Published this weekend, the 13th annual Sunday Times Grant Thornton Top Track 250 league table ranks Britain’s private mid-market growth companies with the biggest sales.
The 22 companies headquartered in Scotland (compared to 29 last year) have made a strong contribution to the local economy. The companies increased combined sales 15% to £5.7bn and operating profits 27% to £468m, and they employ more than 36,000 people.
The biggest mid-market growth company in Scotland is Glasgow-based City Facilities Management, which supplies air conditioning and refrigeration equipment to major UK retailers such as Asda. Sales have grown 33% to over £617m and operating profits have more than doubled to £15m due to key acquisitions and overseas expansion.
There are 8 entrants in Scotland that were not on the league table last year, including Scottish Leather Group, based in Bridge of Weir, whose leather is used on the seats of more than 160 airlines across the world; and Lasswade-based Dobbies Garden Centres, which was bought from Tesco last year for £217m by investors Midlothian Capital Partners and Hattington Capital.
Edinburgh-based housebuilder Miller Homes achieved the biggest profits in Scotland with £99m, up 31%. The company plans to build 4,000 homes a year by 2021 and in August, private equity house, Bridgepoint, bought a majority stake in the company in a £655m deal.
The companies in Scotland appear with businesses from around the UK, including Aston Martin, Holland & Barrett, Travelodge, Lush and PureGym.
The league table and awards programme is sponsored by Grant Thornton and Lloyds Banking Group, and compiled by Fast Track, the Oxford-based research and networking events company.
Vishal Chopra, Partner at Grant Thornton UK LLP, the title sponsor of the league table, praised the companies for their performance:
“The UK may be at a pivotal point in its history, but the Top Track 250 clearly demonstrates what can be achieved by exciting dynamic businesses. These companies think locally and act globally, they innovate to grow and embrace an entrepreneurial spirit that this country needs to secure a positive post-Brexit future. At Grant Thornton we are seeking to stimulate ideas and actions that can help shape a vibrant UK economy that thrives. We can all learn a lot from the Top Track 250.”
Ordered by county and rank: Mid-market private growth companies in Scotland
| HQ locationCounty | Rank [2016 rank] |
Company Activity |
Sales £m | Profit £m^ | Staff | Year end | Main shareholders |
| Fraserburgh Aberdeenshire |
230 [226] |
Gray & Adams Trailer & vehicle manufacturer |
125 | 8 | 682 | Apr 16 | James Gray Jnr (43%), Peter Gray (43%), Marie Gray (14%) |
| Banffshire | 197 | Walkers Shortbread Shortbread & biscuit maker |
139 | 12 | 1,463 | Dec 15 | Walker family (100%) |
| Glenrothes Fife |
207 [220] |
James Donaldson Group Timber merchant |
137 | 8 | 694 | Mar 17 | Donaldson family (85%), employees (15%) |
| Dunfermline Fife |
222 [246] |
Scott Group Industrial supplier |
*128 | *6 | 997 | Dec 16 | John Scott (76%), Norman Scott (24%) |
| Glasgow Lanarkshire |
Top 3 | City Facilities Management Facilities maintenance provider |
618 | 15 | 11,844 | Dec 16 | Lord William, Lady Susan and Kenny Haughey (99%), other (1%) |
| Glasgow Lanarkshire |
142 [170] |
GAP Group Plant and tool hire |
175 | 20 | 1,566 | Mar 17 | Douglas Anderson (37.5%), Iain Anderson (37.5%), Maureen Smith (20%), other family and management (5%) |
| Glasgow Lanarkshire |
155 | RJ McLeod Building contractor |
166 | 17 | 459 | Nov 16 | Clarke family (48%), management (14%), other (38%) |
| Glasgow Lanarkshire |
216 | Allied Vehicles Adapted vehicle distributor |
*131 | *7 | 615 | Apr 17 | Facenna family (98%), other (2%) |
| Edinburgh Midlothian |
10 [15] |
CALA Group Housebuilder |
587 | 84 | 810 | Jun 16 | Legal & General & Patron Haut LP (93%), management (7%) |
| Edinburgh Midlothian |
17 [13] |
Miller Homes Housebuilder |
565 | 99 | 740 | Dec 16 | Bridgepoint (55%), Shackleton Capital Partners (22%), Lloyds Banking Group (9%), others (14%) |
| Edinburgh Midlothian |
157 [187] |
Edinburgh Airport Airport operator |
164 | 62 | 602 | Dec 16 | Global Infrastructure Partners (>50%), management (<50%) |
| Lasswade Midlothian |
174 | Dobbies Garden Centres Garden centre operator |
154 | 10 | 2,766 | Mar 16 | Midlothian Capital Partners & Hattington Capital (>50%), management (<50%) |
| Fochabers Moray Firth |
65 [93] |
Baxters Food producer |
†294 | †18 | 1,539 | Apr 16 | Audrey Baxter (38%), Andrew Baxter (25%), Baxter family trust (18%), Catherine Baxter (18%), James Baxter (1%) |
| Airdrie North Lanarkshire |
94 [106] |
T.O.M. Vehicle Rental Commercial vehicle hire |
*235 | *16 | 574 | Mar 17 | Equistone Partners Europe (>50%), Rafferty family and management (<50%) |
| Bellshill North Lanarkshire |
172 [209] |
Advance Construction Group Construction services provider |
155 | 8 | 1,134 | Mar 16 | Seamus Shields (50%), Daniella Shields (50%) |
| Bridge of Weir Renfrewshire |
220 | Scottish Leather Group Leather manufacturer |
129 | 8 | 599 | Mar 16 | Muirhead & Lang families (95%), employees (5%) |
| Selkirk Scottish Borders |
169 [244] |
Spark Energy Energy supplier |
*158 | *7 | 400 | Jun 17 | Limerston Capital (>50%), management (<50%) |
| East Kilbride South Lanarkshire |
139 | Ethigen Pharmaceuticals supplier |
177 | 4 | 261 | May 16 | Andrea Kelly (50%), Nigel Kelly (50%) |
| Stirling Stirlingshire |
14 [21] |
Robertson Construction services provider |
*579 | *25 | 1,943 | Mar 17 | Robertson family (100%) |
| Stirling Stirlingshire |
203 [239] |
Castle View Leisure services manager |
137 | 10 | 4,746 | Mar 16 | Martin Bell (95%), Caroline Bell (5%) |
| Broxburn West Lothian |
20 | Eastern Western Motor Group Car dealer |
550 | 12 | 1,129 | Dec 16 | Douglas Brown (100%) |
| Bo’ness West Lothian |
156 [181] |
James Walker Timber merchant |
*165 | *14 | 640 | Mar 17 | Walker family (70%), John Campbell (24%), employees (6%) |
^ Profit = operating profit * Supplied by the company † Annualised figure
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