Sunday 1 October 2017

BRITAIN’S 250 PRIVATE MID-MARKET GROWTH COMPANIES

ARE BOOSTING PROFITS & JOBS

Published today, the 13th annual Sunday Times Grant Thornton Top Track 250 league table ranks Britain’s private mid-market growth companies with the biggest sales. The 250 companies achieved combined sales of £62.4bn, a 16% increase year-on-year, record profits of £5.4bn, up 34%, and they employ a total of 384,200 people, up 10%. Almost half the table, 120 companies, were not on the league table in 2016, including Fat Face, Richer Sounds and Waterstones, and 82 firms feature for the very first time. These companies feature alongside other established brands including Travelodge, Lush and Betfred, and leading new brands such as Footasylum, Matchesfashion.com and PureGym. Seven of the top 10 companies with biggest profits are headquartered outside of London and the southeast of England, including health food and supplements retailer Holland & Barrett; as are four of the top 10 with the fastest-growing sales, such as The Hut Group. The top spot on the league table goes to McLaren Automotive. The sports and supercar maker completed its 10,000th sports car last December, only five years after the first rolled out of its hi-tech production centre. The Surrey-based manufacturer sold 3,286 vehicles during 2016, with demand from North America and Europe helping double profits to £65.8m on sales of £649.8m, up 44% from 2015. In July it was brought together with McLaren Technology Group, which owns the Formula One team, under the McLaren Group. The league table and awards programme is sponsored by Grant Thornton and Lloyds Banking Group, and compiled by Fast Track, the Oxford-based research and networking events firm. Sacha Romanovitch, chief executive of Grant Thornton UK LLP, the title sponsor of the league table, praised the companies for their performance:

“The UK may be at a pivotal point in its history, but the Top Track 250 clearly demonstrates what can be achieved by exciting dynamic businesses. These companies think locally and act globally, they innovate to grow and embrace an entrepreneurial spirit that this country needs to secure a positive post-Brexit future. At Grant Thornton we are seeking to stimulate ideas and actions that can help shape a vibrant UK economy that thrives. We can all learn a lot from the Top Track 250.”

Top 10 private mid-market growth companies in the UK

Rank

[2016

rank]

Company

Activity HQ location

Sales

£m

Profit

£m^ Staff

Year

end Main shareholders

1

[19]

McLaren Automotive

Sports and supercar

maker

Woking, Surrey 650 66 1,606 Dec 16

Bahrain Mumtalakat Holding

Company (57%), TAG Group (12%),

other investors (31%)

2

[7]

IM Group

Car distributor

Coleshill, nr.

Birmingham 627 96 460 Dec 16 Lord Edmiston (100%)

3

City Facilities

Management

Facilities maintenance

provider

Glasgow 618 15 11,844 Dec 16 Lord William, Lady Susan and

Kenny Haughey (99%), other (1%)

4

Telereal Trillium

Property investor and

developer

Central London *616 *189 270 Mar 17 Pears family and management

(100%)

Rank

[2016

rank]

Company

Activity HQ location

Sales

£m

Profit

£m^ Staff

Year

end Main shareholders

5

Murphy

Civil engineering

contractor

Central London *614 *15 3,206 Dec 16 Murphy family (100%)

6

[11]

Harwoods

Car dealer West Sussex 613 13 864 Dec 16 Guy Harwood and family (100%)

7

Holland & Barrett

Health food and

supplements retailer

Warwickshire 612 150 6,726 Sep 16 LetterOne (>50%), management

(<50%)

8

[10]

Travelodge

Budget hotel operator Oxfordshire 598 61 10,350 Dec 16

Institutional investors (>50%),

management (<50%)

9 Aston Martin

Sports car maker Warwickshire 593 16 1,609 Dec 16

Institutional investors (>50%),

management (<50%)

10

[15]

CALA Group

Housebuilder Edinburgh 587 84 810 Jun 16

Legal & General & Patron Haut LP

(93%), management (7%)

^ Profit = operating profit * Supplied by the company

KEY FINDINGS This year’s league table shows that Britain’s private mid-market growth companies have prospered following UK’s Brexit vote; and, despite increased economic uncertainty, have positioned themselves for further expansion. The league table complements the Top Track 100 league table of Britain’s biggest private companies by ranking the next 250-biggest companies by sales, provided they meet our growth and profitability criteria. Themes International activity: More than half the companies trade overseas with 126 operating at least one overseas subsidiary. On average, these companies grew international sales by 36% in their latest year. Female leadership: The issue of gender diversity has risen up the business agenda in recent years. More than half of this year’s Top Track 250 companies (52%) have one or more female directors, although women only make up 14% of the total, with 208 directors. Sectors: Services and retail are the two largest sectors with 83 and 64 companies respectively, representing more than half of the league table (59%). There are 39 manufacturers, 39 construction firms, and 33 wholesalers; while 8 companies operate in more than one sector. Majority ownership: A third of the companies (80) are majority-owned by their founders or entrepreneurs; 75 are family-owned and 71 are majority-owned by one or more private-equity firms. The remaining are owned by their management and staff (24). Regions: London is home to 68 companies and the southeast 46. Yorkshire and the northeast have 32, Scotland 22, the northwest 21, the West Midlands 17, East 15, southwest 11, the East Midlands 8, Northern Ireland 7, and Wales has 3. The full league table is published as a ten-page broadsheet supplement with the business section of The Sunday Times on 1 October, both in print and in the digital edition, and on www.fasttrack.co.uk. See Appendix 1 for the full league table

THE TOP TRACK 250 ONES TO WATCH The Top Track 250 ‘Ones to Watch’ is a programme that showcases 10 private mid-market growth companies from a variety of industries that did not meet the financial criteria to rank in this year’s Top Track 250 league table, but whose sustained growth or plans for the future merit recognition. They include Blatchford, a prosthetics and orthotics manufacturer whose sales grew 18% to £75m last year, partly helped by acquisitions, and which is forecasting strong sales growth for this year; restaurant chain Bill’s, which has grown to 80 sites since 2004, serving 7.5m customers annually, and which is forecasting sales growth of 12% this year to £124m; and SLR, the environmental consultancy, which has made 20 acquisitions since 2005, and whose projects include water-resilience testing for Coca-Cola in Namibia; it is planning further expansion in the US and elsewhere. See Appendix 2 for the 10 Ones to Watch companies

ENDS

PLEASE CREDIT IN FULL: THE SUNDAY TIMES GRANT THORNTON TOP TRACK 250 For further information, please contact:

Mike Harding, senior research manager, Fast Track: 01865 297015; mike.harding@fasttrack.co.uk

Follow us on Twitter @ST_FastTrack #TopTrack250

Notes for editors

Fast Track has published league tables of the UK’s top-performing private companies with The Sunday Times

for the past 20 years. The company was founded and is run by Dr Hamish Stevenson, who also holds an

associate fellowship at Green Templeton College, Oxford University.

Previous Top Track 250 success stories include appliance maker Dyson, which first featured in 2005 with sales

of just £277m, and this year featured on our Top Track 100 with sales of £2.5bn and profits of £631m. Virgin

Money also debuted in 2005 when its sales were £241m; its market cap now is £1.2bn, having floated in

November 2014. And B&M, the value retailer, first featured in 2009 with sales of £256m and floated in June

2014 with a market capitalisation of £2.7bn. Dental care provider Oasis Dental Care first appeared in 2013 with

sales of £149m and was acquired by Bupa last November for £835m. And last year, Skyscanner made its

debut on the table with £120m in sales, and was sold two months later, in November, to China’s CTrip for a

reported £1.4bn.

League table criteria:

Companies are ranked by sales in their latest available accounts. The league table complements the Top Track

100 league table of Britain’s biggest private companies by listing the next 250 growth firms.

Companies are required to have operating margins that exceed 2% and sales must be growing year-on-year by

5% or more for the highest turnover companies, graduated to 10% or more for those with the lowest turnover. If

sales growth was insufficient we considered profit growth using the same procedure.

Companies have to be limited and registered in the UK, unquoted, and not subsidiaries. Companies may have

their ultimate holding company offshore. Companies where the majority of turnover is generated by a quoted

subsidiary are excluded, as are not-for-profit companies, cooperative societies, member-owned buying groups,

mutual societies, provident associations, betting exchanges, and partnerships such as lawyers and

accountants.

The research was carried out by Fast Track and accounts filed later than 21 July 2017 may not have been

considered in compiling the league table.

The sponsors do not endorse, guarantee or recommend investment in any of the companies and some

exceptions were made to the qualification criteria.

About our sponsors

Grant Thornton UK LLP

Grant Thornton UK LLP is part of one of the world's leading organisations of independent advisory, tax and audit firms. We help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. Our underlying purpose is to build a vibrant economy, based on trust and integrity in markets, dynamic

businesses, and communities where businesses and people thrive. We work with banks, regulators and the

government to rebuild trust through corporate renewal reviews, advice on corporate governance, and

remediation in financial services. We work with dynamic organisations to help them grow in the UK and

internationally, and work with the public sector to build a business environment that supports growth, including

national and local public services.

www.grant-thornton.co.uk @GrantThorntonUK

Lloyds Banking Group Lloyds Banking Group has long supported businesses and the nation’s economic prosperity, primarily focused on UK businesses and those with strong links to the UK. Lloyds Bank and Bank of Scotland provide support to clients through the provision of core banking solutions, such as Lending, Deposits, Transaction Banking and Risk Management services while also offering expertise in Capital Markets, Financial Markets and Private Equity. This enables us to meet the varying and often complex needs of our business clients, regardless of their size, sector, location or objectives. Our commitment to putting our clients first is as relevant today as it’s ever been. www.lloydsbank.com/business @lloydsbankbiz www.bankofscotland.co.uk/business @bankofscotbiz Appendix 1 Top Track 250: The UK’s private mid-market growth companies

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

1

[19]

McLaren Automotive

Sports and supercar maker

Woking, Surrey 650 66 1,606 Dec 16 Bahrain Mumtalakat Holding Company (57%), TAG Group (12%), other investors (31%)

2

[7]

IM Group

Car distributor Coleshill, nr. Birmingham

627 96 460 Dec 16 Lord Edmiston (100%)

3

City Facilities Management

Facilities maintenance provider

Glasgow 618 15 11,844 Dec 16 Lord William, Lady Susan and Kenny Haughey (99%), other (1%)

4 Telereal Trillium

Property investor and developer

Central London *616 *189 270 Mar 17 Pears family and management (100%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

5 Murphy

Civil engineering contractor

Central London *614 *15 3,206 Dec 16 Murphy family (100%)

6

[11]

Harwoods

Car dealer West Sussex 613 13 864 Dec 16 Guy Harwood and family (100%)

7 Holland & Barrett

Health food and supplements retailer

Warwickshire 612 150 6,726 Sep 16 LetterOne (>50%), management (<50%)

8

[10]

Travelodge

Budget hotel operator Oxfordshire 598 61 10,350 Dec 16

Institutional investors (>50%), management (<50%)

9 Aston Martin

Sports car maker Warwickshire 593 16 1,609 Dec 16

Institutional investors (>50%), management (<50%)

10

[15]

CALA Group

Housebuilder Edinburgh 587 84 810 Jun 16

Legal & General & Patron Haut LP (93%), management (7%)

11

[14]

Helston Garages

Car dealer Cornwall 586 15 1,033 Dec 16

David and Betty Carr (90%), Andy Barrett (10%)

12 BGL Group

Insurance/price comparison provider

Peterborough *585 *130 2,667 Jun 17 Family trusts (90.5%), management (9.5%)

13 LCC Group

Energy distributor Co Tyrone 585 21 233 Sep 16 Loughran family (100%)

14

[21]

Robertson

Construction services provider

Stirling *579 *25 1,943 Mar 17 Robertson family (100%)

15 Betfred

Bookmaker Warrington 579 40 6,124 Sep 16

Fred and Peter Done and family (100%)

16 GRAHAM

Construction contractor Co Down 566 16 1,844 Mar 17

Michael Graham (29%), Colin Graham (27%), Robin Graham (26%), Alan Bill (9%), Andrew Bill (9%)

17

[13]

Miller Homes

Housebuilder Edinburgh 565 99 740 Dec 16

Bridgepoint (55%), Shackleton Capital Partners (22%), Lloyds Banking Group (9%), others (14%)

18

[17]

Southall Travel

Travel agency and tour operator

West London *564 *22 43 Mar 17 Kuljinder Bahia (54%), Raybon (28%) and Geomex Holding (18%)

19

[18]

Car Giant

Car dealer West London 552 51 740 Dec 15 Geoffrey Warren (100%)

20 Eastern Western Motor Group

Car dealer West Lothian 550 12 1,129 Dec 16 Douglas Brown (100%)

21 Careys

Specialist construction Wembley 549 20 1,463 Mar 17

John Carey (40%), Patrick Carey (30%), Thomas Carey (30%)

22

[1]

Virgin Active

Health club operator Central London 535 54 12,555 Dec 16

Brait (80%), Sir Richard Branson (20%)

23 West Retail Group

Kitchens/electronics retailer

North Lincolnshire 524 12 3,302 Dec 16 VIDA Capital Partners (100%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

24 CP Holdings

Conglomerate Watford 524 27 7,285 Dec 16 Schreier family trusts (100%)

25 Karro Food Group

Pork processor North Yorkshire †515 †23 3,780 Dec 16

CapVest (>50%), management (<50%)

26

[40]

The Hut Group

Online retailer Cheshire 501 30 1,833 Dec 16

Founders & management (40%), private equity consortium & other investors (60%)

27 NG Bailey

Mechanical, electrical contractor

West Yorkshire 500 12 2,776 Feb 17 Bailey family (100%)

28 James Hall & Co

Grocery wholesaler Preston 486 10 2,622 Mar 16 Hall family (100%)

29

[26]

Turner & Townsend

Construction consultancy Leeds †*482 †*46 4,674 Apr 17

Vincent Clancy (6%), others members of staff (94%)

30

[44]

ED & F Man

Commodities and logistics manager

Central London 481 127 6,885 Sep 16 Employees (65%), Südzucker AG (35%)

31

[28]

Dick Lovett Companies

Car dealer Swindon 475 10 717 Dec 16 Peter Lovett (100%)

32 Winvic Construction

Construction contractor Northampton *462 *29 175 Jan 17

David Ward (27%), Simon Girardier (27%), Simon Hunt (27%), other (19%)

33

[24]

Glyn Hopkin

Car dealer Romford 456 10 850 Dec 16

Glyn Hopkin (61%), other management (39%)

34

[31]

Almac

Pharmaceuticals manufacturer

Co Armagh 447 27 3,975 Sep 16 McClay Foundation (100%)

35

[52]

Hyperion Insurance Group

Insurance broker and underwriter

Central London 434 65 3,587 Sep 16 Management & staff (65%), General Atlantic (35%)

36

[29]

Parkdean Resorts

Holiday parks operator Newcastle upon Tyne

432 82 5,248 Dec 16 Onex Corp + co investors (80%), management & others (<20%)

37

Buckingham Group Contracting

Civil engineering contractor

Stowe, Bucks 408 13 427 Dec 16

Paul Wheeler and family (50%), Kevin Underwood (14%), Michael Kempley (14%), Timothy Brown (14%), other management (8%)

38

[43]

Lush

Cosmetics manufacturer and retailer

Poole 395 16 7,498 Jun 16 Mark Constantine (38%), Mo Constantine (24%), Andrew Gerrie (22%), others (16%)

39

[30]

telent

Infrastructure services provider

Warwick 392 25 1,805 Mar 17 Tusk Investments (100%)

40

[36]

Tennants Consolidated

Chemicals conglomerate Central London 387 30 1,185 Dec 16

Alexander family (78%), others (22%)

41 Waterstones

Book retailer Central London †387 †19 2,922 Apr 16

A&NN Capital Fund Management (100%)

42

[33]

Zenith

Vehicle contract hire & leasing

Leeds 383 30 497 Mar 16 Bridgepoint (>50%), management (<50%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

43 Exterion Media

Outdoor advertiser Central London 381 15 890 Dec 16

Platinum Equity (>50%), management (<50%)

44

[38]

Robinsons Motor Group

Car dealer Norwich *378 *9 670 Dec 16

Robinson family (90%), management (10%)

45

[62]

Keltbray Group

Specialist engineering contractor

Surrey 369 24 1,323 Oct 16 Brendan Kerr & family trust (100%)

46 Avant Homes

Housebuilder Chesterfield 369 45 588 Apr 17

Alchemy Special Opportunities, Angelo Gordon and Avenue Capital (100%)

47

[51]

Hill

Housebuilder Waltham Abbey, Essex

367 36 381 Dec 16 Hill family (95.5%), employee trust and management (4.5%)

48

[74]

Sky Betting and Gaming

Bookmaker Leeds *364 * 818 Jun 16

CVC Capital Partners (80%), Sky plc (20%)

49

[50]

Day Lewis

Pharmaceuticals retailer Croydon *363 *21 2,388 Mar 17 Patel family (100%)

50

[58]

AvailableCar

Car dealer Castle Donington 341 8 717 Dec 16 Graham & Alison Bell (100%)

51

[47]

Study Group

Education service provider Central London *340 *17 3,325 Dec 16

Providence Equity Partners, Bromlee Superannuation Pty, management

52 David Lloyd Leisure

Health club operator Hertfordshire 336 44 4,161 Jan 16

TDR Capital (>50%), management (<50%)

53 Dorchester Collection

Luxury hotel operator Central London 336 24 3,082 Dec 15 Brunei Investment Agency (100%)

54

[59]

Westover Group

Car dealer Bournemouth 333 8 806 Dec 16 Peter Wood and family trust (100%)

55

[55]

Kurt Geiger

Shoe retailer Central London *330 ‡*34 2,291 Dec 16

Cinven (>50%), management (<50%)

56 Chelsea Football Club

Football club Southwest London

329 25 785 Jun 16 Roman Abramovich (100%)

57

[53]

Caffè Nero

Coffee house operator Central London *329 *26 5,500 May 17

Paladin Partners, Gerry Ford, employees

58

[66]

Nisbets

Catering equipment supplier

Bristol 328 36 1,643 Dec 16 Andrew Nisbet (96%), Management (4%)

59 Turners (Soham)

Distribution and warehousing

Newmarket *323 *28 2,943 Jan 17 Paul Day (60%), Winifred Day (40%)

60

[60]

William Jackson Food Group

Food producer East Yorkshire 315 18 2,094 Apr 16

Jackson (Oughtred) family (89%), former employees (11%)

61 The Little Group

Book, film and music wholesaler

Eastbourne *306 *17 1,207 Feb 16 Jonathan Little (30%), Andrew Little (30%), Yvette Stafford (30%), Alan & Jean Little (10%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

62

[133]

Randall Parker Food Group

Meat distributor Northamptonshire *303 *6 830 Sep 16

Ron Randall & family (67%), W & J Parker (33%)

63

[109]

LGC

Life science tools provider Southwest London

*303 *53 2,613 Mar 17 KKR (>50%), management (<50%)

64

[145]

Fairview

Housebuilder North London 298 77 218 Dec 16 Employee benefit trust (100%)

65

[93]

Baxters

Food producer Moray Firth †294 †18 1,539 Apr 16

Audrey Baxter (38%), Andrew Baxter (25%), Baxter family trust (18%), Catherine Baxter (18%), James Baxter (1%)

66 Soho House

Private members' clubs Central London *293 ‡*32 4,046 Jan 17

60% Yucaipa Companies 30% Richard Caring 10% Nick Jones, director

67

[71]

JRL Group

Construction contractor Hertfordshire 289 18 706 Dec 16

John Reddington (34%), Peter Moran (33%), Kevin Keegan (33%)

68 RG Carter

Building contractor Norwich 286 7 1,116 Dec 16 Robert Carter and family (100%)

69

[70]

MKM Building Supplies

Builders' merchant Hull 284 21 1,023 Sep 16 Management, Bain Capital

70

[63]

Morris Group

Housebuilder Cheshire 284 50 249 Mar 17

Management (62%), Quayle Munro (23%), GSO (15%)

71

[76]

CNG

Gas and electricity supplier

Harrogate 282 11 114 Apr 16 Jacqui Hall (25.01%), Chris England (25.01%), other management & employees (49.98%)

72

[65]

Voicevale

Dried foods importer Edgeware, Middlesex

281 11 85 Dec 16 Roby Danon (76%), Toyota Tsusho Corporation (24%)

73

[81]

Oak Furniture Land

Furniture retailer Swindon 280 16 1,175 Sep 16 Jason Bannister (100%)

74

[83]

Wrights Group

Bus manufacturer Ballymena, Co Antrim

276 14 1,745 Dec 15 Jeffrey Wright (100%)

75

[57]

Yeo Valley

Yoghurt and dairy maker Somerset 273 12 1,709 May 16 Mead family (100%)

76

[113]

Hatfields

Car dealer Wakefield 270 11 440 Jan 17 Williams family (100%)

77

[95]

Dreams

Bed manufacturer and retailer

High Wycombe 270 33 1,734 Dec 16 Sun Capital (94%), management (6%)

78

[87]

Civica

Software & IT services Southwest London

268 12 2,912 Sep 16 Partners Group (>50%), management (<50%)

79

[82]

Resource Solutions Group

Recruitment consultancy Bristol 267 13 222 Jun 16

Keith Dawe (89%), Sanderson Computer Recruitment Executive Scheme (10%), Joanna Dawe (1%)

80 HH Global

Marketing services provider

Leatherhead 267 11 827 Mar 17 Robert MacMillan (60%), Sanne Trust (25%), others (15%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

81

[154]

Arora Group

Hotel operator West London *260 *115 2,000 Mar 17 Surinder Arora (100%)

82

[111]

Whitworth Bros

Flour miller Wellingborough 259 11 520 Mar 17 Martin George and family (100%)

83 AllSaints

Fashion retailer East London 252 17 2,714 Jan 16 Lion Capital (100%)

84

[72]

FM Conway

Infrastructure services provider

Sevenoaks, Kent *252 *25 1,360 Mar 17 Michael Conway (95%), Kim Conway (5%)

85

[107]

The Swift Group

Caravan and motorhome manufacturer

East Yorkshire 252 17 1,088 Aug 16 Management (59%), Smith family (33%), other (8%)

86

[100]

Busy Bees

Nurseries operator Staffordshire 249 12 7,585 Dec 16

Ontario teachers Pension Plan (80%), management (20%)

87

[116]

O'Halloran & O'Brien

Construction contractor Surrey 248 22 139 Mar 17 O'Brien Family (100%)

88

[92]

Marex Spectron

Commodities and futures broker

Central London 245 19 500 Dec 16 JRJ Group (>50%), management (<50%)

89

[89]

Martin-Baker

Ejection seat manufacturer Nr. Uxbridge 242 67 870 Mar 16

James Martin (18%), John Martin (16%), Martin family (66%)

90

[80]

The Emerson Group

Builder, property developer

Cheshire *240 *85 606 Apr 17 Jones family trusts (100%)

91

[102]

Norbrook Laboratories

Pharmaceuticals manufacturer

Co Down 239 39 2,224 Jul 16 The Lord Ballyedmond family trust (100%)

92 Addo Food Group

Food producer Nottingham 236 10 2,564 Mar 16 LDC (>50%), management (<50%)

93

[99]

ProCam Europe

Crop protection specialist Cambridgeshire 236 7 544 Dec 16

Tony White (67%), Ian Beswick (18%), Chris Butt (11%), White discretionary trust (4%)

94

[106]

T.O.M. Vehicle Rental

Commercial vehicle hire North Lanarkshire *235 *16 574 Mar 17

Equistone Partners Europe (>50%), Rafferty family and management (<50%)

95

[94]

Encon

Insulation distributor West Yorkshire *230 *12 600 Jul 17

Stuart Moore (73%), management (27%)

96

[90]

Wagamama

Noodle bar operator Central London 230 18 4,483 Apr 16

Duke Street Capital and Hutton Collins (69%, Duke Street majority partner), management & other shareholders (31%)

97

[166]

Kingsland Drinks

Alcoholic drinks distributor Manchester 229 5 329 Jun 16 Management (100%)

98

[108]

LA International

IT recruitment consultancy Stoke-on-Trent *228 *12 106 Jun 17

Paul Luckic (93%), other management (7%)

99

[138]

FP McCann

Civil engineering contractor

Londonderry 227 20 1,319 Dec 16 McCann family (100%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

100 Ambassador Theatre Group

Theatre operator Woking, Surrey 226 14 3,860 Mar 16

Providence Equity Partners (> 50%), Exponent (18%), management (< 32%)

101 Maritime Group

Container transport and logistics

Suffolk 226 11 2,036 Dec 16 John Williams (100%)

102 Lagan Construction Group

Builder and civil engineer Belfast 226 7 527 Mar 16 The Lagan family (100%)

103 HKS Retail

Fuel forecourt operator Leicester *225 *7 653 May 17 Thakrar family (100%)

104 Fat Face

Clothing retailer Hampshire 221 24 2,814 May 16

Bridgepoint (65%), founders & management (35%)

105 Lucy Group

Electrical control technology

Oxford 217 16 1,322 Dec 15 Dick Family (100%)

106 LWC

Drinks distributor Manchester 215 10 669 Sep 16

Robin Gray (88%), Ebrahim Mukadam (12%)

107

[163]

Together

Specialist lender Cheshire 215 104 424 Jun 16 Henry Moser (100%)

108

[144]

Element

Testing & certification services provider

Central London 213 47 1,832 Dec 16 Bridgepoint (>50%), management (<50%)

109

[135]

Charles Tyrwhitt

Clothing retailer Central London *211 ‡*12 1,048 Jul 17

Nick Wheeler & family (95%), Peter Higgins (5%)

110

[134]

DCS Group (UK)

Toiletry products distributor

Banbury *211 *5 298 Dec 16 Denys Shortt (85%), Lydia Shortt (5%), Charles Shortt (5%), Deborah Shortt (5%)

111

[104]

Imagination

Creative agency Central London 210 7 675 Aug 16

Gary Withers, founder & chairman, other management and employees (100%)

112

[148]

QA

Training & education provider

Central London †*210 †*38 1,778 Jun 17 CVC Capital (85%), management (15%)

113

[125]

TGI Friday's

Restaurant operator Luton †207 †21 5,239 Jan 17

Electra Private Equity (78%), Sentinel (5%), management (17%)

114 Seddon Solutions

Housebuilding and construction

Bolton 205 5 720 Dec 16 Jonathan Seddon (34%), Nicola Hodkinson (33%), James Seddon (33%)

115 Matchesfashion.com

Luxury fashion retailer Central London 204 16 527 Jan 17

Apax Partners (>50%), management (<50%)

116

[124]

Timpson

Retail services provider Manchester †201 †19 3,774 Oct 16

John Timpson and family trusts (100%)

117

[156]

Callcredit Information Group

Consumer data analyst Leeds *201 *42 1,177 Dec 16

GTCR and co-investors (75%), management (25%)

118

[184]

Lexon

Pharmaceuticals supplier Redditch 200 13 820 Apr 16

Sodha family (77%), Sonpal family (23%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

119

[140]

Yeomans

Car dealer Worthing 199 5 401 Dec 16 Smith family (100%)

120

[139]

Symphony

Furniture supplier Barnsley 199 20 1,569 Dec 16 Douglas Gregory (100%)

121

[218]

Lanes Group

Wastewater services provider

Leeds 197 8 2,084 Jul 17 Wayne Earnshaw (47%), management and other (53%)

122 Rocco Forte Hotels

Luxury hotel owner and manager

Central London 194 16 2,240 Apr 17 Sir Rocco Forte, family and trusts (75%), CDP Equity (23%), third-party investors (2%)

123 Sabre

Insurance underwriter Surrey 191 66 153 Dec 16

BC European Capital (72%), Angus Ball (19%), other management (9%)

124 CH&Co Group

Catering group Reading 191 6 4,688 Dec 16

Management (>60%), MML Capital (<40%)

125

[162]

Travel Counsellors

Travel services provider Manchester 188 12 284 Oct 16

Equistone Partners (>50%), Speakman family and management (<50%)

126 Converse Pharma

Pharmaceuticals distributor

Doncaster 187 4 495 Mar 16 Andrew Wilson (40%), Mark Gulliford (40%), Mawdsleys Group Investments (20%)

127 Michael J Lonsdale

Engineering contractor Slough 187 6 154 Sep 16

Michael Hoodless (60%), Gary Herbert (40%)

128

[132]

Control Risks

Risk management consultancy

Central London 186 11 2,544 Mar 16 Management, employees and ex-employees (100%)

129

[158]

Howarth Timber

Builders' merchant Leeds 186 10 980 Mar 17 Howard family (100%)

130

[143]

Brett Group

Building materials supplier Canterbury 185 11 711 Dec 16 Brett family and trusts (100%)

131

[193]

Mountain Warehouse

Outdoor clothing brand Central London *185 *18 1,850 Feb 17

Mark Neale (85%), management (15%)

132

[136]

The White Company

Lifestyle retailer Central London 184 17 1,437 Mar 16

Chrissie Rucker (99%), Nick Wheeler (1%)

133

[190]

Steven Eagell

Car dealer Milton Keynes *183 *4 458 Dec 16

Steven Eagell (85%), management (15%)

134 Southampton Football Club

Football club Southampton *183 *35 388 Jun 17

Gao Jisheng (80%), Katharina Liebherr (20%)

135 United Living

Building contractor Kent 181 9 506 Mar 17 LDC (68%), Management (32%)

136

[152]

The Car People

Car dealer Wakefield 179 7 440 Apr 16

Carnell family (76%), other management (24%)

137

[183]

Acorn Stairlifts

Stairlift manufacturer West Yorkshire 177 19 1,307 Sep 16 John Jakes (100%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

138

[207]

Peninsula

Employment law consultancy

Manchester *177 *25 2,148 Mar 17 Fred and Peter Done (100%)

139 Ethigen

Pharmaceuticals supplier East Kilbride 177 4 261 May 16

Andrea Kelly (50%), Nigel Kelly (50%)

140

[169]

Country Style Foods

Baker Leeds 176 8 1,866 Apr 16 Wood family (100%)

141 John Grose

Motor dealer Ipswich 176 4 404 Dec 16

Ian Twinley (31%), John Grose (20%), Allison Twinley (20%), other family (29%)

142

[170]

GAP Group

Plant and tool hire Glasgow 175 20 1,566 Mar 17

Douglas Anderson (37.5%), Iain Anderson (37.5%), Maureen Smith (20%), other family and management (5%)

143 Big Motoring World

Car dealer Addington, Kent 175 7 171 Feb 16

Pete Waddell (80%), Trustees of Jack Waddell estate (20%)

144 Story Homes

Housebuilder Carlisle 174 26 354 Mar 17 Story family (94.5%), others (5.5%)

145

[205]

GRS Roadstone Group

Aggregate distributor and waste removal

Nuneaton 174 7 369 Dec 16 Management (75%), Tarmac Trading (25%)

146

[178]

Audley Travel

Tour operator Oxfordshire 173 21 402 Dec 16 3i (>50%), management (<50%)

147 Bridgetown Holdings

Civil engineer and plant hire

Birmingham 173 18 90 May 16 John Kelly (51%), Martin Kelly (49%)

148

[168]

John Cotton Group

Bedding & bed-fillings manufacturer

West Yorkshire 172 15 1,158 Mar 16 Cotton family (100%)

149 Berry Bros. & Rudd

Wine and spirit merchant Central London *171 *6 352 Mar 17 Rudd & Berry families (100%)

150

[173]

Hadleigh Timber Group

Wood panel distributor Blythe Bridge, Stoke-on-Trent

169 11 345 Dec 16 Hadleigh PVT Ltd. (80%), Chris Rudd (20%)

151 Pitch International

Sports marketing agency West London 169 15 51 Mar 16

Paul McGrath (38%), Jonathan Owen (37%), Hans Duikersloot (25%)

152 GreenTech Distribution

Mobile phone recycler and distributor

High Wycombe 168 4 28 Feb 17 Richard Crawley (50%), Lucky Anand (50%)

153

[177]

Wain Group

Housebuilder Carrington, Manchester

168 41 223 Jun 16 Bill & Will Ainscough (100%)

154 Croudace Homes

Housebuilder Surrey 168 20 266 Dec 16 Brotherton-Ratcliffe family (100%)

155 RJ McLeod

Building contractor Glasgow 166 17 459 Nov 16

Clarke family (48%), management (14%), other (38%)

156

[181]

James Walker

Timber merchant West Lothian *165 *14 640 Mar 17

Walker family (70%), John Campbell (24%), employees (6%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

157

[187]

Edinburgh Airport

Airport operator Edinburgh 164 62 602 Dec 16

Global Infrastructure Partners (>50%), management (<50%)

158 Click Travel

Corporate travel management

Birmingham *164 *3 176 Mar 17 Simon McLean (53%), James McLean (40%), others (7%)

159 Morrisroe Group

Groundworks and construction

Borehamwood, Herts

163 14 177 Oct 16 Brian Morrisroe (100%)

160

[211]

Belfield Furnishings

Furniture and furnishings manufacturer

Derbyshire *162 *8 1,888 Dec 16 NorthEdge (>60%), management (<40%)

161 Myriad Healthcare

Care home operator Colchester 162 6 5,828 Mar 16

Paul Jeffery (60%), Craig Griffin (15%), Helena Jeffery (15%), others (10%)

162 Brewers

Decorating materials retailer

Eastbourne 161 8 1,124 Dec 16 Brewer family (100%)

163 Sun Mark

Consumer products wholesaler

West London 161 6 73 Aug 16 Ranger family (100%)

164 Ridgeons

Timber and builders' merchant

Cambridge 160 5 841 Dec 16 Ridgeon family (99%), other (1%)

165

[225]

PureGym

Gym operator Leeds 160 15 676 Dec 16

CCMP (>50%), management (<50%)

166 Fourfront Group

Workplace consultants Surrey 159 5 263 Apr 16

Clive Lucking (22%), Aki Stamatis (19%), James Cornwell (9%), others (50%)

167 Endava

IT services provider Central London *159 *22 3,471 Jun 17

Management and staff (72%), others (28%)

168

[192]

Colt

Ventilation systems provider

Hampshire 158 8 994 Dec 16 O'Hea family (78%), Colt Foundation (22%)

169

[244]

Spark Energy

Energy supplier Selkirk *158 *7 400 Jun 17

Limerston Capital (>50%), management (<50%)

170 Richard Hochfeld

Fruit importer and distributor

Borough Green, Kent

158 3 46 Jun 16 Alan Guindi (40%), Jonathan Jones (40%), Christian Guindi (20%)

171 Richer Sounds

Audio-visual retailer Central London 155 7 508 Apr 16

Julian Richer (95%), Rosie Richer (5%)

172

[209]

Advance Construction Group

Construction services provider

Bellshill, North Lanarkshire

155 8 1,134 Mar 16 Seamus Shields (50%), Daniella Shields (50%)

173

[197]

Weston Group

Housebuilder Essex 154 17 346 Jul 16

Bob Weston (40%), management and other (60%)

174 Dobbies Garden Centres

Garden centre operator Lasswade, Midlothian

154 10 2,766 Mar 16 Midlothian Capital Partners & Hattington Capital (>50%), management (<50%)

175 St Austell Brewery

Brewery, pub-owner and hotelier

Cornwall 153 14 1,381 Dec 16 Hicks family, management and employees (100%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

176

[230]

CCS Media

IT & services reseller Chesterfield 153 4 380 Dec 16

Robert Tomlinson (80%), Alan Honarmand (10%), Terry Betts (10%)

177

[245]

Trainline

Train ticket retailer Central London *153 *18 450 Feb 17 KKR (>50%), management (<50%)

178

[120]

Claranet

IT services provider Central London 153 13 980 Jun 16

Nasser family (>50%), other shareholders (<50%)

179 Tangerine Confectionery

Confectionery manufacturer

Pontefract 152 13 1,499 Dec 15 Blackstone (75%), management (25%)

180 AESSEAL

Seal manufacturer Rotherham 152 21 1,656 Dec 16 Christopher Rea (57%), 3i (43%)

181

[201]

Natures Way Foods

Fresh salad producer West Sussex †152 †10 1,206 Apr 16

Langmead family (88%), Susan Barratt (5%), others (7%)

182

[179]

The Works

Value retailer Coleshill, nr. Birmingham

†151 †9 1,259 May 16 Endless (>50%), Dean Hoyle (>30%), management team (<20%)

183

[219]

John Guest

Tubing and pipe manufacturer

West London 150 31 1,276 Dec 16 Guest family (100%)

184

[216]

Tusker

Car benefit specialists Watford 150 4 155 Dec 16

ECI Partners (76%) and management (24%)

185 Erith Group

Demolition contractor Erith, Kent 150 10 472 Sep 16 Darsey family & trusts (100%)

186 Principle

Brand implementation agency

Huddersfield 150 15 454 Dec 16 Management, including Richard Butterfied (100%)

187

Medequip Assistive Technology

Homecare medical equipment supplier

Middlesex 149 5 631 Dec 16 A Siddall (40%), Jeremy Siddall (18%), Peter Siddall (18%), Clive Siddall (11%), others (13%)

188 Caddick Group

Civil engineer & property developer

West Yorkshire 147 20 447 Aug 16 Paul Caddick (100%)

189

[234]

Willerby

Mobile home maker Hull 147 10 925 Oct 16

Equistone Partners (75%), management (25%)

190 Footasylum

Footwear and fashion retailer

Rochdale *147 *8 1,075 Feb 17 Makin family (90%), John Wardle & David Makin (10%)

191

[191]

WP Group

Fuel and lubricant distributor

Southampton 146 4 145 Dec 16 David Fairchild and management (52%), Barry Fairchild (24%), Sylvia Fairchild (24%)

192 Buy It Direct

Laptop and appliance reseller

Huddersfield *146 *3 276 Mar 17 Nick Glynne and family (88%), Simon Barnett (12%)

193 Birmingham Airport

Airport operator Birmingham 146 46 703 Mar 17

West Midland District Councils (49%), Airport Group Investments Ltd (48%), airport staff (3%)

194

[188]

Reiss

Fashion retailer Central London 145 20 1,401 Jan 16

Warburg Pincus (>50%), David Reiss and family (<50%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

195 Notemachine

Cash machine operator Powys 143 26 987 Jun 16

Corsair Capital (>50%), management (<50%)

196

[227]

Argus Media

Energy information provider

Central London 142 43 757 Jun 16 General Atlantic (>50%), management and others (<50%)

197 Walkers Shortbread

Shortbread & biscuit maker

Banffshire 139 12 1,463 Dec 15 Walker family (100%)

198 Clarion Events

Events organiser West London 139 24 614 Jan 16

Providence Equity Partners (>50%), management (<50%)

199 EBB Paper

Paper and board merchant Farnborough 139 3 290 Dec 16

Jeremy Elliott (36%), Tim Elliott (36%), Elliott family (28%)

200 Cartwright Group

Commercial vehicle body manufacturer

Altrincham *139 *6 891 Mar 17 Cartwright family (100%)

201 Altro

Safety flooring manufacturer

Letchworth Garden City

138 11 783 Dec 16 Kahn family (53%), other management and family (47%)

202

[199]

Silentnight Group

Bed manufacturer Lancashire 137 8 1,018 Jan 16

HIG Capital (75%), management (25%)

203

[239]

Castle View

Leisure services manager Stirling 137 10 4,746 Mar 16

Martin Bell (95%), Caroline Bell (5%)

204 The Right Fuelcard Company

Fuel card provider Leeds 137 3 62 Jun 16

Rontec (45%), Jonathan Turner (41%), Liz Slater (14%)

205 E W Beard

Construction contractor Swindon 137 4 276 Dec 16 Beard family (100%)

206 Stepnell

Civil engineer Rugby 137 3 422 Mar 16 Wakeford family (100%)

207

[220]

James Donaldson Group

Timber merchant Fife 137 8 694 Mar 17

Donaldson family (85%), employees (15%)

208

[222]

Riviera Travel

Tour operator Burton-on-Trent 136 15 121 Nov 16

Phoenix Equity Partners (58%), management (42%)

209 Regatta

Outdoor clothing distributor

Manchester 135 7 712 Jan 16 Black family (100%)

210 Bayford

Conglomerate West Yorkshire 134 3 58 Jun 16 Jonathan Turner (100%)

211

[235]

Moneycorp

International payment services

Central London 133 17 788 Dec 16 Bridgepoint (>50%), management (<50%)

212 Wilson James

Security and facilities manager

Essex *133 *4 3,227 Jul 17 Mark Dobson (56%), Gary Sullivan (28%), Stuart Lowden (15%), other (1%)

213 Park Holidays

Caravan park operator Bexhill-On-Sea 132 23 909 Dec 16

Intermediate Capital Group (>50%), Management (<50%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

214

Adam Smith International

Government reform consultancy

Central London 131 14 187 Dec 15 Management (51%), other individuals (49%)

215 Churchill Contract Services

Facilities services provider Hertfordshire *131 *5 11,987 Jun 17

Joel Briggs (29%), Philip Moxom (29%), Caroline Briggs (18%), Sarah Moxom (18%), Employee benefit trust (6%)

216 Allied Vehicles

Adapted vehicle distributor Glasgow *131 *7 615 Apr 17 Facenna family (98%), other (2%)

217 Grange Hotels

Hotelier Central London 130 43 1,560 Mar 16 Matharu family (100%)

218 Cath Kidston

Lifestyle retailer West London 129 7 847 Mar 17

Baring Private Equity Asia, Cath Kidston, management

219 Optal

Payment services provider Central London *129 *10 38 Dec 16

Management (45%) Other investors (55%)

220 Scottish Leather Group

Leather manufacturer Bridge of Weir, Renfrewshire

129 8 599 Mar 16 Muirhead & Lang families (95%), employees (5%)

221

[237]

CLC Group

Painting and maintenance contractor

Southampton 128 10 1,043 Dec 16 Hilbre Holdings Limited

222

[246]

Scott Group

Industrial supplier Dunfermline *128 *6 997 Dec 16

John Scott (76%), Norman Scott (24%)

223 Hopkins Homes

Housebuilder Suffolk 128 28 136 Apr 16

James Hopkins (93%), Selina Hopkins (7%)

224 Lindum Group

Construction services provider

Lincoln 128 4 590 Nov 16 Chambers family (54%), management & employees (46%)

225 Hadley Group

Rolled metal manufacturer Smethwick, Birmingham

*128 *11 594 Apr 17 Towe family (100%)

226 Frank Recruitment Group

IT recruitment consultancy

Newcastle upon Tyne

126 15 815 Nov 16 TPG (70%), management (30%)

227

[212]

Ecotricity

Green energy supplier Gloucestershire 126 7 627 Apr 16 Dale Vince (100%)

228 Firmdale Hotels

Hotelier Central London 126 15 1,461 Jan 17

Tim and Kit Kemp (96%), Midana Ltd (4%)

229 McGee Group

Demolition contractor Wembley 125 9 450 Nov 16

Brian McGee and family (94%), Paul Hickey (6%)

230

[226]

Gray & Adams

Trailer & vehicle manufacturer

Aberdeenshire 125 8 682 Apr 16 James Gray Jnr (43%), Peter Gray (43%), Marie Gray (14%)

231 Global Tea

Tea & coffee trader Central London 123 3 2,774 Dec 15

Structured International Investments Corp (59%), Ceres Investments (16%), Victoria Park Holidays (14%), Nadeen Ahmed (11%)

Rank [2016 rank]

Company Activity

HQ location Sales

£m Profit £m^

Staff Year end

Main shareholders

232

[247]

Stanmore

Specialist subcontractor Erith, Kent *123 *20 216 Mar 17

Rajbir Manak (99%), Harbhajan Manak (1%)

233 Branston

Potato packager Lincoln 123 8 617 Jul 16

James Dean (23%), Chris Howard (20%), James Truscott (10%), other (47%)

234

NextPharma Technologies

Pharma/biotech manufacturer

Woking, Surrey 123 21 959 Dec 16 CapVest Partners (>50%), management (<50%)

235 Ralawise.com

Clothing distributor Flintshire 123 9 527 Dec 16 Batson family (100%)

236 Newship

Conglomerate Southwest London

122 6 528 Dec 15 J W Newman and family (95%), other (5%)

237

[221]

Crown Oil

Fuel and lubricant distributor

Bury 122 6 224 Aug 16 Greensmith family (100%)

238 Millennium Group

Food and drink distributor Essex 122 6 58 May 16

Panna Mashru (90%), Rishi Lakhani (10%)

239 Côte Restaurants

Restaurant operator Central London 122 11 2,727 Jul 16

BC Partners (>50%), management (<50%)

240 Walters Group

Civil engineering conglomerate

Mid Glamorgan 121 25 482 Feb 16 Trustees of the Walters family trust (100%)

241 Burnley Football Club

Football club Burnley *120 *25 220 Jun 17

Mike Garlick (49%), John Banaszkiewicz (28%), other (23%)

242

[241]

Paperchase Products

Stationery and card retailer

Central London 119 5 2,006 Jan 17 Primary Capital Partners (81%), management (19%)

243 C.J. O'Shea Group

Residential developer & contractor

Northwest London †119 †5 168 Mar 16 Anne O'Shea (50%), Crohan O'Shea (50%)

244 Lakesmere Group

Roofing and cladding services

Winnall, Winchester

119 4 831 Jan 16 Management (100%)

245 Technetix

Telecoms equipment maker

West Sussex 119 5 195 Dec 16 Paul Broadhurst (70%), Duncan McIntyre (7%), others (23%)

246 Runwood Homes

Residential homes operator

Essex 117 20 4,488 Sep 16 Gordon Sanders (100%)

247 Archant

Newspaper, magazine publisher

Norwich 116 5 1,459 Dec 15 Colman and Copeman families, management and former staff (100%)

248 APS Group

Marketing services provider

Cheshire 114 4 779 Jan 17 Nick Snelson (82%), Erica Snelson (18%)

249

[248]

London City Airport

Airport operator East London *114 *37 516 Dec 16

Institutional investors (inc. Ontario Teachers’ pension fund, AIMCo, OMERS & Wren House) (>50%), management (<50%)

250 Apogee Corporation

Document handling services provider

Southwest London

113 12 424 Dec 16 Equistone Private Equity (>50%), management (<50%)

^ Profit = operating profit * Supplied by the company † Annualised figure ‡ = EBITDA

Appendix 2 Top Track 250 Ones to Watch Showcased below are 10 private mid-market growth companies from a variety of industries that did not meet the financial criteria to rank in this year’s Top Track 250 league table, but whose sustained growth or plans for the future merit recognition.

Company Activity

HQ location Sales £m Profit £m^ Staff Year end

AKA

Marketing communications network Central London *80 *4 338 Mar 17

Bill's Restaurants

Restaurant operator Central London 111 8 2,909 Jul 16

Blatchford

Prosthetics, orthotics manufacturer Basingstoke 75 6 781 Mar 16

Bullitt Group

Consumer electronics designer Reading 100 -1 98 Dec 16

Deliveroo

Online takeaway platform Central London 129 -141 1,049 Dec 16

Jamie's Italian

Restaurant operator Central London *113 *2 2,548 Jan 17

McMullen's Brewery

Brewery and pub operator Hertford †78 †12 1,137 Oct 16

SHB Hire

Vehicle hire & leasing Hampshire 87 12 658 Dec 16

SLR

Environmental consultancy Buckinghamshire 113 5 1,138 Oct 16

The Binding Site

Diagnostic tests manufacturer Birmingham 92 26 699 Sep 16

^ Profit = operating profit * Supplied by the company † Annualised figure