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Research report 2017Britain's private companies with the fastest-growing sales

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Fast Track 100 research report 2017 ii

CONTENTSINTRODUCTION 1Top 10 Fast Track 100 companies 1

EXECUTIVE SUMMARY 2 Overview 2 Key themes 2

KEY STATISTICS 3Sales breakdown 3Staff and job creation 3Foundation date 3Profitability 4Operating profit margins 4 Ownership 5External capital 5Sector breakdown 6Industry breakdown 6 Regional breakdown 7 Sustained growth 7

21 YEARS OF FAST TRACK 100 8 Stock market flotations 8 Mergers & acquisitions 9 Failures 9 Example Fast Track 100 alumni 10

KEY THEMES & SELECTED COMPANY PROFILES 11Young founders 11 Women founders 12 External capital 13 Ecommerce 14 International activity 15 Manufacturing 16 Acquisitions 17 Emerging brands 18

2017 FAST TRACK 100 LEAGUE TABLE 19 Fast Track 100 league table 19 Ones to Watch 10 23Disruptors to Watch 10 24

METHODOLOGY 25 Qualification criteria 25 Research approach 25 Disclaimers 25

SPONSORS & MEDIA PARTNER 26

ABOUT FAST TRACK 29 Compiler & publisher 29 The authors 29 Fast Track 29

CONTACT DETAILS 30


Fast Track 100 research report 2017 1

Top 10 Fast Track 100 companies

INTRODUCTIONThis is the 21st year of The Sunday Times Virgin Fast Track 100, the league table of Britain’s private companies with the fastest-growing sales. Virgin is the title sponsor of the league table, and Barclays, BDO, BGF, and Virgin Media Business are main sponsors. The league table identifies growth companies across all sectors except technology, which is covered in our sister league table, Tech Track 100.

Over the past 21 years, the Fast Track 100 has become the definitive barometer of privately-owned growth companies in the UK and has featured many companies that have gone on to greater success. Past stars include chip designer ARM, which was acquired by Japan's SoftBank for £24bn last year; mixer drinks maker Fever-Tree, which floated in 2014 and is now worth £2.3bn; and innocent, which sold a majority stake to Coca-Cola in 2013, valuing the company at £440m.

1,480 companies have featured on the Fast Track 100 over the 21 years. Forty companies have floated, a quarter (370 companies) have been acquired, and just 15% (230) have gone bust; despite over 50% of startups failing after four years.

This year’s 100 companies achieved, on average, sales growth of 65% a year over their last three years of accounts, to a combined total of £3.9bn. They employ 19,300 staff, and have added 14,000 jobs over the same period, some as a result of acquisitions. Some of this year's household names include burger restaurant chain Five Guys (No 8), fashion retailer Missguided (No 61), and brewery BrewDog (No 62).

§ compound annual growth rate between 2013/14 and 2016/17 * supplied by company

Rank 2017

Rank 2016

CompanyActivity

HQ location

Year end

Annual sales

growth over 3 yrs§

Latest sales £000

Staff

Founded

Comment

1 6 AerFin Aircraft and spares services Caerphilly Dec 16 231.26% 60,881 73 2010 Has secured a seven-year contract to provide

component support for 20 British Airways’ jets

2 P2 Consulting Management consultancy Central London Dec 16 198.49% *8,937 26 2013 Helps blue-chip companies tackle complex

challenges such as planning for Brexit

3TFS Healthcare Healthcare recruitment consultancy

Central London Mar 17 175.16% *32,472 80 2010 Employs Romanian, Spanish, and Portuguese speaking staff to help it recruit from the EU

4 Veezu Taxi hire provider Newport Dec 16 157.03% 20,295 223 2013 Services 25m passengers a year through its

3,500 drivers

5 Plimsoll Productions TV show producer Bristol Aug 17 148.65% *14,636 42 2013 Its wildlife documentary Earth Live was

broadcast live in more than 170 countries

6 All Good Snack manufacturer Gateshead Dec 16 146.50% 18,023 137 2012 Manufactures chocolate-covered tortilla chips

for M&S

7 Cult Beauty Online beauty retailer Central London May 17 131.35% *37,641 65 2008 Its high-profile investors include Net-a-Porter

co-founder Carmen Busquets

8 Five Guys Burger restaurant chain West London Dec 16 129.29% 90,426 1,707 2013 Is backed by Carphone Warehouse founder Sir

Charles Dunstone

9 5 CarFinance247 Vehicle finance provider Manchester Jun 17 120.84% *38,559 418 2006 Says over £30m-worth of loans are completed

every month via its website

10 2 Loveholidays Online travel agency Central London Oct 16 120.33% 23,220 223 2012 Is now the seventh largest ATOL holder in the

UK, after being founded just five years ago

Founder and chief executive Bob James of this year's No 1 company, Aerfin, an aircraft and spares services provider



EXECUTIVE SUMMARYOverview• This year’s Fast Track 100 companies increased their sales

by an average of 65% a year over three years from a total of £860m to £3.9bn

• Combined operating profits of the 100 companies were £398m, and more than half of the companies (55) increased their operating profit margins over the last three years

• 67 companies are majority-owned by an entrepreneur and/or founders

• Services (40 companies) and manufacturing (33) are the dominant sectors on the league table

• The majority of the companies are based in London (34) and the Southeast (16)

Key themesYoung founders: More than a third (37%) of the founders were 30 or younger when they set up their businesses [page 11]

Women founders: There are 20 female founders on this year’s league table, the highest number in the 21 years of Fast Track 100 [page 12]

External capital: Forty-four companies have raised external capital from PE/VC firms, business angels, or corporate investors, which is a record on Fast Track 100 [page 13]

Ecommerce: More than a quarter of companies (29) sell goods or services online, with 13 launching international websites to trade overseas [page 14]

International activity: More than half the companies (58) have expanded overseas to boost revenue growth [page 15]

Manufacturing: Thirty-three companies are engaged in manufacturing, either directly or indirectly (by outsourcing to third parties) [page 16]

Acquisitions: A quarter of the companies (25) have grown in part due to acquisition [page 17]

Emerging brands: Some companies are becoming household names, including appliance manufacturer Gtech (No 54), brewer BrewDog (No 62), fashion retailer Missguided (No 61), restaurant operator Leon (No 71) and gym operator PureGym (No 94) [page 18]

Characteristics of a typical Fast Track 100 company in 2017SalesAverage growth over three years 65% pa

Sales in 2013/14 £8.6m

Sales in 2016/17 £38.9m

ProfitsOperating profit in 2016/17 £4m

Margin 12%

StaffTypical number of staff in 2016/17 20-500

Typical increase in staff over three years 58% pa

Company characteristicsRegion London & southeast (50)

Sector Services (40)

Founded 2008

Majority ownership Entrepreneur and/or founders (67)

Angel, VC or corporate investment 44

Growth in sales

Number of companies in each range of compound annual growth rate (CAGR) of sales over latest 3 years

>150%

80%–150%

60%–80%

50%–60%

40%–50%

4

34

27

25

10



KEY STATISTICSSales breakdown• The top ranked company, Welsh aircraft and spares services

provider Aerfin, grew sales by 231% a year, from £1.7m in 2013 to £60.9m in 2016

• The 100th ranked company is Maidstone-based housebuilder and contractor Chartway Group. Its sales grew 46% a year, from £21.8m in 2014 to £68.6m in 2017

• Fashion retailer Missguided (No 61) reported the highest sales on the table at £205.8m. Raw pet food manufacturer Nutriment (No 50) had the lowest sales at £5.5m

• More than four fifths of the companies (82) had sales of more than £10m in their latest year. 25 companies reported sales in excess of £50m, including appliance manufacturer Gtech (No 54) and shared workspace provider The Office Group (No 44)

Staff and job creation• The 100 companies employed more than 19,300 staff

in 2016/17, which accounts for average revenues per employee of approximately £201,700

• Some 14,000 jobs have been added by the 100 companies over the past three years, which means that their combined workforce has almost quadrupled during that period

• However, some of these jobs are a result of acquisitions. For example, furniture supplier Southerns (No 37) almost tripled staff numbers to 202 in 2017, having grown partly through five acquisitions since 2015

• The biggest employers on the league table were burger restaurant chain Five Guys (No 8) with 1,707 staff, and pub & restaurant operator New World Trading Company (No 56), with 858

• Seven companies directly employed fewer than 25 staff, including film producer and distributor Altitude Film Entertainment (No 84) with 17 staff and sales of £10.9m, and bespoke uniform designer Beat Concepts (No 26), with 13 staff and annualised sales of £7.4m

Foundation dateFast Track 100 companies are typically young and dynamic, with 92 founded after the turn of the century, and 17 founded in the last five years. Six companies were founded in 2013, including TV show producer Plimsoll Productions (No 5) and adventure course operator Zip World (No 45).

Rank Company Activity

2016/17 sales £m

61 Missguided Fashion retailer 205.8

75 Story HomesHousebuilder 173.8

15 GreenTech Distribution Mobile phone recycler & distributor 160.2

94 PureGymGym operator 159.9

97 Frank Recruitment GroupIT recruitment consultancy 126.5

Companies with the biggest sales

Sales breakdown

Number of companies in each sales range

32

>£50m

£21m–£50m

£10m–£20m

<£10m

25

25

18

Number of employees

Number of companies in each employee range

>500

151–500

101–150

51–100

26–50

<=25 10

2022

32

9

6

26

20

7



Profitability• The Fast Track 100 companies are required to make an

operating profit of at least £500,000 in their most recent financial period

• Combined operating profits of the 100 companies were £398m in 2016/17, up fivefold from £69m three years ago in 2013/14

• Housebuilder Story Homes (No 75) achieved the highest operating profits of £26.2m on sales of £173.8m in 2017

Operating profit margins• Ennismore (No 19) achieved the highest profit margin of

51.5%. The hospitality developer and operator had an operating profit of £7.5m on sales of £14.6m in 2016

• The average profit margin of the Fast Track 100 companies was 12% in 2016/17

• More than half of the companies (55) increased their profit margins over the last three years. These include companies moving from loss to profit such Five Guys (No 8), and others more than doubling margins, such appliance manufacturer Gtech (No 54), which had a margin of 10.5% on sales of £91.2m in 2016

10 companies with the biggest profits

RankCompany Activity

Latest FYE

OP £m

Sales£m

OP margin

75 Story Homes Housebuilder Mar 17 26.2 173.8 15.1%

27 Burnley Football ClubFootball club Jun 17 25.0 120.0 20.8%

81 AlphaSightsBusiness information services Dec 16 22.8 66.5 34.3%

35 Enra Group Specialist loan provider Dec 16 19.0 39.0 48.6%

57 ENDOnline menswear retailer Mar 17 16.6 69.8 23.8%

97 Frank Recruitment GroupIT recruitment consultancy Nov 16 15.5 126.5 12.2%

94 PureGym Gym operator Dec 16 15.4 159.9 9.7%

44 The Office Group Shared workspace provider Dec 16 11.3 69.9 16.1%

98 WorldFirstInternational payment provider Dec 16 11.2 83.6 13.4%

54 Gtech Appliance manufacturer Nov 16 9.6 91.2 10.5%

10 companies with the biggest profit margins

Rank Company Activity

Latest FYE

OP margin

OP£m

Sales£m

19 EnnismoreHospitality developer and operator Dec 16 51.5% 7.5 14.6

35 Enra GroupSpecialist loan provider Dec 16 48.6% 19.0 39.0

224mostCredit risk analytics consultancy

Sep 17 34.8% 6.8 19.6

81 AlphaSightsBusiness information services Dec 16 34.3% 22.8 66.5

87 Blackrock Expert ServicesDispute resolution consultancy Oct 16 32.6% 8.4 25.7

26 Beat ConceptsBespoke uniform supplier Jul 16 30.7% 2.3 7.4

80 Send For Help Lone-worker protection provider Mar 17 29.9% 2.4 7.9

82 Darwin Group Secured loans provider Dec 16 29.3% 3.6 12.2

2 P2 ConsultingManagement consultancy Dec 16 29.0% 2.6 8.9

85 Net World Sports Online sports goods retailer Sep 17 28.0% 5.1 18.2

Fred Story founded Story Homes (No 75) 30 years ago. The Carlisle housebuilder more than quadrupled operating profits over the past three years to £26.2m in 2017, with a healthy margin of 15%



Ownership

• 67 companies are majority-owned by entrepreneurs and/or founders, such as Redditch-based online sportswear retailer Gymshark (No 12), majority-owned by co-founder Ben Francis

• 13 are majority-owned by private equity/venture capital firms (PE/VC), such as Leeds-based gym operator, PureGym (No 94), which sold a majority stake to US private equity firm Leonard Green & Partners in November, and was reportedly valued at £600m

• Ten companies are majority-owned by management, including football club Burnley FC, whose management team is led by chairman Mike Garlick

• Seven are majority-owned by business angels, such as wedding dress retailer Wed2b (No 18), which sold a 57% stake in 2014 to Javad Mirandi, the billionaire property developer and serial investor

• Three are majority-owned by family, including generator manufacturer Welland Power (No 65), whose management director Charlie Farrows, 37, is the third generation of the family to head up the Lincolnshire company

External capital

A record high of 44 companies have secured equity investment from PE/VC, business angels, or corporations (compared with 21 in 1997 and 42 last year).

• In addition to the 13 companies majority-owned by PE/VC, PE/VC houses hold a minority stake in 17 companies, including Ocee International (No 93), the Northampton-based furniture manufacturer, which secured £10m from growth capital firm BGF for a minority stake in 2016

• 12 companies have received equity investment from business angels, including Cult Beauty (No 7), the London-based online beauty retailer, whose high-profile investors include Net-A-Porter co-founder Carmen Busquets and Lovefilm co-founder William Reeve

• Two companies are backed by corporate investors: housing materials manufacturer Staircraft (No 51), which sold a 15% stake to Travis Perkins in 2015; and furniture designer naughtone (No 39), which sold a 50% non-controlling stake to US furniture giant Herman Miller for an undisclosed sum in 2016

Alistair Gough, CEO of furniture manufacturer Ocee International (No 93), which has been funded by £10m growth capital from BGF

External investor breakdown

Number of companies by external investor type

PE and/or VC

Business angels

Corporate investors 2

30

12



Sector breakdown

• The largest sectors are services (40 companies), manufacturing (33) and retail (32)

• Services (40) encompasses a wide range of industries, including leisure, finance, recruitment and business services. Examples include hotel operator Ennismore (No 19), business information services provider AlphaSights (No 81), and online music distributor Ditto (No 55)

• Manufacturers (33), including those that outsource to third parties, are represented by Willow & Hall (No 70), which designs handmade furniture; and Red Arch (No 63), which manufactures specialist car parts for customers such as BMW and Aston Martin

• Retail (32) mainly comprises companies selling food and drink, fashion, and home furnishings such as restaurant operator Giggling Squid (No 60), fashion accessories retailer Skinnydip (No 43), and bathroom retailer Victorian Plumbing (No 36)

• Construction (16) includes housebuilder Cussins (No 29), and construction contractor MCS Group (No 76), which builds showrooms for the likes of Porsche and Aston Martin

• Wholesalers (6) include Lintbells (No 83), which supplies pet nutritional supplements; and Professor Puzzle (No 90), which sells its toys and puzzles through stockists such as M&S

Industry breakdown• Consumer goods (23) include firms selling their own-branded

products, such as Tropic Skincare (No 32), which specialises in natural beauty products. It also includes companies supplying others’ products, such as Net World Sports (No 85), which sells both mainstream and niche sports equipment. League table companies in this industry represent combined sales of £862m and employ 2,900 people

• Food and drink (17) are represented by restaurant and pub operators, including Honest Burgers (No 31) and Signature Pubs (No 96). The group also includes sports nutrition developer Grenade (No 67) and brewery BrewDog (No 62). These represent combined sales of £530m and employ 6,100 people

• Building related (15) includes housebuilder Hackwood Homes (No 11) and housing materials manufacturer Staircraft (No 51). These companies represent combined sales of £684m and employ 1,300 people

Industry breakdown

Consumer goods 23

Food and drink 17

0

20

40

60

80

100

Leisure 6

Recruitment 5

Automotive and transport 6

Sector breakdown

Number of companies by sector

Construction 16

Wholesale 6

Retail 32 Services 40

Other 11

Building related 15

Business services 12

Manufacturing (inc. outsourced) 33

Note: companies can operate in more than one sector

Finance 5



Regional breakdown• Greater London is home to the highest proportion of Fast

Track 100 companies and is the base for a third of the companies (34), the same number as last year. The next highest is the southeast with 16, compared with 17 last year

• 13 companies are headquartered in the Midlands, including Wolverhampton-based logistics services provider Pallet-Track (No 20)

• 11 are based in the northeast, including Hull-based fish supplier Copernus (No 66); and another 11 are in the northwest, including Liverpool-based car rental provider Easirent (No 52)

• The regions with the lowest representations are: Wales, with five; the East of England and southwest, with three in each; and Scotland and Northern Ireland, with two in each

Sustained growth• 55 companies on this year’s list have not appeared on

any previous Fast Track 100 league table. An example is restaurant operator Leon (No 71)

• 22 companies appear on the league table for a second consecutive year, and 13 make a third consecutive appearance, including gourmet sausage producer Heck! Food (No 21)

• Three companies have appeared for four years in a row: Enra Group (No 35), Missguided (No 61), and Grenade (No 67)

• Two companies have appeared for five years in a row: Alphasights (No 81), and PureGym (No 94)

• One company, BrewDog (No 62), has appeared for a record six consecutive years

The table below shows the six companies that have appeared for four or more consecutive years:

Regional breakdown of HQ in UK

2

5

11

133

3416

3

112

Scotland

Northeast

Northwest

N Ireland

WalesMidlands

East

Southwest

SoutheastLondon

Key30 - 3425 - 2920 - 2415 - 1910 - 145 - 90 - 4

Companies that have featured on Fast Track 100 in consecutive years

Company Activity Latest sales £m

Rank 2017

Rank 2016

Rank 2015

Rank 2014

Rank 2013

Rank2012

Enra Group Specialist loan provider 39 35 23 22 42

Missguided Fashion retailer 205.8 61 67 12 5

BrewDog Brewery 71.9 62 64 35 40 38 29

Grenade Sports nutrition developer 18 67 74 65 33

AlphaSights Business information services 66.5 81 41 21 11 3

PureGym Gym operator 159.9 94 25 9 18 23



21 YEARS OF FAST TRACK 100

Fast Track 100 was launched 21 years ago to recognise Britain’s private companies with the fastest-growing sales.

Where are they now?

Since its launch, 1,480 companies have featured on Fast Track 100. Forty companies have floated, a quarter (370 companies) have been acquired, and just 15% (230) have gone bust; despite typically 50% of startups failing after four years.

Stock market flotations

Forty companies have floated on the stock market, including:

• Moneysupermarket, the financial website operator, first featured in 2003 with sales of £14m, floated in 2007 valued at £843m, and is now worth £1.8bn

• Clipper Logistics, the logistics firm, first featured in 2005 with sales of £22m, floated in 2014 valued at £100m, and is now worth £425m

• Card Factory, the greeting cards retailer, first featured in 2006 with sales of £46m, floated in 2014 valued at £700m, and is now worth £960m

• Hotel Chocolat, the chocolate retailer, featured as No 1 in 2008 with sales of £18.4m, floated in 2016 valued at £167m, and is now worth £390m

• Joules, the lifestyle retailer, first featured in 2008 with sales of £22m; floated in 2016 valued at £140m and is now worth £245m

• B&M Retail, the discount retailer, first featured in 2009 with sales of £256m, floated in 2014 valued at £2.7bn, and is now worth £3.9bn

• Clinigen, the pharmaceutical services provider, featured as No 1 in 2011, floated in 2012 on AIM valued at £135m and is now worth £1.2bn

• Fever-Tree, the mixer drinks manufacturer, first featured in 2011, with sales of £7m, floated on AIM in 2014 valued at £154m, and is now worth £2.3bn

• Patisserie Valerie, the patisserie and café operator, featured in 2011 with sales of £33m, floated in 2014 valued at £170m and is now worth £314m

Co-founders Charles Rolls (left) and Tim Warrilow of mixer drinks maker Fever-Tree, which floated on AIM in 2014 valued at £154m, and is now worth £2.3bn

Simon Arora of discount retailer B&M Retail, which floated in 2014 valued at £2.7bn, and is now worth £3.9bn

Where are they now?

Of the 1,480 companies that have featured

840remain private

40floated

370merged or were acquired

230went bust



Mergers & acquisitions

370 Fast Track 100 alumni companies have merged with or been acquired by other businesses, including:

• ARM Holdings, the Cambridge-based chip designer, featured in the first league table in 1997 with sales of £17m before floating. It was acquired by Japan’s SoftBank in 2016 for £24bn, the largest acquisition of a European tech business

• Travelex, the foreign exchange operator, featured in 2003 with sales of £463m; it was sold to the owner of UAE Exchange for £1bn in 2014

• innocent, the fruit drinks maker, featured five consecutive years since 2004, when it had sales of £11m. Coca-Cola acquired a 90% stake in 2013, valuing the company at a reported £440m

• ghd, the hair products supplier, featured as the No 1 company in 2005. It was acquired by US firm Coty for $510m in 2016

• Euro Garages, the fuel forecourt operator, featured in 2006 with sales of £79m. In 2016 it merged with European Forecourt Retail, creating a business with £3.8bn sales

• NET-A-PORTER, the online fashion retailer, featured in 2006 with sales of £21m. It merged with Yoox in 2015, and the combined group is now valued at £2.6bn

• Markit, the financial information services provider, first featured in 2010 with sales of £305m, and listed in New York in 2014 at a valuation of $4.3bn, and merged with US data provider IHS in a $13bn deal in 2016

• WiggleCRC, the online sports goods retailer, was created in 2016 when Wiggle paid £73m for Chain Reaction Cycles (CRC). Wiggle first featured in 2010 with sales of £56m, while CRC first featured in 2011 with sales of £109m

Failures

15% of the Fast Track 100 companies have gone bust over the past 21 years. This compares favourably with the over 50% of start-ups that fail within four years.

Companies that have failed include Land of Leather, which first featured in 2000 before going into liquidation during the recession in 2009; and Focus DIY, which featured in 2002 but fell into administration in 2011 after having grown to be the fourth largest DIY retailer in the UK.

Sir Robin Saxby, former CEO and chairman of ARM, which featured on the first league table with sales of £17m and was acquired by SoftBank for £24bn last year

Founder Lloyd Dorfman of currency exchange business Travelex, which was sold for £1bn in 2014

Dame Natalie Massenet, founder of NET-A-PORTER, which featured in 2006 with sales of £21m and was sold to Richemont for £350m in 2010; and is now valued at £2.6bn

Lance Uggla created financial data firm Markit in 2003 and merged it with IHS in a $13bn deal in 2016

04.12.16 / 11

FROM the publishers of bestselling booksto the distributors of hit films, Fast Track100’s focus on financial performance cutsthrough the hype to recognise privatecompanies that are not necessarilyhousehold names, but have succeededbyworking behind the scenes.The actress Keira Knightleywas just 17

when she starred in the hit film Bend ItLike Beckham,which helped launch hercareer. Themovie wasmade possible by

Simon Franks’ co-production companyRedbus, whichwas No 1 on the 2003league table, with sales of £15.2m, beforeit sold its production and distributionoperations to the US studio Lionsgate fora reported $35m (£28m) in 2005.A gamble on an obscure crime novel

paid off for another Fast Track 100business, Quercus Publishing, withknock-on effects for the reading habitsof the nation. The Girl with the Dragon

Tattoowas the first in a trilogy of booksthat went on to sell millions of copies andmade the Swedish author Stieg Larsson ahousehold name. Quercus appeared onFast Track 100 in 2011 andwas acquiredbyHodder & Stoughton three years laterfor £12.6m.If you bought one of those Swedish

page-turners on Amazon, youmay haveultimately been dealingwith anotherFast Track 100 company. The Book

Depository, whichwas first featured in2008, was acquired by Amazon foran undisclosed sum in 2011 and nowoffersmore than 16m titles across theUS giant’s platform.Sometimes thework of a Fast Track

100 businessmight be right beneathyour feet. Lion Trackhire supplies itsaluminium trackways for eventsincludingWimbledon and the Leeds andReadingmusic festivals. The business wasfirst ranked on the league table in 2013andwas acquired by a subsidiary ofFTSE 100-listed Ashtead for anundisclosed sum this summer.Other invisible service providers are

helping to keep essential services suchas schools running. Take Softcat, whichprovides IT infrastructure and support.It first appeared on Fast Track 100 in 1999with sales of £9m and is now valued atmore than £600m after listing on thestockmarket in 2015.Another, The Key, provides support to

head teachers in nearly half of all schoolsin England. Started as a government

project in 2007, it was spun off as aprivate business in 2009 under chiefexecutive Fergal Roche, a former headteacher, and ranked on last year’sFast Track 100with sales of £6.9m.Others areworkingwith the NHS to

keep us healthy. Clinigen Group suppliesmedicines to hospitals, pharmacies andindividual patients in the UK andmorethan 100 other countries. Its mainproduct is Foscavir, an antiviral medicinethat is used by HIV-positive people andby patients undergoing bonemarrowtransplants. It was No 1 on the leaguetable in 2011 with sales of £35m, beforefloating on AIM in 2012 at £135m. It isnow valued atmore than £860m.Dr Foster Intelligence— a Fast Track

100 company in 2005, when it had salesof £6.8m— conductsmarket research tobenchmark anything fromGP referrals tohospital mortality rates. It was acquiredby Australia’s Telstra last year in a dealestimated to beworth up to $50m.Some companies are helping to take

the pain out of daily life. Joanne

Whittaker started Fideliti during hermaternity leave in 2005, helped by a£50,000 investment from the Betfredco-founder Fred Done. Her business,which appeared on Fast Track 100 from2011 to 2013, reduces the admin burdenfor companies and employees that usethe government’s childcare vouchers.The ideas for these companies can

come from unexpected situations. Abrainstorm over its co-founders’ sharedgarden fence led to the creation of A-GasInternational in 1993. It suppliesenvironment-friendly gases to replaceharmful CFCs in products such asrefrigerators and insulation foam. Thebusiness supplies overseasmarketsincluding South Africa, where it says itsCape Town plant is the largest of its kindon the continent. It featured on FastTrack 100 in 1998with sales of £12m,which have since grown to £94m.There aremanymore examples from

20 years of Fast Track 100. The economyand our daily lives wouldn’t be the samewithout them.

Not every company on the league table is a household name, butmanyhave had a big impact on Britain, writesChrisMarshall

Heroes behind the headlines

Meet some of Fast Track’s greatest hits

Innocent’s co-founders — Cambridge University friends Adam Balon, Jon Wrightand Richard Reed, above, left to right — dreamt up the idea for this brand while ona snowboarding holiday in 1998. They managed to do what big drinks companieshad told them was impossible: make a profit from 100% fruit smoothie drinksfor a mass market. They built the brand into a household name that appeared onFast Track 100 for a record five consecutive years. Innocent had sales of £207mand operating profits of £28m in 2012 before Coca-Cola acquired a 90% stakein 2013, valuing the company at a reported £440m. The three have since set upJamJar Investments, an early-stage fund investing in consumer brands includingthe snack company Graze, which has appeared in Fast Track 100.

InnocentSimon Arora, pictured above, and his brother Bobby acquired 21 discount shopsin 2004 and have since turned B&M into a group with nearly 600 stores serving3m customers a week in the UK and Germany. Sales stood at £2bn last year.An outrider of the surge in value retailing in the UK, offering everything fromfurniture and electrical goods to clothing and cosmetics, the Merseyside-basedcompany first featured on Fast Track 100 in 2009 with sales of £256m. In 2012the Arora brothers sold a stake to the private equity firm Clayton Dubilier & Rice,valuing the company at £965m, and appointed Sir Terry Leahy, of Tesco fame,chairman. They listed the business on the London Stock Exchange in 2014,when it was valued at £2.8bn.

B&MSet up by 12 engineers led by Robin Saxby, above, in a converted barn in 1990,ARM Holdings designs microchips that are now found in 95% of the world’ssmartphones. In 1997 it featured on the first Fast Track 100 with sales of £17m.Simon Segars joined as ARM’s 16th employee in 1991 and became chief executivein 2013. ARM has championed British technology and in May this year acquiredApical, an imaging software specialist and Tech Track 100 alumnus, for $350m(£284m). It had sales of £968m in 2015 and employed 4,200 people worldwidebefore it was bought by Japan’s SoftBank in September for £24.4bn. As the“internet of things” continues to grow, ARM is set to expand. To support growth, itsnew owner has pledged to double the number of engineers at its Cambridge base.

ARM

“It’s all about the ingredients,” said Charles Rolls, co-founder of Fever-Tree, at lastyear’s Fast Track 100 awards ceremony. He was telling the story of how he andco-founder Tim Warrillow travelled the world to find the right ingredients to createa top-quality tonic to accompany gin. Their Premium Indian Tonic Water, launchedin 2005, was followed by other premium drinks, including lemonade and gingerbeer, which the company now exports to more than 50 countries. It first featuredon Fast Track 100 in 2011 with sales of £6.7m, which grew to £59m in 2015. Thefounders sold a 49% stake to the private equity firm LDC in 2013, before floatingthe business on AIM in 2014, when it was valued at £154m. After repeatedlyexceeding its profit forecasts, it is now worth £1.2bn.

Fever-TreeFounder Lance Uggla struck more than 30 deals to expand his financialinformation firm Markit, before signing the biggest of all — a $13bn (£11bn) mergerof equals with the American data provider IHS in July this year. The firm providesdebt and derivatives pricing, reference data, indices and processing services tomore than 3,000 financial institutions. Uggla started it with a group of colleaguesin a shed in St Albans in 2001 and it was first ranked on Fast Track 100 in 2010,when it had sales of £305m. It listed in New York in 2014, pictured above, at avaluation of $4.3bn, when it raised $1.3bn for further acquisitions. Before themerger with IHS this year, Markit had sales of $1.1bn and more than 4,000employees in 28 offices worldwide.

MarkitCharles Dunstone was 25 when he co-founded Carphone Warehouse in 1989with just £6,000 of savings. He anticipated the rapid adoption of mobile phonesand was recognised on the first Fast Track 100 in 1997 when the companyachieved sales of £65m. He listed it in 2000, when it was valued at £1.7bn, andled it into broadband. In 2010 Carphone Warehouse spun off its broadband arm,TalkTalk — now valued at £1.5bn — and merged the phone retail business withDixons Retail in 2014, to create a £3.8bn group with sales of £9.7bn, operatingprofits of £304m and 42,000 staff. Dunstone, who was knighted in 2012, ischairman of the combined group and has served as an investor in and director ofother fast-growing businesses, including the UK arm of burger chain Five Guys.

CarphoneWarehouse



Example Fast Track 100 alumni



KEY THEMES & SELECTED COMPANY PROFILES

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

Young founders More than a third (37%) of the founders were 30 or younger when they set up their businesses. This compares with 32% on last year’s league table, and 28% a decade ago.

Some of the reasons for this are that young founders have embraced the internet and social media, often to target millennials; and others have turned their hobbies into a business. An example is Ben Francis, 25, who was still at university when he co-founded online sportswear retailer Gymshark (No 12) five years ago.

14 BULK POWDERSSports nutrition brand

Fitness fanatics Elliot Dawes, 35, and Adam Rossiter, 34, set up the firm with £6,000 in 2006

CAGR§ 113%Sales 2016 £23.2mSales 2013 £4.6mOP 2016 £3.6mStaff 95 Founded 2006Location Colchester

Superfood powders, nut butters and whey proteins are among the health and performance products made by this sports nutrition specialist. Its whey protein is used by athletes including Olympic diver Tom Daley. The Colchester firm exports more than 1,000 different food supplements to customers across Europe via its 13 ecommerce sites. It is planning to expand into the increasingly health-conscious US and Chinese markets.

61 MissguidedFashion retailer

Set up in 2009 by Nitin Passi when he was 27 years old, as an online retailer targeting women aged 16 to 35

CAGR§ 59%Sales 2017 £205.8m*Sales 2014 £51.2mOP 2017 £0.6m*Staff 650 Founded 2009Location Manchester

Missguided is now a multi-channel retailer that sells celebrity and trend-inspired fashion for women from its eight international websites, releasing up to 1,000 new styles every week. Customers can shop by trend or occasion from collaborations with high-profile ambassadors, such as supermodel Jourdan Dunn and singer Nicole Scherzinger. It opened its first physical store in Westfield Stratford last year and a second in Bluewater, Kent in June. In September, the Manchester company launched a standalone website for its new menswear label, Mennace.

85 Net World SportsOnline sports goods retailer

Alex Lovén, 30, was inspired after buying a cricket bat via eBay as a teenager, and started the company in his bedroom in 2009

CAGR§ 52%Sales 2017 £18.2m*

Sales 2014 £5.2mOP 2017 £5.1m*

Staff 87Founded 2009Location Wrexham

Net World Sports operates from a 120,000 sq ft warehouse in Wrexham with 87 employees. Sales of both mainstream and niche sports equipment to families, schools and even Premier League football clubs boosted revenue to £18.2m this year. The company also manufactures its own aluminium football goals, for which they were recognised to be an approved supplier of by the Football Association in 2017.

Nitin Passi founded fashion retailer Missguided (No 61) in 2009 when he was just 27, and now has eight international websites and two physical stores




Women founders There are 20 female founders on this year’s league table, which is a record in the 21 years of Fast Track 100. The second highest point was in 2002, with 17 female founders. There were 11 on last year’s league table. Examples include Natasha Thomas, 40, who set up events agency Total Management in 2006, and Fiona Lowry, 52, who started her care provider The Good Care Group in 2009.

32 Tropic SkincareSkincare manufacturer

Former Apprentice contestant Susan Ma, 29, set up the company in 2011 and convinced Lord Sugar, 70, to take a 50% stake

CAGR§ 72%Sales 2017 £12.8m*Sales 2014 £2.5mOP 2017 £3.2m*Staff 75 Founded 2011Location Croydon

Tropic Skincare has 8,000 brand ambassadors who sell its natural beauty products through 'pamper experiences' across the UK. A trend towards ethical consumption has seen sales climb to £12.8m in 2017. In September, the company launched a new range of aromatherapy products, featuring more of its distinctive tropical ingredients, which are freshly made in its Surrey beauty kitchen.

50 NutrimentRaw pet food manufacturer

Suzanne Brock, 46, re-mortgaged her house and used a loan from her mother to start the firm in 2013

CAGR§ 63%Sales 2017 £5.5m*Sales 2014 £1.3mOP 2017 £0.5m*Staff 35Founded 2013Location Surrey

Based in Surrey, Nutriment produces four ranges of frozen dog food, including an organic range, sold on its website and through retailers such as Ocado and farm shops. Its other products include cat food, dog bowls and pet shampoo. Producing over 180 tonnes of raw products a month, it reached sales of £5.5m this year. The company plans to open a third factory in 2018, adding to its existing ones in Surrey and Hampshire.

70 Willow & Hall Furniture manufacturer

Former Deloitte strategy consultant Sarah Massouh, 35, launched this furniture maker from her home in 2012

CAGR§ 55%Sales 2017 £7.5m*

Sales 2014 £2mOP 2017 £0.5m*

Staff 33Founded 2012Location Southwest London

Launched with only 12 designs five years ago, the company now offers 95. It operates a Chiswick showroom and sells to customers around the UK and as far afield as America and Barbados. It sells living room and bedroom furniture, including beds, sofas, and its innovative 'bed in a box' - an Ottoman that folds out into a single bed. Having invested in a significant rebranding, the company grew sales to £7.5m this year.

Former Apprentice contestant Susan Ma set up Tropic Skincare (No 32) in 2011 and convinced Lord Sugar to take a 50% stake




External capital

Forty-four companies have raised external capital from PE/VC firms, business angels, or corporate investors, a record for Fast Track 100. For example, banking automation services provider Cennox (No 42) has been backed by BGF since 2012, which has invested a total of £13m; and steak restaurant Flat Iron (No 23) secured £10m from Piper Private Equity in exchange for a minority stake in March.

Other examples of companies that are backed by external investors are profiled below.

7 Cult BeautyOnline beauty retailer

High-profile angel investors include Net-A-Porter co-founder Carmen Busquets and Lovefilm co-founder William Reeve

CAGR§ 131%Sales 2017 £37.6m*

Sales 2014 £3mOP 2017 £3.7m* Staff 65 Founded 2008Location Central London

This online beauty product retailer sells well-known brands such as Charlotte Tilbury and Sunday Riley, as well as ranges from up-and-coming firms including Huda Beauty and The Ordinary. Co-founders Alexia Inge, 40, and Jessica Deluca, 42, started the business in 2008, with current co-chief executive Murray Salmon, 46, joining in 2011. Sales in 2017 grew to £37.6m, 40% of it generated overseas, helped by growth in markets such as the Middle East.

44 The Office Group Shared workspace provider

Blackstone bought Lloyd Dorfman’s majority stake in June in a deal that valued the business at £500m

CAGR§ 68%Sales 2016 £69.9mSales 2013 £14.8mOP 2016 £11.3mStaff 202 Founded 2003Location Central London

Joint chief executives Charlie Green, 47, and Olly Olsen, 44, co-founded this flexible office provider in 2003. The Office Group offers serviced and virtual offices, co-working rooms and event spaces across central London. It also works with Network Rail to provide office space in iconic railway station buildings. Travelex founder Lloyd Dorfman, 65, paid £43.3m for a majority share in the group in 2010 and has helped expand the business to 36 buildings, growing turnover to £69.9m in 2016. He served as chairman until the Blackstone deal in June.

51 StaircraftHousing materials manufacturer

Sold a 15% stake to Travis Perkins in 2015

CAGR§ 63%Sales 2016 £26.3mSales 2013 £6.1mOP 2016 £2mStaff 196 Founded 1985Location Warwickshire

Staircraft designs and manufactures timber building products, such as staircases, joist floors and door linings, at its nine UK facilities. Managing director, Andy Hamilton, 52, founded the company in 1985 with a £5,000 loan from his father after leaving school without any qualifications. Sales to customers including the UK’s biggest housebuilders reached £26.3m in 2016. The company says it is now the biggest staircase manufacturer in Europe, with 1,000 new houses built each week using its products.

Flat Iron (No 23) secured £10m from Piper Private Equity in exchange for a minority stake in March




Ecommerce More than a quarter of companies (29) sell goods or services online, with 13 launching international websites to trade overseas.

Examples include sports nutrition brand BULK POWDERS (No 34), whose ecommerce platform is translated into 13 European languages; and online bathroom retailer Victorian Plumbing (No 36), which has more than 1m registered customers for its website.

16 SkinnydipFashion accessories retailer

Its fast fashion website attracts more than a million visitors a month

CAGR§ 104%Sales 2016 £12.8m*Sales 2013 £1.5mOP 2016 £1.7m*

Staff 65 Founded 2011Location Northwest London

Brothers James and Richard Gold, 31 and 29, and their friend Lewis Blitz, 30, founded this brand in 2011, which creates glitzy designs for phone cases, headphones and handbags. Its accessories are aimed at 18 to 25-year-olds and the company has several celebrity fans, including the singer Miley Cyrus. It has opened new stores in Sheffield, Plymouth, and New York, and also sells through 200 concessions in retailers such as Topshop.

52 EasirentCar rental provider

Its website accounts for 40% of all its car hire bookings

CAGR§ 62%Sales 2016 £20mSales 2013 £4.7mOP 2016 £1.4m Staff 185 Founded 2009Location Liverpool

This Liverpool-based group offers car hire from 31 locations around the UK and Ireland. Its branches are based near airports but not inside them, which saves costs and enables it to compete with larger rivals. Founded by father-and-son team Nick, 67, and Paul Hanley, 38, the group increased sales to £20m in 2016. This year, it launched its first two sites in the US, both at Florida airports.

67 GrenadeSports nutrition developer

Says its website has received a visit from every country in the world in the last 12 months

CAGR§ 57%Sales 2016 £18m*Sales 2013 £4.6mOP 2016 £4.7m*Staff 27 Founded 2009Location Solihull

This company’s sports nutrition products, which include high protein snacks, are used by professional athletes as well as fitness enthusiasts. Husband-and-wife team Alan and Juliet Barratt, 41 and 43, started the Solihull business in 2009 and it now sells supplements in more than 80 countries. Sales more than doubled to £18m last year, and in March, private equity firm Lion Capital acquired the business from previous owner Grovepoint Capital in a £72m deal.

The co-founders of Skinnydip (No 16), whose fast fashion website attracts more than a million visitors a month




International activity

More than half the companies (58) have expanded overseas to boost revenue growth, up from 52 last year.

Examples include naughtone (No 39), whose furniture can be found in the offices of Google, Facebook, Amazon and Nike around the globe; and World First (No 98), which processed more than £10bn of currency transactions worldwide last year.

1 AerFinAircraft and spares services

Exports to 60 countries accounted for more than 85% of turnover last year

CAGR§ 231%Sales 2016 £60.9mSales 2013 £1.7mOP 2016 £3.2m Staff 73 Founded 2010Location Caerphilly

Aerfin buys used aircraft frames and components, which it recycles and then sells or leases to customers including Lufthansa and British Airways. It was founded in 2010 by industry veteran Bob James, 53, who four years later sold an 80% stake to US group CarVal Investors. Since then, AerFin has spent more than £100m buying aircraft, engines and spares worldwide. It predicts further growth in Asia, which is expected to contribute more than half of all new passengers over the next 20 years.

5 Plimsoll ProductionsTV show producer

Its wildlife documentary, Earth Live, was filmed live from six continents and watched in 170 countries

CAGR§ 149%Sales 2017 £14.6mSales 2014 £1mOP 2017 £2.1mStaff 42 Founded 2013Location Bristol

Producing non-scripted TV shows such as Rescue Dog to Super Dog and Life at the Extreme with Davina McCall, this Bristol-based firm claims to be the 9th largest independent filmmaker in the UK. Set up in 2013, it has since worked on more than 40 series, shown online or on TV, for broadcasters worldwide such as the BBC, ITV and Discovery Channel. Sales reached £14.6m in 2017, under co-founders Grant Mansfield, 59, and Christine Owen, 55.

62 BrewDogBrewery

Launched a fifth crowdfunding round in October with a minimum target of £10m to help fund its global expansion

CAGR§ 58%Sales 2016 £71.9mSales 2013 £18.1mOP 2016 £4.4mStaff 650 Founded 2007Location Aberdeenshire

Featuring on the league table for a record sixth year, with sales up 61% to £71.9m in 2016, Scotland’s largest independent brewery was valued at £1bn in April when it sold a 22% stake to American private-equity firm TSG Consumer Partners for £213m. Since James Watt and Martin Dickie, both 35, started the business 10 years ago, it has opened nearly 50 bars as far afield as Brazil and Japan, and it exports craft beer, including its top-selling Punk IPA, to more than 60 countries.

Martin Dickie (left) and James Watt, co-founders of BrewDog (No 62), which exports its craft beer to more than 60 countries.

§ compound annual growth rate between 2012/13 and 2015/16



Manufacturing

There are 33 manufacturers, either direct in the UK (17), or outsourced (6 in the UK, 10 abroad). This compares with 28 last year.

Examples include All Good (No 6), which manufactures snacks from its Gateshead factory; and furniture maker Ocee International (No 93), which has manufacturing facilities at its HQ in Northampton and in Denmark.

37 SouthernsWorkplace furniture supplier

Has factories in Manchester and Macclesfield, and all of its products are manufactured in the UK

CAGR§ 70%Sales 2017 £42.4m*Sales 2014 £8.6mOP 2017 £3.4m*Staff 120 Founded 1986Location Leeds

The NHS, Leeds University and Astra Zeneca are among customers of this Leeds-based firm’s interior design, furniture manufacturing and fittings services. Set up in 1986, chief executive Andrew Kendall-Jones, 53, bought out the company’s founders in 2006. Nine years later he sold a 25% stake for an undisclosed sum to Knaresborough Investments, the private equity firm belonging to Steve Parkin, the founder of former Fast Track 100 logistics firm, Clipper Logistics. The company has since used the funding to help it acquire five businesses including design agency SpaceInvader.

54 GtechAppliance manufacturer

Outsources manufacturing to China for its cordless and lightweight vacuums

CAGR§ 61%Sales 2016 £91.2mSales 2013 £22mOP 2016 £9.6mStaff 120 Founded 2001Location Worcester

Inventor Nick Grey, 49, left the vacuum cleaner maker Vax in 2001 to design his own cordless floor sweeper. Taking on established brands such as Dyson and Hoover, his company aims to develop cleaners that are not just cordless, but also lightweight and easy to use, such as its AirRam vacuum. The Worcester business also makes cordless garden tools and electric bicycles, and says it has sold more than 22m products in 19 countries.

63 Red Arch Automotive component supplier

Produces 70% of all exhausts for new BMW M series cars

CAGR§ 58%Sales 2017 £9.7m*Sales 2014 £2.4mOP 2017 £1m*Staff 64 Founded 2010Location Northamptonshire

From exterior car badges to engine tuning kits and cylinder heads, this Northamptonshire business designs and manufactures specialist parts for customers such as BMW and Aston Martin. Many components involve the use of exotic materials, such as carbon fibre and titanium, and its recent developments include a patented Bluetooth system for opening and closing exhaust valves, to modulate exhaust noise. Managing director and industry veteran Mike Theaker, 51, heads the business.


Red Arch (No 63) says it produces 70% of all exhausts for new BMW M series cars



Acquisitions A quarter of the companies (25) have grown in part due to acquisition. Many of these transactions are bolt-ons of small businesses that help provide quick growth in new markets.

Examples include pet accessories manufacturer Pet Brands (No 38), which acquired Vital Pet Products for £12m and L Batley Pet Products for an undisclosed sum in March; and Send For Help (No 80), which acquired rival Peoplesafe for £8.6m in May.

4 VeezuTaxi hire provider

Expanded into the southwest of England in September when it bought taxi firm V Cars, its seventh acquisition

CAGR§ 157%Sales 2016 £20.3mSales 2013 £1.2mOP 2016 £2.4mStaff 223 Founded 2013Location Newport

Spotting an opportunity for taxi firms outside London to operate more efficiently with better use of technology, Paul Ragan, 50, Nathan Bowles, 41, and chief executive Joel Hope-Bell, 44, set up this business in 2013. The Newport-based group services 25m passengers a year using 3,500 drivers in locations including Cardiff, Birmingham and Leeds. Its sales, which exclude the value of the fares, reached £20.3m in 2016.

19 EnnismoreHospitality developer and operator

Acquired The Gleneagles Hotel in 2015 for a reported £150m


Sharan Pasricha, 37, founded this hospitality group in 2012 when he bought The Hoxton hotel in Shoreditch, east London. Ennismore now runs three further Hoxton-branded hotels, located in central London’s Holborn, in Amsterdam and in Paris. In the next two years, it is opening new sites in New York, Los Angeles, Chicago and London and is also launching budget hotel brand NoCo in 2018 with the aim of disrupting the low-cost accommodation market.

94 PureGymGym operator

Acquired LA Fitness’s 43 gyms in a £74m deal in 2015

CAGR§ 49%Sales 2016 £159.9mSales 2013 £48.3mOP 2016 £15.4mStaff 676 Founded 2008Location Leeds

Most of PureGym’s 189 sites are open 24 hours a day, seven days a week, and all offer low-cost membership and on-site personal trainers, without tying members to fixed-term contracts. Peter Roberts, 72, founded the business in 2008 and sold a majority stake to the American private equity firm CCMP in 2013. Led by chief executive Humphrey Cobbold, 53, sales reached £159.9m last year. In November, PureGym sold a majority stake to US private equity firm Leonard Green & Partners, for a reported £600m valuation.

PureGym (No 94) acquired LA Fitness’s 43 gyms in a £74m deal in 2015

§ compound annual growth rate between 2013/14 and 2016/17



Emerging brandsSome companies are becoming household names, including fashion retailer Missguided (No 61), appliance manufacturer Gtech (No 54), brewer BrewDog (No 62), and gym operator PureGym (No 94), as well as other examples below.

8 Five GuysBurger restaurant chain

Backed by Carphone Warehouse founder Sir Charles Dunstone, has opened 80 sites in four years

CAGR§ 129%Sales 2016 £90.4mSales 2013 £63.3mOP 2017 £1.7mStaff 1,707 Founded 2013Location West London

Five Guys was established in 2013, when Carphone Warehouse founder Sir Charles Dunstone, 53, was inspired by the popularity of Five Guys in America, and created this joint venture with the founding Murrell family to bring its handmade burgers and crispy bacon milkshakes to the UK high street. Led by chief executive John Eckbert, 50, the London-based business opened 19 stores in the UK last year and expanded into France and Spain, helping sales hit £90.4m.

12 GymsharkOnline activewear retailer

Has over 3m social media followers in more than 150 countries

CAGR§ 112%Sales 2017 £40.7m*Sales 2014 £4.3mOP 2017 £8.8m*Staff 75 Founded 2012Location Worcestershire

Ben Francis, 25, started this fitness clothing brand in 2012 at the age of 20. Since then, its range of vests, hoodies, T-shirts and leggings have gone global. The company has nurtured a style-conscious fan base by sponsoring popular YouTubers, Instagrammers and bloggers that it accompanies to big fitness exhibitions around the world. It exports to more than 150 countries, including the US, where it makes more than 40% of its sales, which reached £40.7m this year. In March next year, it plans to move to new headquarters in Solihull with room to add 450 more employees to its existing team of 75.

71 Leon RestaurantsRestaurant operator

Has 52 healthy fast food outlets across the UK and the Netherlands


Haloumi and falafel wraps, mushroom burgers and Mediterranean salads are on the menu at Leon, the healthy fast food chain founded by Henry Dimbleby, 47 and John Vincent, 46, in 2004. The pair started the business with a single store on London’s Carnaby Street with chef Allegra McEvedy, 47, who left the business in 2009. Backed by Active Private Equity, it has grown to 52 sites across the UK and three in the Netherlands, boosting sales, which represent revenue from all stores including franchises, to £58.4m in 2016. In May, Swiss private equity firm Spice became the largest shareholder in a £25m deal.

Leon Restaurants (No 71) has 52 healthy fast food outlets across the UK and the Netherlands




2017 FAST TRACK 100 LEAGUE TABLE


Rank 2017

Rank 2016

CompanyActivity

HQ location

Year end

Annual sales

growth over 3 yrs§

Latest sales £000

Staff

Founded

Comment

1 6 AerFin Aircraft and spares services Caerphilly Dec 16 231.26% 60,881 90 2010 Has secured a seven-year contract to provide

components support for 20 British Airways jets

2 P2 ConsultingManagement consultancy Central London Dec 16 198.49% *8,937 26 2013 Helps blue-chip companies tackle complex

challenges such as planning for Brexit

3 TFS HealthcareHealthcare recruitment consultancy Central London Mar 17 175.16% *32,472 80 2010 Employs Romanian, Spanish and Portuguese-

speaking staff to help it recruit from the EU

4 Veezu Taxi hire provider Newport Dec 16 157.03% 20,295 223 2013 Serves 25m passengers a year through its

3,500 drivers

5 Plimsoll Productions Television show producer Bristol Aug 17 148.65% *14,636 42 2013 Its wildlife documentary Earth Live was

broadcast live in more than 170 countries

6 All GoodSnack manufacturer Gateshead Dec 16 146.50% 18,023 137 2012 Manufactures chocolate-covered tortilla chips

for Marks & Spencer

7 Cult Beauty Online beauty retailer Central London May 17 131.35% *37,641 65 2008 High-profile investors include Net-a-Porter’s

co-founder Carmen Busquets

8 Five Guys Burger restaurant chain West London Dec 16 129.29% 90,426 1707 2013 Backed by the founder of Carphone

Warehouse, Sir Charles Dunstone

9 5 CarFinance247 Vehicle finance provider Manchester Jun 17 120.84% *38,559 418 2006 Says over £30m of loans are completed every

month via its website

10 2 Loveholidays Online travel agency Central London Oct 16 120.33% 23,220 223 2012 Now the seventh-largest ATOL holder in the

UK, after being founded just five years ago

11 Hackwood Homes Property and land developer Basingtstoke Oct 16 115.44% *24,010 91 2006 Founders apprenticed at the same builder at

the same time but did not meet until years

12 1 Gymshark Online sportswear retailer Worcestershire Jul 17 112.30% *40,718 75 2012 Has over 3m social media followers in more

than 150 countries

13 Eccleston HomesHousebuilder Warrington Oct 16 110.64% 11,735 18 2011 Has built more than 100 homes in

northwest England

14 Radford Group Construction contractor Suffolk May 17 108.91% *31,017 84 2011 Galliard Homes, Kier Group and Higgins

Construction are among its customers

15 9 GreenTech Distribution Mobile phone recycler and distributor High Wycombe Feb 17 104.95% *160,168 28 2010 Supplies mobile devices to customers including

Microsoft, Apple and Carphone Warehouse

16 43 Skinnydip Fashion accessories retailer

Northwest London Dec 16 104.03% *12,800 65 2011 Its fast fashion website attracts more than 1m

visitors a month

17 Corley + WoolleyFit-out contractor Central London Dec 16 102.30% 18,041 21 2012 Says it redecorated Harrods’ London

restaurant in just four weeks

18 Wed2b Wedding dress retailer Milton Keynes Jul 17 100.22% *15,066 348 2009 Its wedding dresses start at just £99

19 10 Ennismore Hospitality developer and operator Central London Dec 16 99.08% 14,649 89 2012 Opened its first French hotel in Paris in August

20 Pallet-TrackLogistics provider Wolverhampton Jan 17 94.99% 81,092 155 2004 Says it can transport anything that fits on a

pallet, including pianos, trees and fridges

21 4 Heck! FoodGourmet sausage producer North Yorkshire Jul 17 92.48% *17,594 85 2004 Its new £3.5m “Sausage World” factory makes

more than 700 sausages a minute

22 33 4mostCredit risk analytics consultancy Central London Sep 17 92.32% *19,592 142 2011 Co-founder Mark Sisson began his career

selling mainframe computers to banks

23 Flat Iron Steak restaurant Central London Aug 16 90.86% 7,555 157 2012 Owns a North Yorkshire farm with its own herd

of cattle

24 12 Pink BoutiqueOnline fashion retailer

Newcastle upon Tyne Feb 17 86.39% *8,950 57 2012 Ships up to 4,000 parcels a day from its

Newcastle warehouse

25 Bargate HomesHousebuilder Hampshire Sep 16 85.64% 36,412 37 2006 Has used 9m bricks and planted 1,900 trees

since building its first home in 2007




26 Beat Concepts Bespoke uniform supplier Central London Jul 16 83.72% †*7,378 13 2008 Director Matthew Davies-Benjamin is the fifth

generation of the family to work in the clothing

27 Burnley Football ClubFootball club Burnley Jun 17 82.85% *120,000 220 1882 Redeveloped its training ground to attract

more talented players

28 Total ManagementEvents agency Central London Mar 17 82.45% *8,003 35 2006 Produces a travel magazine sent out to 10,000

subscribers worldwide

29 Cussins Housebuilder Northumberland Sep 17 81.47% *24,234 79 2001 Chief executive Jabin Cussins is the

third generation of the family to work in

30 Big CarsCar dealer Essex Jan 17 76.34% 33,908 42 2009 Has sold £50m of cars since 2009 thanks to

social media

31 19 Honest BurgersBurger restaurant operator Central London Jan 17 76.18% 15,631 336 2011 Produces 40,000 burgers a week across its 23

restaurants

32 14 Tropic SkincareSkincare manufacturer Croydon Jun 17 72.37% *12,844 75 2011 At its “beauty kitchen” in Surrey, “chefs” create

natural products sold by 8,000 ambassadors

33 Touch AssociatesEvent communications agency Surrey Dec 16 72.18% 27,724 69 2012 Uses technology and digital content to

encourage audience participation at its events

34 38 BULK POWDERSSports nutrition brand Colchester Dec 16 71.87% 23,151 95 2006 Its whey protein is used by athletes including

the Olympic diver Tom Daley

35 23 Enra Group Specialist loan provider

Borehamwood, Herts Dec 16 71.46% 39,023 79 2009 Its West One Loans subsidiary lent almost £600m

in 2016

36 16 Victorian PlumbingOnline bathroom retailer Merseyside Mar 17 71.44% †*96,773 220 2000 Last year it sponsored Channel 4’s Life in the

Sun series

37 Southerns Workplace furniture supplier Leeds Jun 17 70.44% *42,372 202 1986 Has acquired five businesses since 2015,

including Broadstock Office Furniture

38 97 Pet BrandsPet accessory manufacturer West Yorkshire Jan 17 69.89% *15,900 44 2009 Its festive pet products include Christmas

stockings for cats and dogs

39 naughtoneFurniture designer and manufacturer North Yorkshire May 17 69.82% *15,177 34 2004 Has supplied its modern furniture to Google's

San Francisco offices

40 Cult WinesWine merchant

Southwest London Aug 17 69.52% *34,157 33 2007 Manages £55m of wine investments for 1,700

clients in 69 countries

41 77 Lioncourt Homes Housebuilder Worcester Mar 17 69.18% 56,217 67 2006 Has an internal engineering and design team to

develop brownfield sites

42 92 CennoxBanking automation services Surrey Dec 16 68.29% 43,701 496 2004 Supplies some of the largest global banks with

cash machines

43 60 Opus Professional Services GroupRecruitment consultancy Bristol Dec 16 68.19% 62,183 199 2008 Staff benefits include the complimentary use of

a Tuscan villa

44 49 The Office Group Shared workspace provider Central London Dec 16 67.83% 69,924 202 2003 Its 1.2m sq ft of office space is home to

companies such as Facebook, Santander and

45 Zip WorldAdventure course operator North Wales Dec 16 66.39% 7,162 153 2013 Says it has the fastest zipwire in the world and

the longest in Europe

46 Character.comBranded clothing retailer Swansea Jul 16 66.38% *6,482 24 2009 Its products range from Minecraft pyjamas to

Scooby-Doo backpacks

47 BionicalHealthcare services provider Derby Dec 16 66.14% 30,029 239 2009 Provides services for every stage of a drug's

development — from regulatory approval to

48 15 Wool WarehouseOnline yarn retailer Leamington Spa May 17 65.64% *7,490 41 2012 Sells 20,000 craft products in more than 90

countries

49 28 Northvale ConstructionConstruction contractor

Northwest London Mar 17 65.43% *13,275 25 2008 Won a £21m project, its largest yet, to

transform a grade II listed building in Kingston

50 NutrimentRaw pet food manufacturer Surrey May 17 63.45% *5,527 35 2013 Produces more than 180 tons of raw pet food

each month

Rank 2017

Rank 2016

CompanyActivity

HQ location

Year end

Annual sales

growth over 3 yrs§

Latest sales £000

Staff

Founded

Comment

§ compound annual growth rate between 2013/14 and 2016/17 * supplied by company † annualised figure




51 StaircraftHousing materials manufacturer Warwickshire Dec 16 62.53% 26,320 196 1985 1,000 houses a week are built with Staircraft

products

52 EasirentCar rental provider Liverpool Nov 16 61.82% 20,021 185 2009 Takes 40% of its car hire bookings through its

website

53 11 Globe LocumsHealthcare recruitment consultancy Central London May 17 60.90% *35,249 80 2011 More than 70% of its candidates come from

outside the UK

54 24 Gtech Appliance manufacturer Worcester Nov 16 60.76% 91,236 120 2001 Has sold more than 22m domestic appliances

in 19 countries

55 DittoOnline music distributor Liverpool Apr 17 60.63% *7,569 50 2006 Has helped its clients to achieve 20 top 40 hits

since it was founded in 2006

56 32 New World Trading CompanyPub and restaurant operator Cheshire Mar 17 60.56% 40,145 858 2011 Holds Guinness world record for largest gin

and cider tasting events

57 80 END.Online menswear retailer

Newcastle upon Tyne Mar 17 59.90% *69,800 230 2005 Is planning to open a flagship store in Soho

next year

58 Chi Chi LondonOnline fashion retailer Central London Feb 17 59.57% *13,343 49 2008 Launched its first bridal and children’s ranges

this year

59 macFit-out and construction County Down Dec 16 59.47% 56,553 52 2002 Has carried out more than 1,000 projects in

15 years

60 57 Giggling SquidRestaurant operator Guildford Mar 17 59.39% *18,411 397 2009 Secured its first site in Hove for £1 in 2009

61 67 MissguidedFashion retailer Manchester Mar 17 59.03% *205,825 650 2009 Has launched a website for its new menswear

label, Mennace

62 64 BrewDog Brewery Aberdeenshire Dec 16 58.37% 71,850 650 2007 Features in Fast Track 100 for a record sixth

year and was valued at £1bn in April

63 Red ArchAutomotive component supplier Northamptonshire Jul 17 58.30% *9,651 64 2010 Says it produces 70% of exhausts for BMW’s

M-specification cars

64 3aaaApprentice training provider Derby Jul 16 58.07% 25,505 422 2008 Founders and their children all trained as

apprentices

65 Welland PowerGenerator manufacturer Spalding Mar 17 57.99% 20,101 23 1950 Its generators are sold worldwide through local

importers and wholesalers

66 CopernusFresh fish supplier Hull Jul 16 57.74% 46,727 170 2010 Supplies fresh fish to supermarkets including

Lidl and Morrisons

67 74 GrenadeSports nutrition developer Solihull Dec 16 57.12% *17,997 27 2009 Has sold enough protein bars to go around the

M25 five times

68 76 Home Grown HotelsBoutique hotel operator Hampshire Dec 16 55.00% 17,061 386 2011 Its menu can change daily, depending on what

the “kitchen gardener” suggests

69 69 RFSManagement consultancy Swindon Dec 16 55.00% 44,810 54 2005 Its new office has a breakout area designed like

an Alpine ski lodge

70 Willow & HallFurniture manufacturer

Southwest London Sep 17 54.73% *7,507 33 2012 Launched with only 12 designs five years ago

and now offers 95

71 Leon RestaurantsRestaurant operator Central London Dec 16 54.62% 58,400 682 2004 Has 52 healthy fast food outlets across the UK

and Holland

72 Around NoonFood-to-go manufacturer County Down Dec 16 54.15% 14,351 236 1989 Makes almost 25m lunches a year

73 VanaramaVan leasing broker

Hemel Hempstead Dec 16 54.12% 39,131 151 2007 Its catchy adverts are broadcast on Sky Sports,

BT Sport and Dave

74 X4 GroupRecruitment consultancy Central London Sep 16 53.98% 18,255 71 2008 Provides staff to companies such as Ford,

GlaxoSmithKline and Novartis

75 Story HomesHousebuilder Carlisle Mar 17 53.69% 173,841 354 1987 Has begun offering prospective buyers virtual

reality tours of homes

Rank 2017

Rank 2016

CompanyActivity

HQ location

Year end

Annual sales

growth over 3 yrs§

Latest sales £000

Staff

Founded

Comment





76 MCS GroupConstruction contractor Warwickshire Dec 16 53.16% 82,899 44 2003 Has carried out new builds for Porsche, Costa

Coffee and TGI Fridays

77 87 Third BridgeResearch services provider Central London Dec 16 53.10% 49,901 449 2007 Is named after a bridge in Botswana, the last

before you reach uncharted territory

78 Evolution FundingMotor finance intermediary Chesterfield Dec 16 53.08% 60,737 233 2002 Arranged more than 31,000 finance contracts

last year

79 The Good Care Group Care provider Central London Dec 16 52.86% 19,974 804 2009 Claims to reduce falls among people in its

care by 80%

80 47 Send For HelpLone-worker protection provider

Southwest London Mar 17 52.47% 7,900 70 2010 Its personal security devices protect more than

150,000 people working alone

81 41 AlphaSightsBusiness information services Central London Dec 16 52.37% 66,524 320 2008 Thirty-seven languages are spoken across its

eight international offices

82 29 Darwin GroupSecured loans provider Manchester Dec 16 52.17% 12,232 142 2011 Its head of credit risk was “Dr Stats” on Strictly

Come Dancing

83 61 LintbellsPet nutritional supplements maker Hertfordshire Dec 16 52.08% *9,761 53 2006 Works with UK universities to develop its pet

supplements, which are sold in 15 countries

84 Altitude Film EntertainmentFilm producer and distributor Central London Mar 17 51.75% *10,898 17 2012 Distributor of the Oscar-winning films Amy,

Moonlight and 20 Feet from Stardom

85 45 Net World SportsOnline sports goods retailer Wrexham Sep 17 51.61% *18,230 87 2009 Sells 100,000 football goals a year around

the world

86 66 Aptus UtilitiesUtilities connections provider Bolton Mar 17 51.37% 28,181 137 2010 Installed almost 5,000 utilities connections last

year

87 Blackrock Expert Services Dispute resolution consultancy Central London Oct 16 51.33% 25,716 71 2009 Consulted on the construction of London’s tallest

building, the Shard

88 83 WatchfinderPre-owned watch retailer Maidstone Mar 17 50.57% *85,800 180 2002 Has sold £350m-worth of pre-owned

timepieces

89 Net Zero BuildingsLow-energy builder Central London Dec 16 50.54% *7,130 35 2010 Says it has built the UK's largest zero-carbon

building, a school in Bedford

90 39 Professor PuzzlePuzzles and games maker

Southwest London Jun 17 50.20% *8,984 41 2002 A street seller in Calcutta taught the founder how

to make puzzles, inspiring him to start the business

91 Eggfree Cake BoxCake retailer North London Mar 17 49.98% 8,652 48 2009 Is buying a herd of buffalo to secure milk for a

new range of sweets

92 Madigan GillConstruction contractor Central London Sep 16 49.83% 53,309 53 2009 Balfour Beatty, Galliford Try, Wates

Construction and Carillion are among its clients

93 Ocee InternationalFurniture manufacturer Northampton Apr 17 49.07% *33,500 156 1990 Its furniture can be found in offices and universities

across Europe, America, China and Australia

94 25 PureGymGym operator Leeds Dec 16 49.06% 159,937 676 2008 The Olympic cyclist Sir Chris Hoy is an adviser to

the business, which was recently sold for £600m

95 Darke EngineeringPipeline engineer Peterborough Jun 17 48.61% *5,629 42 2010 Combines its annual conference with a staff

trip to Portugal for golf and clay pigeon

96 Signature PubsHotel and restaurant operator Edinburgh Oct 16 48.41% 13,486 329 2003 The switchboard of its Rutland Hotel is voiced

by Alan Dedicoat, announcer of Strictly Come

97 Frank Recruitment GroupIT recruitment consultancy

Newcastle upon Tyne Nov 16 47.46% 126,492 815 2006 Intends to hire 450 new employees by the end

of 2018

98 95 WorldFirstInternational payment provider Central London Dec 16 47.35% *83,634 507 2004 Processed more than £10bn of currency

transactions worldwide last year

99 Atom GroupAlcoholic drinks distributor

Turnbridge Wells Sep 17 46.43% *34,037 188 1996 Customers can design their own spirit-filled

Advent calendar

100 Chartway GroupHousebuilder and contractor Maidstone May 17 46.42% 68,590 117 2009 Provides one-stop construction services to

clients including housing associations

Rank 2017

Rank 2016

CompanyActivity

HQ location

Year end

Annual sales

growth over 3 yrs§

Latest sales £000

Staff

Founded

Comment




Founder Pip Murray of Pip + Nut, which sells its natural nut butters and milks online and in 4,000 stores, including Sainsbury’s

ONES TO WATCH 10

Ones to Watch 10 showcases a selection of companies that do not meet the criteria of the Fast Track 100 league table, but which have achieved strong sales growth, or are forecasting strong growth.

Watch brand Olivia Burton won the 2016 Ones to Watch award, and in July 2017, it was bought by US firm Movado for £60m. Online fashion retailer Chi Chi London was also tipped as a One to Watch last year, and this year it features on the Fast Track 100 league table at No 58.

The Ones to Watch 10 companies have been assessed by Fast Track.

Ones to Watch 10

* supplied by company

CompanyActivity

HQ location Year end

*Sales £000

Staff Founded Short profile

CornerstoneShaving subscription service Central London Dec 16 4,039 15 2014

Launched in 2014 by a 25-year-old serial entrepreneur, this shaving subscription service has raised £8m. Sales rose sixfold to £4m in 2016 and are forecast to double in 2017

Filmore & UnionHealth food restaurant chain West Yorkshire Mar 17 3,989 195 2012

Serves healthy food from 14 North of England eateries. A £3.5m investment from BGF will finance new store openings in the North and Midlands next year

Green Sheep Group Baby products manufacturer

Stratford-upon-Avon Sep 17 5,177 25 2006

Sells its high-end baby products online and in retailers such as John Lewis, and has tripled sales in three years to £5.2m in 2017. It plans to launch new products and grow exports

In The Style Online fashion retailer Salford Mar 17 9,218 80 2013

Set up in 2013 from the founder’s bedroom, this fashion e-tailer’s sales hit £9.2m in 2017. It raised private-equity funding from Livingbridge in April to expand at home and abroad

ISO SpacesModular buildings designer Truro Sep 17 2,500 23 2013

Converts shipping containers into pop-up bars and portable stages for clients such as Tesco and Nissan. Demand for social housing is expected to increase production by 400% in 2018

One Retail GroupConsumer products supplier

Northwest London Dec 16 †5,915 4 2013

Set up in 2013 by a 24-year-old, this firm owns six consumer brands, sold in seven countries. It forecasts £15m sales in 2017, and plans to expand into high-street stores and China

Pip + Nut Nut butter brand Central London Dec 16 3,100 6 2015

Sells natural nut butters and milks online and in 4,000 stores, including Sainsbury’s. Is expanding overseas and launched in 900 supermarkets in the Netherlands in September

Pizza PilgrimsPizzeria operator Central London Jun 17 5,985 200 2012

Inspired by their Italian travels, two brothers set up this pizza business in 2012 and have gone from a market stall to eight restaurants, with sales forecast to hit £9m in 2018

Tile MountainOnline tile retailer Stoke-on-Trent Dec 16 8,800 31 2013

Set up in 2013 by former Topps Tiles executives, this tile e-tailer doubled sales in two years to £8.8m in 2016. It opened a £10m facility in May and this year forecasts £11m sales

WattbikeStatic bike manufacturer Nottingham Sep 17 11,500 46 2000

Its high-tech indoor bike is used by elite athletes such as Jessica Ennis-Hill and the England Rugby team. It exports to 50 countries and recently launched a bike for home gyms

* sales have been supplied by the companies † annualised figure

Credit: Iona Wolff



DISRUPTORS TO WATCH 10In last year’s inaugural Virgin Media Business Disruptor 10, we featured disruptive private companies which had already seized market share in their industries. This year, Fast Track, in partnership with Virgin Media Business, has sought to identify 10 private British companies with the potential to disrupt their industries in the Virgin Media Business Disruptors to Watch 10.

We initially identified more than 200 candidates, and after extensive research we narrowed this down to 14 who were invited to pitch at three workshops held in November. The final 10 were chosen by judges drawn from Virgin Media Business, Fast Track and founders of last year’s Disruptor 10 companies.

This research carries the caveat that it is not possible for such a list to be comprehensive, but we hope it highlights a cross section of potentially disruptive businesses. We welcome nominationsfor next year at www.fasttrack.co.uk.

The Virgin Media Business Disruptors to Watch 10

David Wilco Drew, co-founder of AgriProtein, whose insect-based animal feeds are a sustainable alternative to products such as fishmeal

Company Activity Description of disruptive potential

AgriProteinInsect-based animal feeds

Supported by eight years of R&D, and $18m in funding, its insect-based animal feeds provide a more sustainable and cost-effective alternative to the over-reliance on products such as fishmeal

babylonMobile healthcare app

Aims to make healthcare more accessible through its AI-driven app, which allows users - including NHS patients in London - to check symptoms and consult GPs; raised £47m in April, valuing it at c.$200m

Cambridge Medical RoboticsSurgical robotics developer

Is launching low-cost, portable surgical robots to replace expensive and large machines used by hospitals, and estimates it will make keyhole surgery more accessible to 7m patients a year - it has raised $46m

GrowUp Urban FarmsSustainable agriculture developer

Plans to make food supply chains more sustainable with salad crops grown in water enriched by waste from fish farmed on-site; developed a prototype farm capable of supplying 20,000kg of greens a year

Ieso Digital HealthOnline mental health therapy

Aims to change how therapy for common mental health conditions is delivered; expects to cut treatment times and costs for 20,000 NHS patients in 2017 through its online therapy rooms, and has raised £18m

MonzoMobile banking app

Aims to help 1bn people better manage their finances with its app-only current account, built using its own technology; raised £71m in November, valuing it at £280m, and is planning a £30m crowdfunding campaign

Social ChainSocial media agency

Its digital publishing model is changing how brands engage on social media, by selling advertising across its portfolio of 400 online communities to 386m viewers; the average age of its 105 employees is 22

TRX Television rights marketplace

Its online marketplace for TV rights aims to capture over 20% of a largely offline $5bn market, with distributors such as BBC Worldwide signing up to sell content to over 500 buyers; it has raised £10.8m

what3words Geographic location platform developer

Aims to provide a more accurate alternative to numerical postcodes in industries like logistics by dividing the world into 57 trillion three-metre squares, each assigned a three-word code; has raised £15m

ZegoPay-as-you-go insurance

Its pay-as-you-go insurance for gig economy workers at the likes of Deliveroo, is an alternative to annual cover; has insured drivers for 1.4m hours since August 2016, raising £6m in November to launch overseas



METHODOLOGY

The Fast Track 100 league table ranks the UK's privately-owned companies with the fastest-growing sales over their latest three years of available accounts, i.e. between 2013 and 2016, or 2014 and 2017. The league table identifies the fastest-growing companies in a cross-section of sectors, excluding technology companies, which are covered in our sister league table, The Sunday Times Tech Track 100.

Qualification criteria• UK registered, unquoted, and not subsidiaries• Annualised sales of at least £250,000 in the base year (2013 or 2014)• Annualised sales of at least £5m in the latest year (2016 or 2017)• Year-on-year sales growth in the latest year from 2015 to 2016, or

2016 or 2017, plus forecast (or actual) sales growth• Sales growth was measured by unrounded compound annual growth

rate (CAGR) over the latest three financial years• Operating profit of at least £500k in the latest year (2016 or 2017)• Trading weeks in the base and latest years have to exceed 25• Ten or more employees in the latest year (2016 or 2017)• Recruitment firms are required to have gross profits of at least £5m.

Sales for recruitment firms are the gross amount invoiced to clients• Excluded companies include technology, LLPs, pure property and

financial trading companies, and companies with sales over £500m

Research approachThe research was conducted by the Fast Track research team predominantly between August and November 2017.

The final 100 companies are ranked by growth in sales over their latest three years of available accounts, which were not necessarily required to be audited. Companies were selected from a database of around 2m private companies in the UK followed by extensive desk-based research. Of the 100 companies, 51 had financial years ending in 2016 and 49 had financial years ending in 2017.

Most companies on the league table were interviewed over the telephone and/or visited by the Fast Track research team.

DisclaimersPrivate company information can be incomplete and, while every effort is made to include all qualifying companies, there may be omissions. Nominations for next year’s table would be welcome. Some exceptions were made to the qualification criteria set out above. The compiler’s decision is final and no correspondence will be entered into.



Virgin is a leading international investment group and one of the world's most recognised and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors including mobile telephony, travel & transportation, financial services, leisure & entertainment and health & wellness.

virgin.com @virgin

Sir Richard BransonFounder

Sasha WigginsManaging director, Head of East & South East Corporate Banking

Barclays is a transatlantic consumer and wholesale bank with global reach, offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

barclayscorporate.com @BarclaysCorp barclayswealth.com @Barclayswealth

SPONSORS & MEDIA PARTNER

Fast Track would particularly like to thank Virgin for its title sponsorship for all 21 years of Fast Track 100; Barclays for its sponsorship for a seventh year; BDO for its sponsorship for a fourth year, having previously been a sponsor for two years from 2010 to 2011; BGF for its sponsorship for a fifth year; and Virgin Media Business for its sponsorship for a second year. We would also like to thank our media partner The Sunday Times for their continued support of the Fast Track 100 for all 21 years.

Neither Fast Track, our sponsors or media partner endorse, guarantee or recommend investment in any of the companies; the rankings are based on historical sales growth.

Sponsors



We provide assurance, tax and advisory services helping clients navigate a changing world. We share our clients’ ambitions and their entrepreneurial mind-set; we have the right combination of global reach, integrity, collegiate approach and expertise to help them succeed. For the fourth year running, our clients are most likely to recommend us than those of all the major firms, raising from 86% (2016) to 95% (2017).*

* According to independent research from the Meridian West.

bdo.co.uk @bdoaccountant

BGF is the most active and influential investor in small and mid-sized businesses in the UK and Ireland. An established and independent company, it has £2.5bn to support a range of growing companies in the UK – early stage, growth stage and quoted – across every region and sector of the economy. BGF provides financial firepower to growing businesses with bold forward plans. It has backed close to 20 Sunday Times Fast Track companies since 2011, including in this year’s cohort Cennox, Cussins, Giggling Squid, Ocee International, and The Good Care Group.

bgf.co.uk @BGF_team

Stuart LislePartner, Corporate Tax Services

Stephen WeltonChief executive

Peter KellyManaging director

Virgin Media Business design, build and maintain high-performance networks so enterprise businesses can disrupt old markets, open new ones and grow. High-performance Digital Platforms sit at the core of every successful commercial entity because business models are now disrupted in quarters not decades. Which, we believe, means every enterprise needs to be prepared to disrupt their markets – or adapt quickly when the disruption hits. We help our customers make this a reality.

virginmediabusiness.co.uk @VMB_Enterprise



Iain DeyBusiness editor

Media partner

It is Britain’s 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.

thesundaytimes.co.uk



ABOUT FAST TRACK

Compiler & publisher

Hamish Stevenson owns and runs Fast Track, which he founded in 1997 after securing cornerstone and ongoing sponsorship from Sir Richard Branson. He works closely with our sponsors and our network of leading entrepreneurs and media partner to try to ensure their expectations are exceeded, and that they remain engaged with the alumni network.

He is an associate fellow at Green Templeton College, Oxford University, where he completed his masters and doctorate in management studies and subsequently set up and held the Virgin research fellowship in entrepreneurship. He also has a degree in politics from the University of North Carolina, Chapel Hill.

The authors

Richard Tyler leads Fast Track’s 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.

Ying Chen is responsible for managing the Fast Track 100 research.

Before joining Fast Track in 2005, she worked for the Beijing subsidiary of French consultancy Metizo. She has a masters in HR from Oxford University's Said Business School, and a degree in English from Beijing Foreign Studies University.

Research support was also provided by Fast Track researchers Michael Cook, Malcolm Gilmour, Mike Harding, Kaye Johnson, Laura Kebble, Verity Krall, Yvette Lavelle, Chris Marshall, Dan Robinson, Lindsay Uppadine and freelancers Ashley Cavers, Claire Harrington, Elizabeth Marsh, Rosie Murray-West, Luke Purser, and Francesca Woodhouse.



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 TrackFast Track 100 is compiled by Fast Track, the UK's leading research and face-to-face networking events company, which ranks top performing private companies and entrepreneurs.

Fast Track has compiled league tables on private companies in partnership with The Sunday Times for the last 21 years. It produces six other annual league table and award programmes:

SME Export Track 100 ranks Britain's SMEs with the fastest-growing international sales (total sales less than £25m)

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

International Track 200 ranks Britain's mid-market private companies with the fastest-growing international sales (total sales greater than £25m)

Profit Track 100 ranks Britain’s private companies with the fastest-growing profits

Top Track 250 ranks Britain’s mid-market private growth companies with the biggest sales (next tier down from Top Track 100: £115m to £630m with a min 5% growth in sales or profit)

Top Track 100 ranks Britain’s private companies with the biggest sales (£630m to £18bn)

Fast Track is based in Oxford with 29 staff, and a network of freelance researchers.

research report 2017 - bdo

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