Top Track 250 Re Puk

Research Report 2014

Britain's leading private mid-market growth companies

Sponsored by

10years2005-2014

2014 Top Track 250 www.fasttrack.co.uk

Top Track 250 Research Report 2014 i

CONTENTS

INTRODUCTION 1The Top 10 companies on the league table 1

EXECUTIVE SUMMARY 2 KEY STATISTICS 3Sales breakdown 3 Biggest sales movement 3Staff and job creation 4Profitability 5Highest profits 5 Profit margin 5Ownership 6 Debt 7Sector breakdown 8Industry breakdown 8 Regional breakdown 9International activity 10 Mergers and acquisitions 11 Private equity 12A decade of Top Track 250 13 Companies exiting from last year's league table 14

KEY THEMES & SELECTED COMPANY PROFILES 15 Dynamic companies 15 Workforce 16 Family businesses 17 Automotive industry 18 Planned flotations 19 Brands 20

2014 TOP TRACK 250 LEAGUE TABLE 21

THE RULES OF ENGAGEMENT 31

SPONSORS AND MEDIA PARTNER 32

ABOUT FAST TRACK 34 Compiler and publisher 34 The authors 34 Fast Track 35

CONTACT DETAILS 35


Top Track 250 Research Report 2014 1

INTRODUCTION

This is the tenth year of The Sunday Times Grant Thornton Top Track 250 annual league table, which ranks Britains leading private mid-market growth companies by sales. The league table has title sponsorship from Grant Thornton, and main sponsorship from Barclays.

The league table is the sister publication of Top Track 100, which identifies Britains 100 private companies with the biggest sales. Top Track 250 ranks the 250 next biggest private companies, which qualify for the league table provided either sales or operating profits have increased by at least 10% in their latest available accounts.

This years league table identifies many dynamic mid-market private businesses that have grown by managing risk, choosing the right strategic options, attracting talent and becoming operationally more efficient. Some are household names such as Aston Martin (No 21), Jeyes (No 202) and Barbour (No 221). Many more are operating successfully in sectors that range from building and construction to retail and manufacturing.

All have faced challenges, from weakness in their core markets to growing shortages in skilled staff. Their resilience and resourcefulness give cause for confidence in the continued growth of the UK economy.

Top 10 companies on the league table

* Pro-forma, draft, or not yet filed at Companies House annualised sales

CEO Andy Crossley and CFO Alex Labak joined warranty provider Domestic & General (No 1) this year.

Rank

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1 10Domestic & General Warranty provider

Wimbledon Mar 14 632.9 10% 73.6 3% 2,785CVC Capital Partners (>50%), management (50%), management (



EXECUTIVE SUMMARY

Overview

This years Top Track 250 companies generated combined sales of 69.5bn, up from a combined 59.9bn in their prior year

Companies employed a total of 412,000 staff in their latest financial year, an increase of 36,400 on their prior year. Almost four fifths (199) of companies increased their head count

Companies had combined operating profits of 4.4bn, up from 3.6bn and almost two thirds (161) of companies increased their operating margin

81 companies are family-owned, 74 are owned by founder or entrepreneur and 71 are majority-owned by one or more private equity firms

The highest number of companies on the league table are based in London (54), followed by the Southeast (40)

Key themes

Dynamic companies: A quarter (63) of companies increased their profit by at least 10% in the latest year despite sales growth of less than 10% or falling sales. Some exited non-core and unprofitable businesses or identified operational efficiencies, whereas others diversified their business model or grew overseas. [Page 15]

Workforce: Four fifths (199) of the league table increased their headcount via organic growth or acquisitions, and many were recognised for their progressive staff policies. [Page 16]

Family businesses: 32% of companies on this years league table are family owned, many with at least two generations involved in the running of the business. [Page 17]

Automotive industry: Car sales have been rising for nearly three years, and this year 50 automotive businesses make the list. Companies range from car dealers to distributors and manufacturers. [Page 18]

Planned flotations: Seven companies have declared their intention to raise finance through an initial public offering (IPO). They will be following eight companies from last year's table that listed shares on a stock exchange this year. [Page 19]

Brands: The league table contains a wide selection of retail and consumer brands such as Poundworld, The Hut Group and Chain Reaction Cycles. Many have diversified away from the high street, whilst others are tapping into overseas markets with high consumer demand. [Page 20]

Levels of sales

Number of companies in each range

21

>600m

500m-600m

400m500m

300m400m

200m300m

100m

80m100m

60m80m

40m60m

20m40m

10m20m

010m

33

21

3

4

6

Latest OP not available: 2

51

130

Characteristics of a typical Top Track 250 company

SalesAverage sales in latest year 278m

Average sales in prior year 240m

Operating profitAverage profit in latest year 18m

Average profit in prior year 14m

StaffTypical headcount in latest year 500-2,000

Typical headcount in prior year 450-1,750

Company characteristicsRegion London (22%)

Sector Services (40%)

Industry Automotive (20%)

Ownership Family (32%)



KEY STATISTICS

Sales breakdown

Buoyed by an improving British economy, and league table criteria that places an emphasis on sales or profit growth, 187 companies reported sales that increased by at least 10% in their latest financial year. This years companies generated combined sales of 69.5bn compared with 59.9bn in their prior year, an increase of 16%. Warranty provider Domestic & General (No 1) had the highest sales on the league table at 632.9m. Supply chain manager IESA (No 250) had the lowest sales at 143m.

Biggest sales movement

Many companies reporting growth this year operate in the building and construction markets. The biggest sales increase was reported by housebuilder and contractor Mount Anvil (No 204), which is led by founder and chief executive Killian Hurley. The group finished work on 276 homes in inner London boroughs last year, and in March, struck a 200m funding agreement with global fund manager Ares Management, which will help it to deliver a further 2,500 by 2018.

Acquisitions have also helped to increase top line performance. The Edinburgh Woollen Mill (No 10) more than doubled its sales of woollen jumpers to 567m in its last financial year, helped by its acquisition of fellow retailers Jane Norman and Peacocks from the administrators in 2011 and 2012 respectively. The company, which opened its first shop in Scotland in 1970, is run and owned by chief executive Philip Day. In June, Jane Norman's loss-making UK & Ireland business was placed back into administration.

Smaller independent energy companies have been increasing their share of the market despite continued domination from the big six suppliers. Two of the fastest growing companies on the league table include energy suppliers First Utility (No 91), which increased sales 94% to 283.5m in 2013, and Ovo Energy (No 191), which increased sales by 67% to 171.7m in 2013. Sales in both cases are commission and fees from energy contracts sold.

Automotive retailers dominate the league table, with 43 out of 44 increasing sales in their latest year. However, the biggest faller this year, in terms of sales, was car dealer Allen Ford (No 98) which restructured its operations, closing three sites. It reported that sales fell 27% to 270.9m in 2013. Despite this, profits rose 42% to 4.6m.

RankCompany Activity

Latest FYE

Sales, m

Sales increase

204Mount Anvil Property developer & contractor

Dec 13 161.4 196%

111Harkand Group Offshore services provider

Sep 13 242.8 136%

10The Edinburgh Woollen Mill Clothing retailer

Mar 13 556.0 126%

91First Utility Energy supplier

Dec 13 283.5 94%

242Oak Furniture Land Wood furniture retailer

Sep 13 145.5 77%

191Ovo Energy Energy supplier

Dec 13 171.7 67%

106Spire Automotive Car dealer

Dec 13 251.5 51%

200Hyperion Insurance Group Insurance broker & underwriter

Sep 13 163.6 50%

20Kelway IT services provider

Mar 14 527.0 48%

65Global Energy Group Energy services provider

Mar 13 357.9 43%

10 biggest sales increases

Rank Company Activity

Latest FYE

Sales, m

Sales decrease

98Allen Ford Car dealer

Dec 13 270.9 -27%

135Stewart Milne Housebuilder

Jun 13 211.1 -21%

194Fayrefield Foods Dairy product marketer

Dec 12 170.7 -21%

202Jeyes Cleaning products maker

Dec 12 163.1 -14%

84Direct Wines Wine merchant

Jun 14 307.7 -10%

138Alliance Medical Diagnostic imaging services

Mar 14 210.2 -4%

228ghd Hair products supplier

Dec 12 150.4 -3%

241Park Garage Group Fuel forecourt operator

Jun 14 145.6 -3%

80Nicholl Fuel Oils Fuel distributor

May 13 315.5 -2%

206Johnston OilsOil distributor

Dec 13 160.3 -2%

10 biggest sales decreases*

* All of these companies increased operating profit by more than ten percent to qualify for the league table



Staff and job creation

Companies employed a total of 412,000 staff in their latest financial year, an increase of 36,400, or 10%, compared to their prior year.

Highlighting the positive economic outlook, 199 companies increased headcount. The biggest percentage increase was at The Edinburgh Woollen Mill (No 10), which increased its workforce 117% to 10,687 following the acquisition of retailers Peacocks and Jane Norman. The addition of 5,732 employees was also the largest absolute change on the league table. However, in June, the company returned Jane Norman to the administrators, putting 157 jobs at risk.

The second biggest absolute change was at cinema operator Vue Entertainment (No 22), which boosted its workforce by 3,132 to 7,072. This was due to three acquisitions in two years, helping the group expand into Poland and Germany.

There are 110 companies with more than 1,000 employees on this year's league table. Examples include airport owner and operator Gatwick Airport (No 6), which has 2,454 employees; budget hotel operator Travelodge (No 40), which has 3,231 employees; and schools operator Cognita (No 117), which has 4,098.

Number of employees

Number of companies in each range

8

5>10,000

5,001-10,000

2,001-5,000

1,001-2,000

501-1,000

1-500

53

44

74

66



Profitability

Top Track 250 companies are required to be in profit in their most recent financial period. Profit is defined as operating profit before exceptional items, joint ventures and impairment of assets (OP). The companies generated combined profits of 4.4bn, an increase of 25% on the previous year.

Highest profits

Electricity distributor Electricity North West (No 24) reported the biggest operating profit for the fourth year running: 280.4m on sales of 508m in 2014.

Large infrastructure businesses have some of the biggest profits on the table, with airport operator and owner Gatwick Airport (No 6) reporting profits of 147m in 2014 on sales of 593.7m; and port facilities provider Peel Ports Group (No 26) reporting profits of 101.5m in 2013 on sales of 501.9m. These companies also, typically, have significant debt that requires servicing (see page 7).

The insurance sector is also in rude health with breakdown insurer RAC (No 31) reporting profits of 100m on sales of 486m in 2013; car insurance provider Hastings Insurance (No 71) had profits of 87m in 2013 on sales of 342.5m; and warranty provider Domestic & General (No 1), which generated profits of 73.6m in 2014 on sales of 632.9m.

Profit margin

Almost two thirds (161) of companies increased their operating margin in the latest year. Examples include film manufacturer Innovia Group (No 46), which grew its margin from 4.7% to 10.2%; diagnostic imaging services provider Alliance Medical (No 138), where margins widened from 2.8% to 11.5%; and minicab and courier services provider Addison Lee (No 192), which increased its margin from 6.2% to 12.5%.

Of the 187 companies that increased sales by more than 10%, almost half reported that margins had fallen (89). For example, wood furniture retailer Oak Furniture Land (No 242), which saw its margin fall from 9% to 4.9% in 2013, has expanded to 57 showrooms following strong demand for its hardwood products, and is planning to open a further eight in the next year.

Energy supplier First Utility (No 91) recorded the lowest operating margin at 0.2%. The company increased sales 94% to 283.5m in 2013 with operating profits of only 611,000, which were also the lowest on the league table. Its small operating margin may have helped the firm grow its customer base by 135,000 to 314,000 in the year and says it has shifted its focus away from small businesses to concentrate on domestic customers.


Latest FYE

Sales m

Profit m

24Electricity North West Electricity supplier

Mar 14 508.0 280.4

6Gatwick Airport Airport owner & operator

Mar 14 593.7 147.0

26Peel Ports Group Port facilities provider

Mar 13 501.9 101.5

31RAC Breakdown & motoring services

Dec 13 486.0 100.0

25BGL Group Insurance intermediary

Jun 14 507.2 99.5

28Acteon Subsea services provider

Dec 13 497.6 89.5

71Hastings Insurance Group Car insurance provider

Dec 13 342.5 87.0

159Wood Mackenzie Energy research consultancy

Dec 12 190.8 79.5

86Napp Pharmaceutical Holdings Pharmaceuticals maker

Dec 13 299.9 74.4

1Domestic & General Warranty provider

Mar 14 632.9 73.6

10 biggest operating profits

10 biggest operating profit margins


Latest FYE

Sales m

Profit margin


Mar 14 508.0 55%


Dec 12 190.8 42%

164The Emerson Group Builder, property developer

Apr 14 187.9 36%

173Gamesys Online gaming developer

Mar 13 181.5 32%

136Forth Ports Port facilities provider

Dec 12 211.0 30%

71Hastings Insurance Group Car insurance provider

Dec 13 342.5 25%

86Napp Pharmaceutical Holdings Pharmaceuticals maker

Dec 13 299.9 25%


Mar 14 593.7 25%

162Huntswood Customer service provider

Sep 13 190.4 22%


Sep 13 242.8 22%


Latest FYE

Sales, m

Profit margin

91First Utility Energy supplier

Dec 13 283.5 0.2%

19Brookfield Rose Temporary workforce provider

Dec 13 528.1 0.4%

131Longcross Construction consultancy

Mar 13 216.0 0.6%

216Chain Reaction Cycles Online bike retailer

Dec 12 155.6 0.7%

80Nicholl Fuel Oils Fuel distributor

May 13 315.5 0.8%

5 lowest profit margins



Ownership

Family-owned

81 companies on the Top Track 250 are family-owned. Examples include car dealer Benfield Motor Group (No 3), which is owned by the Squires family and run by third-generation family member Mark Squires. Baker Warburtons (No 9), is owned by the Warburtons family, and run by fifth generation family members including chairman Jonathan Warburton. Safety equipment supplier Arco (No 108), is owned by the Martin family, and run by fourth-generation family member Thomas Martin. Yoghurt and dairy maker Yeo Valley (No 103), which is majority owned and led by chairman Tim Mead, the son of founders Roger and Mary Mead.

Founder or entrepreneur-owned

74 companies are majority-owned by entrepreneurs or founders. Examples include bookmaker Betfred (No 49), which is owned by founders Fred and Peter Done and their family. Wine merchant Direct Wines (No 84), which is owned by Tony and Barbara Laithwaite and their family. Cosmetics manufacturer and retailer Lush (No 61), which is majority-owned by Mark and Margaret Constantine.

Private equity-owned

71 companies on the Top Track 250 are majority-owned by private-equity firms. Examples include shoe manufacturer Dr Martens (No 139), which was bought by Permira last October in a 300m deal. Ice cream manufacturer R&R Ice Cream (No 5), which was bought by PAI Partners from Oaktree Capital in April last year, valuing the business at 715m. Cinema operator Vue Entertainment (No 22), was bought for 935m last year by the private equity arms of AIMCo and OMERS, two of Canadas largest pension funds.

Management-owned

20 companies are majority-owned by management. Examples include risk consultancy Control Risks (No 130), which is led by chief executive Richard Fenning and backed by NVM Private Equity, which in 2011 invested 12m to take a 20% stake in the business. Insurance broker and underwriter Hyperion Insurance Group (No 200), is led by chief executive David Howden and backed by General Atlantic, which bought a 29% stake last year, valuing the group at 250m. Travel services provider, JacTravel (No 230), which is led by chief executive Terry Williamson and backed by Vitruvian, which bought a minority stake in June, valuing the group at 80m.

Employee-owned

Four companies are majority-owned by their employees. Examples include management and IT consultancy PA Consulting Group (No 41), which is led by chief executive Alan Middleton; and construction consultancy Turner & Townsend (No 66), which is led by chief executive Vincent Clancy.

Majority ownership types

Number of companies by ownership type

Employees 4

Management 20

Entrepreneur and/or founder 74

PE and/or VC 71

Family 81



Debt

Mid-market companies continue to have extensive borrowings from banks and private equity shareholders. The combined long and short-term debt of the 250 companies is 25.8bn, compared to 24.3bn owed the year before.

Four companies owe more than 1bn (2013: 5 companies), and 39 companies owe more than ten times their operating profit (2013: 48 companies). The company with the most debt is Gatwick Airport (No 6) with loans of about 1.6bn, 11 times its operating profits of 147m in 2014.

The company with the biggest debt-to-profit ratio is healthcare technology supplier Tunstall (No 127), which reported that it had 983m of debt in 2013, 96 times operating profits of 10.2m. The group has been expanding internationally with acquisitions in America and Europe, which drove a 21% rise in sales last year to 221m. The group refinanced 350m of debt in September 2013, and is backed by private equity firms Charterhouse and Bridgepoint Capital.


Latest FYE

Debt m

Sales m


Mar 14 1,644 593.7

26Peel Ports Group Port facilities provider

Mar 13 1,265 501.9


Mar 14 1,153 508.0


Dec 12 1,133 190.8

127Tunstall Healthcare technology supplier

Sep 13 983 221.0

48Integrated Dental Holdings Dental care provider

Mar 14 859 407.5

129Global Radio Radio broadcaster

Mar 13 846 219.5

7ERM Environmental consultancy

Mar 13 749 581.5

117Cognita Schools operator

Aug 13 660 232.6

1Domestic & General Warranty provider

Mar 14 617 632.9

10 companies with the most debt


Latest FYE

Debt/ profit

Debtm

Profit m

127Tunstall Healthcare technology supplier

Sep 13 96 983.0 10.2

40Travelodge Budget hotel operator

Dec 13 92 514.3 5.6

117Cognita Schools operator

Aug 13 72 659.7 9.1

141LGC Analytical services laboratory

Mar 14 55 437.0 7.9

199Wagamama Noodle bar operator

Apr 14 53 289.4 5.4

182NSL Traffic services provider

Dec 13 51 137.7 2.7

48Integrated Dental Holdings Dental care provider

Mar 14 42 858.7 20.7

222Pork Farms Food producer

Mar 13 42 130.0 3.1

209Oasis Dental Care Dental care provider

Mar 14 26 237.8 9.2

23Pret A Manger Sandwich shop operator

Jan 14 24 560.3 23.7

10 companies with the biggest debt/profit ratios



Sector breakdown

The two largest sectors are services, with 131 companies, and retail with 85. Together these sectors comprise 86% of the league table.

Service businesses encompass a wide range of industries, from subsea services provider Acteon (No 28) to contract printer Polestar (No 114) and energy research consultancy Wood Mackenzie (No 159).

Retailers include sofa and carpet retailer SCS (No 109), shoe retailer Office (No 110) and outdoor equipment retailer GO Outdoors (No 193).

There are 49 wholesalers in the league table, including book and DVD wholesaler Gardners Books (No 118), safety equipment supplier Arco (No 108) and building product distributor Arran Isle (No 142).

There are 35 manufacturers such as well-known baker Warburtons (No 9) and pharmaceuticals maker Napp Pharmaceutical Holdings (No 86).

The 24 construction companies include construction consultancy Turner & Townsend (No 66), housebuilder Countryside (No 95), and retirement home builder McCarthy & Stone (No 82).

Industry breakdown

The top industries represented on the league table are automotive and food & drink.

The automotive industry provides 50 companies, including 44 dealerships such as Newbury-based car dealer Ridgeway Group (No 12), which was founded 17 years ago with just one Audi and two Volkswagen outlets; car manufacturer Aston Martin (No 21); and bus manufacturer Alexander Dennis (No 13).

There are 40 food & drink companies including Northern Ireland crisp and snack manufacturer Tayto (No 190), which has acquired brands including Golden Wonder, Jonathan Crisp and Real Crisps.

The building-related industry is the third biggest with 26 companies on the league table, including housebuilder and contractor Mount Anvil (No 204), tool and equipment hirer HSS Hire Group (No 123), and builders' merchant MKM Building Supplies (No 201).

Sector breakdown

Number of companies in each sector

Construction 24

Wholesale 49

Manufacturing 35

Retail 85

Services 131

Note: where companies are deemed to operate in more than one sector, a second sector is chosen. In total, 75 companies operate in two sectors. Each sector is given an equal weight-ing in the above analysis.

Industry breakdown

Automotive 50

Food and drink 40

Building related 26

Consumer goods 25

Business services 26

Other 12

Transport 10

Leisure 10

Healthcare 9

Engineering 11

Computers & electronics 8

Recruitment 7Oil & gas 7Media 5Finance 3Telecoms 1



Regional breakdown

The North (Northwest and Northeast & Yorkshire) is home to the highest number of Top Track 250 companies, with 57 businesses. The Southeast is home to 40 companies. When compared to last years table, there has been a marginal increase in companies based outside London and the Southeast. Last year, the combined region was home to 40% of the league table, but this year, the figure is 38%.

Yorkshire and the Northeast increased from 28 to 33 companies. These include discount retailer Poundworld (No 69), outdoor equipment retailer GO Outdoors (No 193) and clothing manufacturer & distributor Barbour (No 221).

The Midlands decreased from 32 to 30 companies. These include sports car maker Aston Martin (No 21), shoe manufacturer and retailer Dr Martens (No 139) and food producer Pork Farms (No 222).

The East has increased from 9 to 14 companies. These include salad and vegetable grower Gs (No 57), marine science services provider Gardline Shipping (No 120) and construction contractor Clugston Group (No 229).

The Northwest (27) and Wales (5) both had one more company than last year; while the Southwest (13) and Northern Ireland (8) both had two fewer companies. Scotland (26) matched last year's total.

Of the top ten largest companies ranked by sales, 50% have their headquarters outside London and the southeast of England. However, of the top ten companies ranked by profits, 70% have their headquarters outside London and the southeast of England.

Regional breakdown of HQ in UK

Northern Ireland

Southwest

Wales

Scotland26

London54

Midlands30

Southeast40

27Northwest

33

8

13

145

Northeast& Yorkshire

East



International activity

Top-performing private companies are looking beyond the UK for growth. This is demonstrated by the 16% increase in international sales, reported in their latest year*. The company with the biggest increase was Vue Entertainment (No 22), which reported a three-fold increase in international sales to 217.5m in 2013. The cinema group has made acquisitions in Poland and Germany in the last two years, and has 151 sites in nine countries.

The company reporting the largest overseas sales is engineering recruitment consultancy NES Global Talent (No 2) with 506.1m, 81% of total sales in 2013. The group opened five new offices in countries including China and Iraq since completing a 152m refinancing last October, expanding its global network to more than 40 sites. The Cheshire company is owned by private equity firm AEA Investors, which backed a 234m buyout in 2012.

The company with the most overseas subsidiaries was environmental consultancy ERM (No 7) with 73 based on foreign soil (22 companies in North America, 20 in Western Europe, 16 in East and Southeast Asia, 9 in South America, 3 in Australasia, 2 in Eastern Europe and one in Africa).

Foreign subsidiaries are most commonly located in Western Europe, with 72 companies having at least one subsidiary in countries that include Germany (25), France (20), Republic of Ireland (19), Spain (16) and the Netherlands (15).

44 companies have at least one subsidiary in an emerging market, including risk management consultancy Control Risks (No 130), with subsidiaries in Mexico, Brazil, India, Pakistan, China and South Africa; and radiator and boiler manufacturer Ideal Stelrad Group (No 64), with subsidiaries in Poland, Turkey, China, Russia and Romania.

* where available from publicly filed accounts. Some international sales were provided by the companies.

Location of foreign subsidiaries

Number of companies with at least one known subsidiary in the region

Western Europe

North America

East Asia

C & S America

Australasia

South East Asia

Africa

Middle East

Eastern Europe

72

51

32

29

29

28

20

16

4



Mergers and acquisitions

Against the backdrop of a stabilising Eurozone and an improved UK economic outlook, companies on the league table have been continuing to make positive movements in the M&A market. Many of these transactions are bolt-on acquisitions of small businesses that provide quick growth in new markets. Other transactions include the divestment of businesses to streamline operations. The table below shows a selection of the most recent mergers and acquisitions.

Direct Wines (No 84), which is majority-owned by Tony Laithwaite (middle), sold Virgin Wine Online for 15.9m last year.

Date of transaction


Sales, m

Operating profit, m

Notes

Jun 14 113Wellness Foods Health food manufacturer

239.1 10.3Sold Rowse Honey to Valeo Foods, and Dorset Cereals to Associated British Foods. Deal terms were undisclosed.

May 14 5R&R Ice Cream Ice cream manufacturer

*605.5 *46.9 Acquired Peters, a leading Australian ice-cream manufacturer, and refinanced 315m of its debt.

May 14 227Immediate Media Co Magazine publisher

150.7 12.8Paid 24m for a portfolio of cycling and craft titles from rival publishers Future.

May 14 123HSS Hire Group Tool and equipment hirer

225.8 19.8Has made a series of small acquisitions, including Apex Generators which was bought for an undisclosed fee.

Apr 14 160Lakehouse Asset and energy support services

190.6 7.3Bought four businesses since 2011, including Scottish energy services group Everwarm for an undisclosed sum.

Mar 14 200Hyperion Insurance Group Insurance broker & underwriter

163.6 29.9Sales rose 50% to 163.6m, following bolt-on acquisitions, enabling expansion in southeast Asia and Brazil.

Nov 13 84Direct Wines Wine merchant

*307.7 *11.8 Sold online wine retailer Virgin Wine Online for 15.9m.

Oct 13 22Vue Entertainment Cinema operator

518.2 16.9Made three acquisitions in two years, including Polish multiplex operator Multikino. Deal terms were undisclosed.

Sep 13 96The Garden Centre Group Garden centre operator

*276.2 *28.0Made a series of acquisitions including Garden & Leisure from Belgian retail group Louis Delhaize. Deal terms were undisclosed.

Aug 13 100The Turner Group Engineering services provider

262.5 15.0Bought Northburn Industrial Services, a provider of waste management and recycling services for an undisclosed sum.

Jun 13 213LWC Drinks distributor

156.7 4.8A partial acquisition of the UK wholesale operations of US brewer Molson Coors contributed to 24% sales growth.

Jun 13 186Photobox Group Personalised product retailer

175.3 15.7Bought Sticky9, which transforms Instagram pictures into personalised products. Deal terms were undisclosed; and previously bought Moonpig.com

* Proforma, draft, or not yet filed at Companies House



Private equity

Private equity ownership exerts a strong influence on the league table, with around 35% of companies owned or backed in this way. The table below shows a selection of private equity transactions completed during the year.

Dr Martens (No 139) was acquired by Permira for 300m in October last year.

Transaction date


Sales m

Operating profit m

Deal detail

Jul 14 81Independent Clinical Services Healthcare staff provider

314.0 26.0 Bought by TowerBrook Capital Partners for an undisclosed sum

Jul 14 170The Hut Group Online retailer

184.3 9.1 US investor KKR bought a 20% stake in a deal that valued the group at 500m.

Jun 14 230JacTravel Travel services provider

150.2 7.4Vitruvian Partners bought the firm from Bowmark Capital in a deal worth 80m.

Apr 14 46Innovia Group Film manufacturer

*410.7 *42.1Bought by Arle Capital, from a separate fund managed by the private equity firm, in a 410m deal

Apr 14 195NFT Distribution Food distributor

169.7 6.3 EmergeVest bought a majority stake from Phoenix Private Equity

Mar 14 70Zenith Leasedrive Vehicle lessor

*345.2 *33.1Formed when HgCapital merged two portfolio companies, Zenith Vehicle Contracts and Leasedrive

Jan 14 71Hastings Insurance Group Car insurance provider

342.5 87.0Goldman Sachs acquired a 50% stake, valuing the company at about 700m

Nov 13 4Alexander Mann Solutions Recruitment consultancy

617.4 19.0US private equity house New Mountain Capital and management bought the group for 260m

Nov 13 42Swift Worldwide Resources Recruitment consultancy

423.2 16.8US firm Wellspring Capital Management and management bought the firm for an undisclosed sum

Nov 13 72Burton's Biscuit Company Biscuit & snack maker

*336.0 *26.8Bought by Canadian private equity firm Ontario Teachers Pension Plan for an undisclosed sum

Oct 13 139Dr Martens Shoe manufacturer & retailer

*209.1 *29.6 Permira completed a 300m buyout of the iconic brand.

Sep 13 244Whitworths Food producer & distributor

144.8 7.6European Capital, which paid 86m for an 86% stake in 2006, sold the business to Equistone Partners Europe, valuing the business at 90m

Aug 13 1Domestic & General Warranty provider

632.9 73.6 Bought by CVC Capital Partners for a reported 750m, including debt

Aug 13 22Vue Entertainment Cinema operator

518.2 16.9Canadian pension funds AIMCo and Omers, and management, acquired the group for 935m

Aug 13 64Ideal Stelrad Group Radiator & boiler manufacturer

359.8 33.4 Bought by Bregal for 230m from a consortium of investors

Feb 13 111Harkand Group Offshore services provider

242.8 53.9Oaktree Capital Management funded the merger of Iremis, Integrated Subsea Services and Andrews Survey

Apr 13 192Addison Lee Minicab & courier services provider

171.7 21.5Bought by Carlyle Group for 300m, the Griffin family retain a minority stake

annualised figure * Pro-forma, draft, or not yet filed at Companies House


Top Track 250 Research Report 2014 13Top Track 250 Research Report 2013 13

A decade of Top Track 250

Top Track 250 was launched ten years ago to recognise the success of Britains top-performing mid-market private companies. Since its launch, more than 700 British companies have appeared on the league table.

Companies that featured on the first league table in 2005 include soft furnishings retailer Dunelm Mill, which floated on the London Stock Exchange in October 2006 and is now valued at 1.6bn; discount retailer Poundland which floated in March and is now valued at 790m; and Dyson, which was first showcased with sales of 277.3m, but last year reported sales of 1.3bn.

Other well-known past stars that have floated on the stock market include online grocery retailer Ocado, discount retailer B&M Retail, household appliance supplier AO.com and financial information services provider Markit. Some, such as breakfast cereal maker Weetabix, car parts retailer Euro Car Parts and aerospace engineer Firth Rixson, have been acquired, while others such as Dyson, online bookmaker bet365 and upholstered furniture retailer DFS remain in private hands, but have graduated on to Top Track 100.

The vital statistics of league table companies have changed significantly over the last ten years:

Company Activity

Latest sales,

m

No. of times

ranked

Argent Group Europe Food distributor

*529.8 10

City Refrigeration Holdings Facilities maintenance provider

*458.5 10

Helston Garages Car dealer

395.2 10

Motorpoint Car supermarket

*463.3 10

NES Global Talent Engineering recruitment consultancy

627.0 10

Sinclair Group Car dealer

290.1 10

Warburtons Baker

562.1 10

Arco Safety equipment supplier

249.2 9

Burton's Biscuit Company Biscuit & snack maker

*336.0 9

Drive Motor Retail Car dealer

233.2 9

ERM Environmental consultancy

581.5 9

Pertemps Network Group Recruitment consultancy

468.4 9

Pret A Manger Sandwich shop operator

509.9 9

Rix Shipping, oil distributor

490.1 9

Travelodge Budget hotel operator

432.6 9

Vue Entertainment Cinema operator

518.2 9

Companies with the most appearances

* Pro-forma, draft or not yet filed at Companies House

2005

Total sales

49.9bn 69.5bn

401,000 412,000

336.8m 632.9m

Total employees

Top company

Sales

2014

Total profits

2.3bn 4.4bn



Companies exiting from last years league table

Of the companies on last years Top Track 250, 111 do not appear this year.

The main reason for company exits was failing to increase either sales or operating profit by more than 10%. 62 companies fall off the league table on this basis. Four did not qualify due to an operating loss in the most recent financial period.

A further seven grew sales sufficiently to appear on our Top Track 100 league table of Britain's biggest private companies, including civil engineering contractor Murphy Group, which grew sales 60% to 910m in 2013; and frozen food retailer Farmfoods, which increased sales 21% to 689.1m in 2013.

Five companies were acquired this year, compared to two on last years table. Transactions include facilities maintenance provider Norland Managed Services, acquired by listed US commercial property firm CBRE in November for a reported 250m; facilities maintenance provider Europa Support Services, acquired by listed German construction business Bilfinger in December for an undisclosed sum; and aerospace parts manufacturer All Metal Services, acquired by US firm Reliance Steel & Aluminum Co in August for an undisclosed sum.

Eight of last year's companies listed on a stock exchange. Businesses include pet product retailer Pets At Home, financial information service provider Markit, greeting card retailer Card Factory, household appliance supplier AO.com, building product supplier Epwin Group, testing service provider Exova, renewable energy generator Infinis, and parcel and freight courier DX Group. Virgin Money confirmed it planned to float before publication and was removed from the table.

Reason for exitNumber of companies

Neither sales or profit growth > 10% 62

Sales less than 250th company 23

Listed* 9

Sales increase to Top Track 100 level 7

Acquired 5

Made a loss 4

Moved headquarters overseas 1

Total 111

Reason for exit

Pets at Home listed on the London Stock Exchange in March and has a market capitalisation of 897m.

* Includes Virgin Money which announced its IPO before publication.



ghd (No 228) cut its distribution and selling costs and increased profits by 25.9% to 27.2m in 2012.

KEY THEMES & SELECTED COMPANY PROFILES

On the following pages we profile examples of companies that demonstrate some of the key themes from this years league table.

Dynamic companies

All the league table companies had to increase sales or profits by 10% our characteristics of a dynamic company. However, sustaining growth is not always a linear path of increasing sales and profits. The league table features 63 companies that increased profit by a rate of more than 10% in the latest year despite having sales that grew by less than 10% or shrank. Some exited non-core and non-profitable businesses. Others identified operational efficiencies, diversified their business model or grew overseas.

78 TelentCommunications support provider

Sales increased by 0.9%, but profits increased 38.1% after it improved efficiency and minimised costs

FYE Mar 14

Latest sales 321.0m

Prior sales 318.2m

Profit 17.4m

Staff 1,465

Location Warwick

Telent provides communications support for telecoms, railways and highways operators, as well as 22 emergency services organisations and 23 local councils. The Warwick firms highest-profile contract is supporting BT on its nationwide broadband upgrade. In the last year it won contracts with Network Rail and Transport for London. Mark Plato, 55, is chief executive.

168 Rocco Forte HotelsLuxury hotel owner and manager

Sales increased by 1.9%, but profits increased 98.1% following the termination of an onerous lease at a hotel in Prague

FYE Apr 13

Latest sales 185.4m

Prior sales 181.9m

Profit 22.0m

Staff 2,280

Location Central London

The Forte family has been in the hotel business for four generations. Sir Rocco Forte, 69, established Rocco Forte Hotels in 1996 and it currently has 10 luxury properties in Britain, mainland Europe and Russia; and will open in Jeddah by the end of this year. The London-based business is also planning openings in Marrakesh, Cairo and Luxor.

228 ghd Hair products supplier

Sales fell 3.2%, but profits increased by 25.9% after it cut its distribution and selling costs by 11.6%

FYE Dec 12

Latest sales 150.4m

Prior sales 155.3m

Profit 27.2m

Staff 672


This hair products supplier has a brand synonymous with hair straighteners its ghds are sold worldwide. In 2011, it launched its first hairdryer, the ghd Air, followed by its new styler, the ghd Eclipse. In 2013, Lion Capital bought the firm from Montagu Private Equity for 300m and it has since launched the Aura professional-standard hairdryer and in 2014, the ghd Curve, its first range of curling tools. It is led by interim chief executive Sebastian Lazell.



Vue Entertainment (No 22) acquisition trail boosted staff numbers 79% to 7,072.

Workforce

The Top Track 250 represents some of the biggest private sector employers in the country, such as facilities maintenance provider City Refrigeration Holdings (No 37) with 12,294 staff; contract caterer WSH (No 17) with 11,840 staff; and restaurant operator Nando's (No 32) with 10,245 staff. 198 companies increased their headcount through organic growth or acquisitions. Many of the league table were recognised during the year by The Sunday Times 100 Best Companies to Work For, for their progressive staff policies, including Lush (No 61), Swansway Group (No 58), Pertemps Network Group (No 35) and Gamma (No 233).

10 The Edinburgh Woollen MillClothing retailer

More than doubled employees to 10,687 following the acquisition of retailers Peacocks and Jane Norman

FYE Mar 13

Latest sales 556.0m

Prior sales 245.7m

Profit 57.4m

Staff 10,687

Location Dumfriesshire

The Edinburgh Woollen Mill more than doubled its sales of woollen jumpers to 556m in its last financial year, helped by the acquisition of Peacocks from its administrators in 2012. It also bought Jane Norman in 2011, but returned the loss-making retailer to the administrators in June, putting 157 jobs at risk. The company, which opened its first shop in Scotland in 1970, is run and owned by chief executive Philip Day, 48.

22 Vue EntertainmentCinema operator

Three acquisitions in two years contributed to the 79% increase in employees to 7,072

FYE Nov 13

Latest sales 518.2m

Prior sales 374.8m

Profit 16.9m

Staff 7,072

Location West London

After three acquisitions in two years, Vue Entertainment has 151 cinemas in nine countries, and sales climbed 38% in 2013 as a result. The chain was formed in 2003 when it bought 36 cinemas from Warner Village. Private equity firm Doughty Hanson acquired the London-based group for 450m in 2010, selling it in August 2013 for a reported 935m to Canadian pension funds AIMCo and Omers. The entire Vue executive team, including chief executive Tim Richards, 55, reinvested in the transaction.

71 Hastings Insurance Group Car insurance provider

Grew its customer base to more than 1.4m and increased its workforce by 16% to 1,523

FYE Dec 13

Latest sales 342.5m

Prior sales 276.3m

Profit 87.0m

Staff 1,523

Location East Sussex

Hastings sells car and home insurance through brands including Hastings Direct, Insure, and Peoples Choice. Under chief executive Gary Hoffman, 53, the East Sussex firm grew sales by 24% to 342.5m in 2013 by increasing its customer base to more than 1.4m and improving retention rates. In January, Goldman Sachs acquired a 50% stake, valuing the company at about 700m.

Annualised sales



Tim Mead (L) is chairman of Yeo Valley (No 103), and is the son of founders Roger and Mary Mead (R) .

Family businesses

32% of companies on this years league table are family owned. When approaching retirement, the current family owners must consider succession and how best to safeguard the future of the business. Some will consider outside investment, but most will hope that a family member has the desire and business acumen required to take over the reins.

103 Yeo ValleyYoghurt and dairy maker

Led by chairman Tim Mead, 51, who is the son of founders Roger and Mary Mead

FYE Jun 13

Latest sales 256.1m

Prior sales 228.7m

Profit 5.3m

Staff 1,657

Location Bristol

Increased sales of organic food over the last two years have boosted this Bristol business, which makes and distributes a wide range of dairy products. Yeo Valley was born in the 1970s when Roger and Mary Mead began selling clotted cream from their Somerset farm. Son of the founder Tim Mead, 51, has stepped up to become chairman, and the business is now run by joint managing directors Karl Tucker, 46, and Adrian Carne, 48.

212 Suttons GroupLogistics & supply chain services

Led by the son of the founder Michael Sutton, 67, who is chairman, and his son John, 43, who is chief executive

FYE Apr 14

Latest sales 156.9m*

Prior sales 154.7m

Profit 10.4m*

Staff 775

Location Cheshire

Suttons is a supply chain services company specialising in the chemicals, gases, fuels and food sectors. Founded in the 1920s by Alf Sutton, the group is now led by his son Michael, 67, who is chairman, and his grandson John, 43, who is chief executive. Based in Widnes, it has operations in Britain, America, Europe, the Middle East and Asia, and recent developments include a joint venture in Saudi Arabia and the acquisition of a trucking company in China.

236 Craig Group Shipping and energy services group

Chairman Douglas Craig, 64, runs the company, which now employs the fourth generation of the Craig family

FYE Apr 13

Latest sales 146.8m

Prior sales 123.3m

Profit 17.4m

Staff 1,062

Location Aberdeen

Craig Group says it runs the largest British wholly-owned fleet engaged in the UK offshore industry, having invested more than 250m in 22 new vessels since 2003. The Aberdeen group provides emergency response, rescue, procurement and survey services to the global oil and gas industry. Chairman Douglas Craig, 64, runs the company, which now employs the fourth generation of the Craig family.

* Pro-forma, draft, or not yet filed at Companies House Annualised sales



Aston Martin (No 21) is one of 50 automotive companies to feature on this year's Top Track 250.

Automotive industry

In September car sales had risen for more than 30 months in a row, taking sales of new cars past 1.5m this year. Sales in August alone were up 9.4% on the prior year. Cheap finance deals and low interest rates appear to be fuelling this upsurge in demand. There is a correlation on this year's league table, with 50 automotive businesses that make the list. Companies range from car dealers to distributors and car manufacturers.

3 Benfield Motor GroupCar dealer

A new Ford dealership in Sunderland and investment in IT systems helped boost sales 15% and profit 45%

FYE Dec 13

Latest sales 622.4m

Prior sales 541.1m

Profit 6.9m

Staff 1,591

Location Newcastle upon Tyne

Employing 1,500 people, this Newcastle-based family business sells 11 car brands from its 34 dealerships across the North East, Yorkshire, Teesside, Cumbria and South West Scotland. Chief executive Mark Squires, 50, is the third generation of the family in charge since the firm was founded in 1957. In January, the group agreed a 40m funding package with Barclays and other lenders, which has been used to finance two dealerships in Sunderland and Newcastle, and a further dealership in Sunderland that will open in 2015.

21 Aston MartinSports car maker

Celebrated its centenary last year, and appointed Andy Palmer, as chief executive in September

FYE Dec 13

Latest sales 519.2m

Prior sales 461.2m

Profit 16.8m

Staff 1,239

Location Warwickshire

A 1,000 mile rally, and the lifting of a Vanquish car 1,000ft above the ground onto the helipad of Dubais Burj Al Arab hotel featured among Aston Martins centenary celebrations last year. The Warwickshire company is synonymous with luxury, style and James Bond, and was owned by Ford from 1994 until 2007, when it was bought by Middle Eastern investors for 490m. Former Nissan director, Andy Palmer, was appointed as chief executive in September. The luxury car manufacturer reported a 25m loss before tax in 2013.

180 Wrights GroupBus manufacturer

Pioneered low-floor buses in Britain and is building Londons new Routemaster buses

FYE Sep 13

Latest sales 178.9m

Prior sales 156.9m

Profit 4.6m

Staff 1,370

Location Ballymena, Co Antrim

The Wright Group built a fleet of electric buses that receive a wireless booster charge from plates in the road, allowing them to run for longer, and are now being trialled in Milton Keynes. Founded in 1946 and still owned by the Wright family, the County Antrim firm pioneered low-floor buses in Britain and is building Londons new Routemaster buses. Mark Nodder, 58, is group chairman and chief executive.



Household goods retailer Brighthouse (No 73) appointed WH Smith chairman Henry Staunton as non-executive chairman in July as it mulls over an IPO.

Planned flotations

A return to confidence in financial markets has prompted some companies to consider an initial public offering (IPO) to raise finance. Since the league table was first published in 2005, 36 companies have gone on to publicly quote their shares on a stock exchange, including household appliance supplier AO.com, online bookmaker Betfair and discount retailer Poundland. Virgin Money announced its intention to become a listed company in September, and the company was removed from the league table on this basis.

48 Integrated Dental Holdings Dental Care Provider

In June, Carlyle Group asked investment banks to pitch for a role advising it on a potential sale or IPO, with a 1bn valuation

FYE Mar 14

Latest sales 407.5m

Prior sales 349.0m

Profit 20.7m

Staff 5,622

Location Kearsley, Bolton

Britains biggest chain of dentists appointed a new chief executive, Terry Scicluna, 57, at the end of last year before announcing in June that it was considering a stock market listing. The Bolton-based firm has been growing through acquisitions, buying the Dental Directory in April for an undisclosed sum. In 2011 private equity firms Carlyle and Palamon Capital Partners bought IDH and merged it with Associated Dental Practices.

73 BrighthouseHousehold goods retailer

Vision Capital has appointed Rothschild to examine its options, including a possible flotation

FYE Mar 14

Latest sales 333.3m

Prior sales 297.0m

Profit 39.5m

Staff 2,673

Location Watford

This rent-to-buy retailer sells electrical items and furniture on credit from more than 280 stores nationwide, with customers making weekly payments. The Watford firm is expanding rapidly, opening 34 stores in the last two financial years. Led by Leo McKee, 68, it is majority-owned by Vision Capital, which backed a 170m secondary buyout from Terra Firma in 2007. The private equity firm is reported to be planning a flotation later this year.

233 Gamma Telecoms network operator

Appointed Investec in May to run an investor roadshow as it mulls over a 150m flotation

FYE Dec 13

Latest sales 148.7m

Prior sales 137.2m

Profit 11.2m

Staff 431

Location Newbury

Newbury-based Gamma is a provider of voice data, mobile, and cloud-based call control services to the UK business market. It operates primarily through a network of more than 650 channel partners including Fujitsu and Capita. The group, which is 46% owned by Hoxton Assets and led by chief executive Bob Falconer, 63, is reportedly considering a stock market listing in 2014.



Brands

The league table contains a wide selection of retail and consumer brands which have fared well in their latest year. Many have diversified away from the high street, whilst others are tapping into overseas markets with high consumer demand. Examples of brands that have targeted fast growing markets include Poundworld (No 69), online retailer The Hut Group (No 170) and Chain Reaction Cycles (No 216). Others have had to diversify or change their business model to prosper.

Barbour (No 221) was set up 120 years ago and has a range of 2,000 clothing and lifestyle products.

23 Pret A MangerSandwich shop operator

Has successfully diversified into overseas markets with X of its 367 shops outside the UK

FYE Jan 14

Latest sales 509.9m

Prior sales 435.4m

Profit 23.7m

Staff 7,771


Using only preservative-free, ethically-sourced ingredients to make fresh sandwiches, salads and soups each day has proved a successful format for this London-based high street chain. Started in 1986, it now has 367 shops worldwide. Under chief executive Clive Schlee, 55, demand for healthy, convenient food drove sales above 500m in 2013. Bridgepoint bought a majority share in the company in 2008 in a 345m deal.

139 Dr MartensShoe manufacturer & retailer

Overcame a steep decline in the early 2000s, and now sells its footwear in 65 countries

FYE Mar 14

Latest sales 209.1m*

Prior sales 160.4m

Profit 29.6m*

Staff 759

Location Northamptonshire

Celebrity fans including pop diva Miley Cyrus have helped signal a return to fashion for Dr Martens boots after six tough years in the early 2000s. The Northamptonshire companys footwear sells in 65 countries around the world, with America its largest market. In October last year, Permira completed a 300m buyout of the iconic brand, which continues its revival under chief executive David Suddens, 67, who steps up to chairman. Steve Murray takes over as chief executive this month.

221 Barbour Clothing manufacturer & distributor

Its hard-wearing wet weather clothing and jackets are now worn by everyone from royals to pop stars

FYE Dec 13

Latest sales 152.4m

Prior sales 137.0m

Profit 29.4m

Staff 818

Location South Shields

This iconic wax jacket manufacturer was set up 120 years ago to make hard-wearing wet weather clothing for country workers and fishermen. The Tyne and Wear companys jackets are now worn by everyone from royals to pop stars, and it has a range of 2,000 clothing and lifestyle products. The fourth-generation family firm is chaired by Dame Margaret Barbour, 74, and is active in 40 countries. Its managing director is Stephen Buck, 56.

Annualised sales




1 10Domestic & General Warranty provider

Wimbledon Mar 14 632.9 10% 73.6 3% 2,785CVC Capital Partners (>50%), management (50%), management (




26 51Peel Ports Group Port facilities provider

Liverpool Mar 13 501.9 32% 101.5 6% 1,963John Whittaker & family (50.1%), RREEF Infrastructure (49.9%)

27 45W&R Barnett Conglomerate

Belfast Jul 13 499.7 20% 17.6 6% 278Robert Barnett (43%), Glencairn Nominees Limited (37%), Highline Investments Limited (10%), William Barnett (10%)

28 35Acteon Subsea services provider

Norwich Dec 13 497.6 12% 89.5 12% 2,240KKR & White Deer Management (72%), management (28%)

29 38Perrys Car dealer

Northampton Dec 13 491.5 12% 7.8 56% 1,389Denise Millard (60%), Ken Savage (20%), Ray Sommerville (10%), family (10%)

30 20Rix Shipping, oil distributor

Hull Dec 13 490.1 -1% 4.4 132% 425 John Rix & family (100%)

31 34RAC Breakdown & motoring services

Walsall Dec 13 486.0 6% 100.0 43% 3,419Carlyle Group & senior management (100%)

32 44Nando's Restaurant operator

Southwest London

Feb 13 485.2 15% 58.2 39% 10,245Capricorn Ventures International (95%), others (5%)

33 62The John Clark Motor Group Car dealer

Aberdeen Dec 13 470.2 33% 8.9 55% 931 John Clark & family (100%)

34 50The Range Discount retailer

Plymouth Jan 14 *470.0 23% *46.0 31% 5,800 Chris Dawson & family (100%)

35 46Pertemps Network Group Recruitment consultancy

Warwickshire Dec 13 468.4 14% 8.0 -8% 1,313Management & employees (75%), LDC & others (25%)

36 58Motorpoint Car supermarket

Derby Mar 14 *463.3 28% *8.1 46% 449David Shelton (95%), Paul Winfield (5%)

37 49City Refrigeration Holdings Facilities maintenance provider

Glasgow Dec 13 *458.5 15% *9.0 27% 12,294Lord William, Lady Susan & Kenny Haughey (99%), other (1%)

38Euro Garages Fuel forecourt operator

Blackburn Jul 13 438.5 40% 12.4 71% 1,377 Issa family (100%)

39 56Opus Energy Energy supplier

Oxford Mar 14 433.8 17% 30.4 35% 482GDF Suez (29.99%), Telecom Plus plc (20%), management (50.01%)

40Travelodge Budget hotel operator

Thame, Oxfordshire

Dec 13 432.6 13% 5.6 -214% 6,380 Institutional investors (100%)

41PA Consulting Group Management, IT consultancy

Central London Dec 13 427.9 17% 42.3 9% 2,536Current & former employees (75%), trustees (25%)

42 61Swift Worldwide Resources Recruitment consultancy

Enfield Dec 13 423.2 19% 16.8 23% 378Wellspring Capital Management (85.6%), management & employees (14.4%)

43 73Graham Construction contractor

County Down Mar 14 418.5 30% 5.2 -5% 1,532Michael Graham (29%), Colin Graham (27%), Robin Graham (26%), Alan Bill (9%), Andrew Bill (9%)

44 52Kaspersky Lab Internet security software

London/Moscow Dec 13 417.6 11% 22.5 -44% 2,953Management, including Eugene Kaspersky (100%)

45Vasanta Group Business supplies distributor

Sheffield Dec 13 *414.9 7% *5.0 52% 1,117Endless LLP & management (70%), banking syndicate (17.5%), management (12.5%)

46Innovia Group Film manufacturer

Cumbria Dec 13 *410.7 24% *42.1 171% 1,601Arle Capital (84%), management (16%)

47 69Harwoods Car dealer

West Sussex Dec 13 410.2 20% 9.0 85% 776 Guy Harwood & family (100%)

48 64Integrated Dental Holdings Dental care provider

Kearsley, Bolton Mar 14 407.5 17% 20.7 30% 5,622Carlyle, Palamon Capital Partners, management (




51Car Giant Car dealer

West London Dec 13 *398.3 31% *30.5 62% 564 Geoffrey Warren (100%)

52 48Softcat IT reseller

Buckinghamshire Jul 13 395.8 29% 27.5 23% 575Peter Kelly (45%), Ravensbury Partners (12%), J.A.S. Nash Settlement Trust (12%), employees & management (31%)

53 57Helston Garages Car dealer

Cornwall Dec 13 395.2 8% 12.9 18% 813David & Betty Carr (90%), Andy Barrett (10%)

54 67Stoneacre Motor Group Car dealer

Doncaster Apr 14 395.1 15% 7.7 25% 1,380Christine Teatum (50%), Richard Teatum (50%)

55Eastern Western Motor Group Car dealer

Edinburgh Dec 13 393.6 14% 7.7 98% 948 Douglas Brown (100%)

56 85Air Energi Recruitment consultancy

Manchester Dec 13 385.4 33% 4.8 -50% 404LGV Capital (>50%) management (50%), management (




76Rullion Group Recruitment consultancy

Cheshire Dec 13 326.2 17% 3.6 16% 1,478 Rose Saoulli (100%)

77Almac Group Pharmaceuticals maker

Craigavon, Co Armagh

Sep 13 325.3 9% 21.6 25% 3,201 McClay Foundation (100%)

78 77Telent Communications support provider

Warwick Mar 14 321.0 1% 17.4 38% 1,465 Tusk Investments (100%)

79Vindis Group Car dealer

Huntingdon Dec 13 317.9 10% 5.0 68% 725Gary Vindis (50%), Nigel Vindis family trust (50%)

80 74Nicholl Fuel Oils Fuel distributor

Londonderry May 13 315.5 -2% 2.5 43% 129 Hugh & Elizabeth Nicholl (100%)

81 120Independent Clinical Services Healthcare staff recruiter

Central London Dec 13 314.0 38% 26.0 111% 847TowerBrook (>50%), Management (




101RG Carter Building contractor

Norwich Dec 13 261.4 10% 3.8 -10% 1,094 Robert Carter & family (100%)

102 124MON Motors Car dealer

Cwmbran Dec 13 258.3 16% 3.3 136% 626 Cleverly family (100%)

103 119Yeo Valley Yoghurt & dairy maker

Bristol Jun 13 256.1 12% 5.3 28% 1,657 Mead family (100%)

104 159Motorline Holdings Car dealer

Canterbury Dec 13 254.9 34% 5.2 116% 611Gary Obee (33.3%), Glen Obee (33.3%), Thomas Obee (33.3%)

105 147The Best Connection Recruitment consultancy

Birmingham Nov 13 *254.7 28% n.a. -100% 630Co-founders (71%), other management (29%)

106 185Spire Automotive Car dealer

Watford Dec 13 251.5 51% 6.0 18% 386Darren Guiver (70%), Kim Richardson (30%)

107Princess Yachts International Motor yacht builder

Plymouth Dec 12 249.9 20% 20.4 -25% 2,271 L Capital & others

108 111Arco Safety equipment supplier

Hull Jun 13 249.2 2% 13.5 26% 1,443 Martin family (97%), other (3%)

109 133ScS Sofa & carpet retailer

Sunderland Jul 13 245.6 18% 6.9 205% 1,531 Sun Capital Partners Inc (100%)

110 138Office Shoe retailer

Central London Jan 13 243.4 19% 30.9 21% 2,823Silverfleet Capital (68%), management & staff (32%)


Aberdeen Sep 13 242.8 136% 53.9 769% 816Oaktree Capital Managements (63%), other (37%)

112 145Day Lewis Pharmaceuticals retailer

Croydon Mar 14 *240.8 20% *18.5 7% 1,427 Kirit Patel (100%)

113 129Wellness Foods Health food manufacturer

Surrey Dec 13 239.1 11% 10.3 13% 1,494Erbium Capital (72%), Bank of Ireland (13%), others (15%)

114 126Polestar Contract printer

Dunstable Sep 13 238.9 10% 10.5 33% 1,847 Sun European Partners (100%)

115Midwich Audio-visual products distributor

Norfolk Dec 13 *233.7 11% *8.5 13% 425Stephen Fenby & family (90%), others (10%)

116 125Drive Motor Retail Car dealer

Leicester Dec 13 233.2 5% 3.7 11% 699Steve Bessex (49.5%), Paul Manning (49.5%), General Motor UK (1%)

117 149Cognita Schools operator

Milton Keynes Aug 13 232.6 18% 9.1 236% 4,098Bregal Capital, KKR, management

118 146Gardners Books Book & DVD wholesaler

Eastbourne Feb 14 *232.2 16% *6.3 -11% 1,083Yvette Stafford (30%), Jonathan Little (30%), Andrew Little (30%), Alan & Jean Little (10%)

119Anglian Group Home products supplier

Norwich Mar 14 229.9 10% 11.6 49% 1,961Consortium of financial institutions (94%), management (6%)

120 150Gardline Shipping Marine science services provider

Great Yarmouth Apr 13 228.8 16% 19.1 -32% 1,662 Gregory Darling & family (100%)

121 173William Jackson Food Group Food producer

North Humberside

Apr 13 228.5 27% 12.9 19% 1,729Jackson family (88%), former employees (12%)

122JW Galloway Beef & lamb processor

Stirling Mar 13 228.2 5% 4.2 274% 749Ian Galloway CBE & family (87%), others (13%)

123HSS Hire Group Tool & equipment hirer

Heathrow Dec 13 225.8 24% 19.8 881% 2,612Exponent (>50%), management (




126Sandicliffe Car & van dealer

Nottingham Dec 13 221.5 19% 3.4 70% 611Woodhouse & Barton families (100%)

127 167Tunstall Healthcare technology supplier

West Yorkshire Sep 13 221.0 21% 10.2 -39% 2,912Charterhouse (62%), Bridgepoint Capital (18%), management (20%)

128 157Johnsons Cars Car dealer

Redditch Dec 13 221.0 15% 2.3 13% 643Management (53%), Dale family (47%)

129 132Global Radio Radio broadcaster

Central London Mar 13 219.5 5% 37.1 12% 1,111 Private shareholders (100%)

130 130Control Risks Risk management consultancy

Central London Mar 14 *218.2 3% *21.8 63% 2,220Management, employees & ex-employees (73%), NVM Private Equity (20%), Hiscox (7%)

131Longcross Construction consultancy

Surrey Mar 13 216.0 5% 1.2 22% 331John Beament (40%), Gary Earle (30%), Mark English (30%)

132Sigma Pharmaceuticals Pharmaceutical distributor

Watford Aug 13 214.9 21% 2.4 39% 270Bharat Shah & family (66%), Orion Trust (34%)

133 168Westover Group Car dealer

Bournemouth Dec 13 211.9 17% 6.0 14% 551Peter Wood & family trust (100%)

134 162Sparrows Offshore Group Offshore services provider

Aberdeen Dec 13 211.7 14% 15.5 10% 1,855 AEA Investors, management

135 94Stewart Milne Housebuilder

Aberdeen Jun 13 211.1 -21% 16.6 10% 724 Stewart Milne & family (100%)

136Forth Ports Port facilities provider

Edinburgh Dec 12 211.0 15% 63.7 21% 1,197Arcus Capital European Infrastructure Fund (63%), Canadian Public Sector Pensions Fund (37%)

137 163Peoples Car dealer

Edinburgh Jul 14 *210.5 13% *4.4 7% 393Brian Gilda (85%), Stewart Ramsay (15%)

138Alliance Medical Diagnostic imaging services

Warwick Mar 14 *210.2 -4% *24.2 297% 1,417Banking syndicate of Lloyds, Commerzbank & M&G Investments, management

139 196Dr Martens Shoe manufacturer & retailer

Northamptonshire Mar 14 *209.1 30% *29.6 22% 759Permira (70%), Griggs family & settlements (20%), management (10%)

140 152Ferndale Foods Ready-meals producer

Somerset Mar 13 208.8 8% 7.5 21% 2,445Bigwood family (96%), S Harmer (4%)

141 153LGC Analytical services laboratory

Southwest London

Mar 14 *207.3 8% *7.9 13% 1,948Bridgepoint (>50%), management (




151 221Essence Digital marketing agency

Central London Mar 14 *200.3 42% n.a. -100% 476Matt Isaacs (40%), Andy Bonsall (24%), Andrew Shebbeare (24%), other management (12%)

152 174Fat Face Clothing retailer

Hampshire May 14 *200.1 12% *30.8 32% 2,574Bridgepoint Capital (77%), management & staff (6%), other (17%)

153 200CHI & Partners Advertising agency

Central London Sep 13 199.9 26% 4.9 18% 249 WPP (49%), management (51%)

154CNG Commercial gas supplier

Harrogate Apr 14 *196.6 25% *5.2 85% 74Jacqui Hall (28.3%), Tim Jones (28.3%), Chris England (28.3%), other management (15%)

155Heron Food Group Discount food retailer

Melton, East Yorkshire

Dec 12 194.7 20% 4.4 -38% 2,438Andrew Heuck (33.3%), David Heuck (33.3%), Michael Heuck (33.3%)

156Holdcroft Car dealer

Stoke-on-Trent Dec 13 194.4 22% 2.1 -341% 396 Terry Holdcroft & family (100%)

157Ogilvie Group Vehicle lessor

Stirling Jun 14 *194.0 12% *3.0 62% 470 Ogilvie family (100%)

158 210Kitwave Wholesale Group Food & drink wholesaler

North Shields Apr 13 193.1 25% 3.8 53% 299Paul Young (56%), NVM Private Equity (40%), David Brind & David Brock (4%)

159 158Wood Mackenzie Energy research consultancy

Edinburgh Dec 12 190.8 21% 79.5 21% 829Hellman & Friedman (63%), Charterhouse (13%), management & staff (24%)

160 212Lakehouse Asset & energy support services

Romford Sep 13 190.6 24% 7.3 48% 683Steve Rawlings (47%), Stuart Black (11%), Carol King (10%), other (32%)

161 180Drayton Group Car dealer

West Midlands Dec 13 190.5 10% 3.5 17% 378Guest family (77%), Ken & Jane Forbes (23%)

162Huntswood Customer service provider

Reading Sep 13 190.4 39% 42.4 47% 1,695David Brownlow (61%), management (39%)

163Crown Oil Fuel & lubricant distributor

Bury Aug 13 188.4 19% 5.9 41% 147 Greensmith family (100%)

164The Emerson Group Builder, property developer

Cheshire Apr 14 *187.9 14% *67.2 20% 509Peter Emerson Jones & family trusts (100%)

165Pentagon Freight International freight forwarder

Orpington, Kent Apr 13 186.0 18% 5.5 25% 496Geoffrey Smith (84%), management (16%)

166Kent Foods Food distributor

Glasgow Dec 13 185.9 25% 4.6 -27% 83Janet Dalglish (47%), Iain Dalglish (46%), Donal Kennedy (7%)

167 169JJ Food Service Food distributor

Enfield Mar 13 185.5 3% 4.5 89% 826 Kiamil family (100%)

168Rocco Forte Hotels Luxury hotel owner & manager

Central London Apr 13 185.4 2% 22.0 98% 2,280Sir Rocco Forte, family & trusts (99%), third-party investors (1%)

169 192Beadles Group Car dealer

Kent Mar 14 184.7 13% 3.2 16% 406Paul Boast (47.3%), Peter Liddle (47.3%), Richard Johnson (5.4%)

170 204The Hut Group Online retailer

Northwich Dec 13 184.3 17% 9.1 49% 747Founders & management (40%), private equity consortium & other investors (60%)

171 214AH Worth Farmer & food distributor

Lincolnshire May 13 183.7 21% 5.4 -6% 767 Worth Family (100%)

172Freshways Dairy

West London Dec 13 *182.0 24% *3.1 145% 361 Nijjar family (100%)

173 229Gamesys Online gaming developer

Central London Mar 13 181.5 27% 57.5 25% 647Co-founders (65%), management & business angels (35%)

174Forth Holdings Specialist electrical contractor

Stirling Aug 13 180.8 11% 4.4 -35% 1,896Duncan S Fletcher & family (93%), other (7%)

175Toomey Group Car dealer

Essex Dec 13 180.6 13% 7.0 5% 459 Michael Toomey (100%)

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176 186JRL Group Construction contractor

Hertfordshire Dec 13 180.4 8% 3.4 19% 368John Reddington (34%), Peter Moran (33%), Kevin Keegan (33%)

177 220DCS Group (UK) Toiletry products distributor

Stratford-upon-Avon

Dec 13 179.7 21% 3.2 -10% 315 Denys Shortt (100%)

178 227Megger Electrical products manufacturer

Dover Nov 13 179.2 26% 22.3 15% 1,230TBG, on behalf of Thyssen-Bornemisza family (100%)

179Park Resorts Caravan park operator

Hemel Hempstead

Mar 14 *178.9 10% *24.8 8% 2,148Electra Partners (54%), GI Partners (21%), management (25%)

180 205Wrights Group Bus manufacturer

Ballymena, Co Antrim

Sep 13 178.9 14% 4.6 6% 1,370 Jeffrey Wright (100%)

181 206Fresh Direct Food distributor

Bicester Aug 13 178.8 14% 3.4 -18% 862Nigel Harris (60%), Colin Harris (40%)

182NSL Traffic services provider

West London Dec 13 178.7 17% 2.7 -45% 4,790AAC Capital Partners (78%), management (22%)

183 207Reynolds Food distributor

Hertfordshire Dec 13 178.5 14% 3.0 96% 694 Reynolds family (100%)

184 202Eric Wright Group Construction contractor

Preston Dec 12 178.2 13% 3.4 6% 538Eric Wright (51%), Wright family charitable trust (49%)

185Albert Bartlett Potato grower

Lanarkshire May 13 175.3 32% 9.5 5% 877 Ronnie Bartlett (100%)

186Photobox Group Personalised product retailer

Central London Apr 14 175.3 19% 15.7 -3% 768Investors including Insight Venture Partners, Highland Capital Partners, Index Ventures & HarbourVest

187 199Dovecote Park Premium meat supplier

Pontefract Sep 13 174.9 10% 4.5 26% 612Benoni Holding Corporation (33.3%), David Gunner (33.3%), Richard Canvin (33.3%)

188 247Snows Motor Group Car dealer

Southampton Dec 13 174.3 34% 1.9 17% 489Snow family (90%), management (10%)

189Lagan Construction Group Builder & civil engineer

Belfast Mar 13 174.3 36% 4.7 232% 411 Michael Lagan (100%)

190 193Tayto Crisp & snack manufacturer

Craigavon, Co Armagh

Jun 14 *174.0 5% *6.1 11% 1,419 Hutchinson family (100%)

191Ovo Energy Energy supplier

Bristol Dec 13 171.7 67% 2.0 -332% 247Stephen Fitzpatrick (50%), Sophia Fitzpatrick (50%)

192 184Addison Lee Minicab & courier services provider

Central London Aug 13 171.7 8% 21.5 117% 629 The Carlyle Group, Liam Griffin

193 181GO Outdoors Outdoor equipment retailer

Sheffield Jan 13 171.0 11% 3.0 -39% 1,8193i & YFM (40%), management (60%)

194Fayrefield Foods Dairy product marketer

Crewe Dec 12 170.7 -21% 2.5 23% 91 John Kerr (100%)

195 182NFT Distribution Grocery logistics provider

Derbyshire Mar 13 169.7 11% 6.3 12% 1,856 EmergeVest, management

196Symington's Convenience foods manufacturer

Leeds Feb 14 167.9 12% 7.4 -22% 782Intermediate Capital Group (>50%), management (




201MKM Building Supplies Builders merchant

Hull Sep 13 163.1 14% 7.3 3% 704Management (56%), 3i (34%), LDC (10%),

202Jeyes Cleaning products maker

Cambridge Dec 12 163.1 -14% 4.1 11% 9113i & SVP Global (92%), Nish Kankiwala (5%), Mark Tyldesley (3%)

203Mulalley Construction contractor

Essex Mar 14 162.8 20% 13.1 54% 589O'Malley family (80%), Teresa Taylor (20%)

204Mount Anvil Property developer & contractor

Central London Dec 13 161.4 196% 15.4 53% 130Killian Hurley (71%), Mount Anvil Pension Scheme (15%), Kieran Hurley (5%), others (9%)

205Principal Hayley Hotel operator

Harrogate Dec 13 161.0 5% 27.5 25% 3,039Starwood Capital Group (92%), Management (8%)

206 191Johnston Oils Oil distributor

West Lothian Dec 13 *160.3 -2% *2.0 89% 144 Johnston family (100%)

207Phipps & Co Conglomerate

Malvern Mar 13 160.3 30% 5.1 6% 283 Phipps family (100%)

208Adare Marketing services provider

West Yorkshire Oct 13 160.0 6% 4.8 13% 812Caird Capital (75%), Management (25%)

209 219Oasis Dental Care Dental care provider

Bristol Mar 14 *158.1 6% *9.2 18% 2,181 Bridgepoint & management

210Ford & Slater HGV dealer

Leicester Dec 13 157.3 6% 1.8 27% 426 Strevens family (100%)

211Baxters Food producer

Aberdeen Jun 13 157.0 17% 9.9 14% 994Baxter Family (84%), IFG Corporate Services (16%)

212Suttons Group Logistics & supply chain services

Cheshire Apr 14 *156.9 1% *10.4 17% 775 Sutton family trusts (100%)

213LWC Drinks distributor

Manchester Sep 13 156.7 24% 4.8 17% 465Robin Gray (55%), John Edward Trust (33%), Ebrahim Mukadam (12%)

214The Dune Group Footwear retailer

Central London Feb 14 156.5 6% 4.6 71% 2,066Daniel Rubin (87%), others (13%)

215British Engines Engineer

Newcastle upon Tyne

May 14 156.3 12% 19.4 28% 1,173Lamb family & management (100%)

216 208Chain Reaction Cycles Online bike retailer

County Antrim Dec 12 155.6 14% 1.1 -89% 614 Watson family (100%)

217Charles Tyrwhitt Shirts Clothing retailer

Central London Aug 14 *155.3 22% *16.3 6% 700Nick Wheeler (95%), Peter Higgins (5%)

218Specialist Cars Car dealer

Stevenage Dec 13 155.1 13% 1.6 -5% 289Michael Donovan (50%), Clive Fletcher (50%)

219Hatfields Car dealer

Wakefield Jan 14 155.0 27% 4.5 55% 324 Williams family (100%)

220Uniserve Freight forwarder

Essex Mar 13 154.5 28% 2.9 -16% 243 Iain Liddell & family (100%)

221Barbour Clothing manufacturer & distributor

South Shields Dec 13 152.4 11% 29.4 20% 818Dame Margaret Barbour (51%), Barbour family trust (46%), Barbour Foundation (3%)

222Pork Farms Food producer

Nottingham Mar 13 152.1 7% 3.1 196% 1,439Vision Capital (majority), management (minority)

223The Car People Car dealer

Wakefield Apr 14 *152.1 12% *4.8 25% 342Carnell family (76%), other management (24%)

224Lucy Switchgear Electrical component manufacturer

Oxford Dec 13 152.1 21% 20.8 51% 1,090 Dick family (100%)

225Spearhead International Integrated food & agri business

Cambridgeshire Dec 13 152.1 13% 19.1 4% 1,423Altima LLP (42%), directors (12%), others (46%)

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226Davies Turner Logistics, freight operator

Warwickshire Mar 14 *150.9 2% *4.6 29% 802Stephenson family (94%), others (6%)

227Immediate Media Co Magazine publisher

West London Mar 13 150.7 32% 12.8 31% 846 Exponent (100%)

228 216ghd Hair products supplier

Central London Dec 12 150.4 -3% 27.2 26% 672Lion Capital (>50%), management (



THE RULES OF ENGAGEMENT

The tenth annual Top Track 250 league table ranks Britains leading private mid-market growth companies by latest sales. It complements the Top Track 100 annual league table of Britains private companies with the biggest sales, listing the next 250 firms.

Criteria: Companies must be profitable and report a minimum 10% increase in either sales or operating profit in their latest accounts. Sales are taken from a companys latest accounts and exclude shares from joint ventures and associate companies. Profits are defined as operating profits before exceptional items, joint ventures and impairment of assets. For accounting periods not equal to a year, financials have been presented in proportion on an annual basis. Only companies reporting turnover for financial years ending after December 2012 are included.

Companies had to be registered in the UK and be independent, unquoted and ultimate holding companies.

Exclusions: Quoted companies, subsidiaries, joint venture/consortium organisations, companies that generate the majority of sales through quoted subsidiaries, not-for-profit companies, co-operative societies, mutual societies, housing associations, member-owned buying groups and partnership structures are all excluded.

Data collection: Sources used included Bureau van Dijks Fame, Companies House and Experians MarketIQ. Some companies nominated themselves or were nominated by advisers; others were identified through research. Fast Track also reviewed and accepted draft accounts.

The research was concluded on 1 August, 2014. Accounts filed after that date were not able to be considered.

Incomplete data: Private company information can be incomplete and, while every effort is made to include all qualifying companies, there may be omissions.

Disclaimer: The companies in the Top Track 250 are not endorsed, guaranteed or recommended by the sponsors or Fast Track, nor are they necessarily the best-run companies.

Nominations: These can be made at Fasttrack.co.uk or sent to [email protected]

Some exceptions were made to the qualification criteria set out above. The compilers decision is final and no correspondence will be entered into.



Mo MeraliHead of Private Equity, Partner

Alan DaleUK Head of Business Consulting, Partner

Dynamic organisations know they need to apply both reason and instinct to decision-making. At Grant Thornton UK LLP, this is how we advise our clients every day. We combine award-winning technical expertise with the intuition, insight and confidence gained from our extensive sector experience and a deeper understanding of our clients. The real benefit for dynamic organisations is more meaningful and forward-looking advice that can help to unlock their potential for growth.

In the UK, we are led by more than 185 partners and employ 4,200 of the profession's brightest minds. We provide assurance, tax and specialist advisory services to over 40,000 privately held businesses, public interest entities and individuals nationwide.

Grant Thornton is one of the world's leading independent assurance, tax and advisory firms.

www.grant-thornton.co.uk

SPONSORS & MEDIA PARTNER

Fast Track would particularly like to thank Grant Thornton for their fifth year of title sponsorship, Barclays for their sponsorship for a third year, and The Sunday Times for their continued support of the Top Track 250 for the last decade.

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

Sponsors



Gavin IsleCo-Head of UK & Ireland, and Head of South Region

Richard PhelpsManaging Director, Wealth, Head of Corporate & Employer Solutions

Barclays is a major global financial services provider with an extensive international presence in Europe, the Americas, Africa and Asia.

We provide corporate banking solutions to businesses with an annual turnover of more than 5 million in the UK, and to large local companies, financial institutions and multinationals in non-UK markets. We support the success of our clients by providing lending, risk management, cash and liquidity management, trade finance, and asset and sales financing.

Our Corporate and Employer Solutions team works with businesses of any size, offering objective and tailored advice across employee benefits, stock & reward plans and business risk solutions to help employers release the potential within their most important asset their people.

For further information about Barclays, please visit our website www.barclays.com.

The Sunday Times has been Fast Track's media partner for all 18 years.

The Sunday Times is Britains No 1 newspaper for business, and the leading broadsheet newspaper attracting over three million readers every week. More than half (54%) of the business elite read The Sunday Times, a greater market share than any other publication, according to the latest Ipsos survey.

The Sunday Times business section celebrates its 50th anniversary this year.

www.thesundaytimes.co.uk

Dominic O'ConnellBusiness editor

Media partner



Hamish StevensonFounder & CEO

ABOUT FAST TRACK

Compiler & publisher

Hamish Stevenson owns and runs Fast Track, which he founded in 1997 after securing cornerstone sponsorship from Richard Branson.

He is an associate fellow at Green Templeton College, Oxford University, where he completed his doctorate and subsequently established and held the Virgin research fellowship in entrepreneurship.

The authors

Richard Tyler leads Fast Tracks research and editorial, working closely with sponsors and companies within our network.

He was the enterprise editor of The Daily and Sunday Telegraph for nine years, covering private companies and government policy towards business. He trained in journalism at Euromoney, part of The Daily Mail & General Trust, after completing his degree at Manchester University.

Mike Harding is responsible for managing the research for the Top Track 250.

He trained as a chartered accountant with Grant Thornton (Oxford) and has an audit and corporate finance background. He has a degree in mathematics from Birmingham University.



CONTACT DETAILS

Fast Track Angel Court 81 St Clements Street Oxford OX4 1AW

Tel: 01865 297 100 Fax: 01865 297 001

Email: [email protected] Web: www.fasttrack.co.uk twitter: @ST_FastTrack

Fast Track

Top Track 250 is compiled by Fast Track, the UK's leading face-to-face networking events and research company, which focuses on top-performing private companies and entrepreneurs.

Its annual national awards events and bespoke dinners provide an opportunity for entrepreneurs and directors to network and to meet the sponsors.

Fast Track has compiled league tables on private companies in partnership with The Sunday Times for the last eighteen years. It publishes five other annual private company league table awards programmes:

Tech Track 100 ranks Britain's private technology companies with the fastest-growing sales

Fast Track 100 ranks Britain's private companies (excluding TMT) with the fastest-growing sales

International Track 200 ranks Britain's mid-market private companies with the fastest-growing international sales

Profit Track 100 r

Top Track 250 Re Puk

Documents

Transcript of Top Track 250 Re Puk