Solent 250 grows to £16 billion grouping
The Solent 250 – the £16b listing of private companies headquartered in the region – is an index of success, with a significant number of businesses showing growth in the past year
Together employing 84,500 people, the 250 top unquoted businesses sit in pole position in the Solent region – as the cream of the circa 50,000 private companies across the area.
Listing companies by turnover – from more than £3b at the top to £12 million at number 250 – the grouping includes success stories such as construction company Brymor, up to £57m from £42.8m last year; and retirement apartment builder Churchill Retirement, up to £90m from £61m.
Other fast-rising companies include recruitment solutions specialist Serocor – up to £120m from£109.4m; and property maintenance company CLC Group, up to £101.4m from £77.7m.
Brought into the list for the first time is LV – the Liverpool Victoria General Insurance Group. With sales of some £3.4b, LV is the UK’s largest friendly society. While founded in Liverpool in 1843, the company moved to Bournemouth in 1996.
Chief executive Mike Rogers said in his last annual report that LV now employed 6,000 people across the UK. The Group had total income of £3.4b in 2014, as against £2.7b the previous year.
Second on the list is Arqiva, the Winchester- headquartered communications specialist, which appointed Mike Parton as chairman this year. With sales of £860m – up from £826m the previous year, Arqiva is helping build an Internet of Things as a leading provider of machine-to-machine connectivity services.
Fitness First is third in the list with a turnover of more than £500m. The first Fitness First club was opened in Bournemouth in 1993 and the company now has gyms in 16 countries.
Chief executive Andy Coslett has headed a turnaround at the company since hedge funds bought Fitness First from BC Partners in 2012.
Fourth on the list is McCarthy & Stone, which is moving from private to public, and plans to list later this year. The company was listed for 22 years before being taken private by Sir Tom Hunter in 2006, and with 70% of the UK market for retirement homes, it is said to be aiming for a valuation of £1b.
The company said it wants to use the cash as part of its plans to invest £2.5b to buy land and build new homes over the next four years. It says the retirement home market is under-supplied and aims to build 3,000 homes a year.
At number five, the private health insurer Simplyhealth Group sold its private medical insurance (PMI) business to AXA PPP. Chief executive Romana Abdin says it is part of a strategic review with Simplyhealth focusing on ‘everyday healthcare’ where the group sees “numerous growth opportunities”.
RULES OF ENGAGEMENT
• Solent 250 companies must be private, independent businesses
• Listed companies (either LSE or foreign markets) are excluded
• Companies must be trading in the Solent region, with their main headquarters located in the region
• Companies that list their registered office in the region, but don’t trade from that address, are excluded
• Companies that are foreign- owned are excluded
• Businesses in last year’s 250 were asked to submit their latest results; some of these are included as they are more current than our other sources
• Otherwise, Companies House records are used, provided by FAME and Experian
• In some cases, last year’s turnover has been subsequently updated
• The Solent region is defined as most of Hampshire (south of Basingstoke) and parts of Dorset, Wiltshire and West Sussex.
Sponsored by HSBC, law firm Blake Morgan, and business adviser Grant Thornton, the Solent 250 is a campaign run by The Business Magazine.
The Solent 250 excludes some companies featured last year as further research has revealed foreign ownership, public placement of shares, or that the company is a subsidiary of a group headquartered elsewhere.
New names on the list this year include LV, Hall & Woodhouse, Beal and Blake Morgan.
For further details about the Solent 250, contact events manager Linda Morse
Details:
linda@elcot.co.uk
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – NOVEMBER 2015
www.businessmag.co.uk
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