Three North East businesses are toasting success after making the list of the UK’s fastest growing founder-led private companies.
The FEBE Growth 100 list for 2023 has been published, including growing tech firm, tights manufacturers, morph suit makers, digital marketing enterprises and premium vodka makers. From the North East the list includes Opencast Software in Newcastle, former North East company of the year Cleveland Containers, based in Stockton, and hair extension retailers Additional Lengths, also based in Stockton.
The Growth 100 highlights founders that are driving their companies to deliver significant sales, revenue and profit, against a backdrop of unprecedented economic challenges, shining a light on entrepreneurial success across the UK, with women founders or co-founders making up a third of the companies making the cut. To be on the list businesses must be UK registered, independent and unquoted, have sales between £3m and £200m, been trading for at least three years and have posted an operating profit in the latest financial year. The founders must also still be involved.
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The resulting top 100 are ordered by compound annual growth rate (CAGR) in sales over the last three financial years. Businesses were initially selected by either nominating themselves or through FEBE contacting them directly, as well as by accessing publicly available financial information. Growth 100’s partners are PwC UK, Lawrence Stephens and Pictet.
The founders of Hoults Yard based Opencast Software, which recently expanded into new offices at the Byker business hub, were delighted to make the list at number 27.
Opencast co-founder and executive chair Charlie Hoult said: “What a year it has been for Opencast accolades - and this latest from FEBE feels special. To be named in the top 30 of this list – and also the highest placed of three North East businesses on the list – is further recognition of the success of the Opencast business.”
Co-founder Mike O’Brien said. “It took a combined entrepreneurial effort from Charlie and I to get Opencast up and running - and today the company has a £35m+ turnover and close to 500 people on our team. We could not be more proud of the team driving us forward to greater success.”
Cleveland Containers made the list at number 52. Andrew Thompson, chief executive officer, said: “Our incredible growth is a testament to our hard-working and ambitious teams. With the support of LDC following their investment last year, we have successfully expanded by launching our new ‘Hire’ and ‘Modular’ divisions, helping us further support our growing customer base. We are continuously improving and increasing our services and have many exciting projects in the pipeline.”
FEBE founder Charlotte Quince said: “We’re so excited to publish this year’s Growth 100. So many people think that business founders just ‘get lucky’ or think of an idea one day and are successful the next. But we know that the journey to success is anything but smooth. The Growth 100 celebrates those who have embraced the entrepreneurial roller coaster and who are now thriving as some of the fastest growing brands in the country.”
Former Dragon’s Den Dragon and FEBE Growth 100 ambassador, Jenny Campbell, added: “I’m very proud to be part of something that celebrates and supports the very best British entrepreneurs and their companies. FEBE Growth 100 focuses on true entrepreneurialism. Founders are unique: their experiences, their vision and their resilience are unlike anything else. So, we want to celebrate these ‘dare to doers’ and shine a light on the incredible accomplishments of some of the finest and fastest-growing companies in the country.”
