Friday, June 28, 2024 9:19 a.m
Jeremy Clarkson’s Hawkstone brewery and sportswear brand Castore, which is backed by Sir Andy Murray and billionaire Issa brothers, has been named among Britain’s fastest growing companies.
According to the annual list published by The Sunday Times, digital bank Allica came out on top with revenues of £191m, an increase of almost 537 per cent in three years.
Castore, ranked 34th in the new list, has been named Britain’s second fastest growing company in the 2023 edition.
The Manchester-based company recently made its first acquisition since being valued at nearly £1bn.
The Times reported that sales reached £190 million, a 124 percent increase.
Jeremy Clarkson and Castore make class
Castore was founded in Liverpool by brothers Thomas and Phil Beahon. It has since relocated its headquarters and also attracted investment from New Look founder Tom Singh, PureGym co-founders Peter Roberts and Brian Scurrah, and Eric Fellner, co-chairman of Working Title Films.
Hawkstone Lager was created by Jeremy Clarkson from ingredients grown at his Diddly Squat Farm in Chipping Norton, Oxfordshire.
Hawkstone came 24th on the list with sales of £7.8m, up 143 per cent on last year.
In this year’s list, Birmingham-based healthcare recruitment and consultancy Clive Henry Group was named as the second fastest growing company, with average annual turnover more than tripling.
Meanwhile, food and nutrition brands are making strides this year, with dietary supplement brand Rheal, CBD drink and oil maker Trip, and health supplement brand Ancient + Brave rounding out the top five.
The latest research showing which private businesses are rising fast in entrepreneurial Britain reveals that a quarter of the top 100 were founded by women.
However, this is slightly less than the 28 businesswomen who made it into the top 100 in last year’s ranking.
Less than half of the companies on the list are based in London – 43 – and the rest are spread across the country.
London’s 10 Fastest Growing Companies
- Alicia Bank – Revenue up 536.98 per cent over three years and latest £191m
- Drinks and accessories brand Trip – up 224.75 per cent on sales of £20m
- Heroes Children’s and Youth Consumer Products – up 201.43 per cent on sales of £82.2m
- Purdy & Figg in consumer cleaning products – up 187.76 per cent on sales of £18.3m
- Management consultancy Liqueo – up 186.35 per cent and £19m in revenue
- Ethos Farm Customer Experience Consultancy – 182.73 per cent growth and £24.5m in revenue
- Media agency The Alliance – up 167.6 per cent on revenues of £13.3m
- Events producer Creation – up 163.57 per cent on £8.5m in revenue
- Children’s audio platform Yoto – up 159.12 per cent and £52m in revenue
- STEM recruitment and staffing company Linnk Group – up 157.15 per cent and £29m in revenue
“We were able to grow the brand and keep the heart and soul of the business”
Manchester-based fashion brand Six Stories was also in the top twenty of this year’s ranking.
Founded by husband and wife duo Ross and Lucy Menghini in 2019, the e-commerce business sells a range of bridal wear that provides a wardrobe of high-quality, fashion-forward and statement pieces for every engagement to wedding day.
Lucy Menghini said: “Being 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 heart and soul of the business exactly the same.
“When we set out on this journey, we wanted to create a brand that would make brides feel special every step of the way with high-quality bridal wear that would become a one-stop shop for all those personal items for the bride’s big day.”
Sales increased as thousands of jobs were created
The survey for The Sunday Times 100 found that the 100 fastest-growing private companies have on average increased their sales by 118 per cent a year over the past three years to a total of £2.9bn.
In total, these companies employ 13,670 people and have created 10,000 new jobs over the past three years. 99 of these plan to hire more in the next 12 months, which equates to around 3,800 additional roles.
Of the 100 companies featured in the ranking, over a third (43) are based in London, with the rest 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.
A total of 25 businesses have female founders or co-founders, including Kate Prince of health supplement brand Ancient + Brave, who ranked fifth on the list.
The company’s fans include sportswoman Dame Kelly Holmes and pop star Ellie Goulding, which generated sales of £10.2m in the past year.
International trade remains important
More than two-thirds of the companies (69) were founded in the last decade – in 2014 or later.
The oldest company on the list is Leeds-based power transformer manufacturer Wilson Power Solutions (#99).
It was founded in 1946 by Richard Wilson to provide fireproof equipment, pumps and motors.
His children, Colin and Dennis, have built the business into one of the largest suppliers of refurbished transformers and switchgear to the industry, and it is now led by apprentice-turned-managing director Erika Wilson.
Almost two-thirds of the companies (63) trade internationally, including Heroes, which ranked eighth.
The company was founded by three brothers in 2020 to buy companies selling through the Amazon marketplace, focusing on consumer products for children and youth,
The business has since raised more than £200m from investors and generated 70 per cent of its £82.2m revenue overseas last year.