Friday June 28, 2024 9:19 am
Jeremy Clarkson’s Hawkstone Brewery and sportswear brand Castore, backed by Sir Andy Murray and billionaire brothers Issa, are among Britain’s fastest-growing companies.
According to the annual list published by The Sunday Times, digital bank Allica topped the list with a turnover of £191 million, a growth of almost 537 percent in three years.
Castore, which was ranked 34th on the new list, was named the second fastest growing company in the UK in the 2023 edition.
The Manchester-based company recently made its first acquisition since it was valued at almost £1bn.
According to the Times, turnover was £190 million, an increase of 124 percent.
Jeremy Clarkson and Castore are doing well
Castore was founded in Liverpool by brothers Thomas and Phil Beahon. It has since relocated its headquarters and has also attracted investment from the likes of New Look founder Tom Singh, PureGym co-founders Peter Roberts and Brian Scurrah, and Working Title Films co-chair Eric Fellner.
Hawkstone Lager is made by Jeremy Clarkson using ingredients grown on his Diddly Squat Farm in Chipping Norton, Oxfordshire.
Hawkstone is ranked 24th on the list, with a turnover of £7.8 million, up 143 per cent on last year.
In this year’s list, Birmingham-based healthcare recruitment and consultancy firm Clive Henry Group has been named the second fastest growing company, with average annual turnover more than tripling.
Meanwhile, food and nutrition brands are making progress this year, with nutritional supplement brand Rheal, CBD drinks and oils maker Trip and health supplement brand Ancient + Brave rounding out the top five.
The latest research, which shows which private companies in enterprising Britain are fast climbing the rankings, shows that a quarter of the top 100 are founded by women.
However, this is slightly less than the 28 female entrepreneurs who were in the top 100 of the rankings last year.
Less than half of the companies on the list are based in London – 43 – the rest are spread across the country.
London’s 10 Fastest Growing Companies
- Alicia Bank – Revenue up 536.98 per cent over three years with latest revenue of £191m
- Drinks and supplements brand Trip – up 224.75 per cent and turnover of £20m
- Consumer products for babies and young people Heroes – increase of 201.43 per cent and sales of £82.2 million
- Consumer cleaning products company Purdy & Figg – up 187.76 per cent on turnover of £18.3m
- Management consultancy Liqueo – up 186.35 per cent and turnover of £19m
- Customer experience consultancy Ethos Farm – 182.73 per cent increase, £24.5m turnover
- Media agency The Alliance – increase of 167.6 percent and turnover of £13.3 million
- Event producer Creation – up 163.57 per cent and turnover of £8.5m
- Children’s audio platform Yoto – up 159.12 per cent and revenue of £52m
- STEM recruitment and staffing company Linnk Group – up 157.15 per cent and turnover of £29m
“We have been able to grow the brand and maintain the heart and soul of the company.”
Manchester-based fashion brand Six Stories also made the top 20 of this year’s list.
Founded in 2019 by husband and wife team Ross and Lucy Menghini, the e-commerce company sells a range of bridal wear, creating a wardrobe of high-quality, fashionable and statement pieces for every bridal appointment right through to the wedding day.
Lucy Menghini said: “Being named in the Sunday Times 100 Fastest Growing Companies for 2024 is something I am incredibly proud of.
“Ross and I have been able to grow the brand and keep the core of the company intact.
“When we started this journey, we wanted to create a brand that makes brides feel special every step of the way, creating high-quality bridal wear and becoming a ‘one-stop shop’ for all those personal items for the big day of a bride.”
Sales increased while thousands of jobs were created
Research for The Sunday Times 100 found that the 100 fastest-growing private companies have seen their turnover increase by an average of 118 per cent per year over the past three years, to a combined turnover of £2.9 billion.
In total, these companies employ 13,670 people, creating 10,000 new jobs over the past three years. 99 of them are planning further recruitments over the next twelve months, amounting to around 3,800 additional roles.
Of the 100 companies in the ranking, over a third (43) are based in London, with the remainder spread across the country.
This includes 12 in the Midlands, 11 in the South East, 10 in the North West and nine in the South West of England.
In total, 25 of the companies have female founders or co-founders, including Kate Prince of health supplement brand Ancient + Brave, which ranked number five on the list.
Fans of the company include sportswoman Dame Kelly Holmes and pop star Ellie Goulding. The company generated a turnover of £10.2m last year.
International trade remains important
More than two-thirds of the companies (69) were founded in the past ten years – in 2014 or later.
The oldest company on the list is Wilson Power Solutions, a power transformer manufacturer from Leeds (No. 99).
It was founded in 1946 by Richard Wilson to supply flameproof equipment, pumps and motors.
His children Colin and Dennis built the company into one of the largest suppliers of remanufactured transformers and switchgear to the industry, and it is now run by apprentice-turned-director Erika Wilson.
Nearly two-thirds of companies (63) do business internationally, including Heroes, which ranks eighth.
Founded by three brothers in 2020 to acquire companies selling through the Amazon marketplace, with a focus on consumer products for babies and young people,
The company has since raised more than £200m from investors and generated 70 per cent of its £82.2m turnover overseas last year.