns, which has its headquarters at Castle Eden, County Durham, soared to number 19 in the rankings, with compound annual growth rate (CAGR) of 46%.
John Weir, chief executive of Wear Inns said: “We are delighted to be ranked 19th on such a prestigious list and it is testament to our strategy for growth and the work of our staff to ensure our pubs provide great value, all day every day.
“This is the third national accolade for Wear Inns in the past 12 months having been highlighted as one of the 1,000 companies to inspire Britain by the London Stock Exchange and one of Real Deal’s top 100 growth companies. We are delighted to be recognised this way.”
Wear Inns, which has its headquarters at Castle Eden, County Durham, recently announced it was planning to expand its estate of 26 pubs in the North East and Yorkshire having seen its turnover increase in 2014 by 14.5% to £13.4m.
The other North East firm to figure in the list was wine bottle Greencroft Bottling, based in Stanley, County Durham. The firm has latest turnover of £22.3m and EBITDA of £2.6m and CAGR of 32%.
The dynamic Investec ranking will be updated twice a year, as part of an exciting new programme that will showcase the strength and importance of Britain’s mid-market.
The 2014 list specifically recognises the successful long-term growth achieved by many family-owned and long-established businesses, including two that can trace their history to the nineteenth century.
London and the South East collectively account for almost two fifths of the list with 22% and 17% respectively. The top-rated company in this year’s Investec Mid-Market 100 was Hamiltons Galleries Limited, one of the world’s leading photographic galleries.
Ed Cottrell of Investec, said: “The UK mid-market contributes nearly £1 trillion of revenues annually and up to a quarter of private sector employment, and it is important that its contribution is understood and recognised. “Through analysis such as the Investec Mid-Market 100, we hope to develop greater appreciation for this vital part of our economy.
“It is great to see mid-market growth coming from all four corners of the UK and across a broad range of industry sectors. We know from our experience of working with mid-sized businesses that they are highly committed to investing for long-term growth and we look forward to seeing these companies go from strength to strength in the future. Congratulations to all of those that have made this year’s Investec Mid-Market 100.”