~rising stars~ 4. Pathology Group
Turnover: £27.9m (+94%) Pre-tax profits: £1.8m (+88%) Sector: Recruitment Based: London This venture cites itself as the only specialist recruitment consultancy in the world that operates in the pathology space. An extensive pathologist candidate database and the support of leading NHS consultants affords the group the means to supply the NHS with a steady stream of only the highest calibre of pathologists. CEO Louie Evans says, ‘In the four years we’ve been around we’ve made big steps in terms of developing the company, as a different skill set is required as you grow from a small company into a medium-sized one. It starts with having a good product and being passionate about what you do, getting good people on board and seizing opportunities and gaps in the market.’
5. Alliance Pharma
Turnover: £49.9m (+60%) Pre-tax profits: £16.4m (+90%) Sector: Pharmaceuticals Based: Wiltshire Acquisitions have driven growth at this pharmaceuticals company. CEO John Dawson claims that the purchase of Cambridge Laboratories in 2010 had a ‘big impact’, adding 18 new prescription products to the company’s portfolio. The business’s expertise lies in its dermatology and urology and oncology products, which Dawson explains form the ‘bedrock’. Of the pharmaceuticals industry, he says, ‘It’s not as affected by general economic factors as other sectors and there’s a fair amount of innovation, so it’s buoyant.’ Alliance intends to remain on the acquisition path, adds Dawson.
6. Fine+Rare
Fastest-growing sectors Sales
IT Health Profits
+40% +98% +35% +55%
Advertising/marketing +37% +46% Consumer/Retail
+67% +140%
Turnover: £52.8m (+89%) Pre-tax profits: £3.3m (+200%) Sector: Retail Based: London As the co-founder of an international wine trading business, you would think that life would be non-stop long lunches. Not so, says Fine+Rare chief executive Mark Bedini – he’s too busy winning new business. Fine+Rare offers products from all over the world to its large client base, which is chiefly from the UK and Europe. But it is growing in the Far East where it boasts an office in Hong Kong. The business is currently seeking to attract some ‘heavyweight’ investors to continue development of its online trading platform. Bedini credits the surge in revenue and profit last year to the ‘emergence of China as a major player’. He adds, ‘We were also coming out of the credit crunch, so on the back of the China surge there was a return to confidence in the UK and other traditional markets.’ Bedini and buyer Bud Cuchet founded the company in 1994. (See page 14).
8. IQE 7. K3
Turnover: £43.8m (+20%) Pre-tax profits: £4.6m (+45%) Sector: Software Based: Manchester Chief executive Andy Makeham has presided over a transformational year at K3. Following an intensive period of building its internal infrastructure, which involved some careful management team integration, the Manchester-headquartered business is fuelling growth by targeting acquisitions that will deliver more customers. It has the funds to do so – its surprisingly helpful bank recently matched a placing pound-for-pound to give the company a handsome war chest. ‘In the past six months we’ve been offered almost an acquisition a day,’ says Makeham. (See page 51).
32 business xl
Turnover: £72.7m (+38%) Pre-tax profits: £6.3m (+200%) Sector: Semiconductors/Technology Based: Cardiff The rapid adoption of smartphones has seen semiconductor business IQE achieve rapid growth during the past year. In 2009 it had to endure de-stocking in the supply chain. But 2010 saw new markets open up as 3G smartphones became widespread – IQE currently supplies chips for devices from the iPhone to a raft of Android products. Chief executive officer Andrew Nelson says that the versatility of semiconductors has meant that IQE has been able to ride the waves of various technological surges, with its products capable of being applied in a number of different ways. With further growth now coming from tablet computers, Nelson says growth for the next year looks assured.
9. Nexus
Turnover: £32.9m (+71%) Pre-tax profits: £4.2m (+102%) Sector: Transport Based: Leeds Neil McCrossan is steeped in the transport sector. Over three decades he’s done it all, from being a driver at Swan National to vice- president of sales and marketing at National Car Rental. He always wanted to run his own business, though, and achieved this goal in 2008 via the management buy-out/buy-in of short-term vehicle rental company Nexus. Since the £11 million deal (backed by private equity firm Isis), McCrossan has made two successful bolt-on acquisitions and continued to grow sales. The acquisition of FMG Support transformed the scale of Nexus and it ‘burst through the glass ceiling’, hoisting profits from £1.2 million to £2 million. One of its most recent claims to fame was supplying two caged tipper trucks for an episode of the BBC series The Apprentice.
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