Two from Wales make first Mid-Market 100
Mid-sized businesses based in Wales account for just 2 per cent of the inaugural Investec Mid-Market 100, a ranking of the UK's fastest-growing private companies.
The two businesses which made it into the top 100 were a Port Talbot-based submersible pump supplier and a recruitment agency in Gwent.
Smart Solutions Recruitment has a turnover of almost £42m and was ranked at 25th, with Pump Supplies at 89th with sales of £19m.
The Investec Mid-Market 100 is made up of companies from a range of industries, most notably manufacturing/industrial and food and drink, which together account for almost two-fifths of the 100 companies.
The 100 companies have collectively generated £4.85bn of revenue and £347m of profits in the past financial year. The list, compiled in conjunction with DueDil and set to be updated twice a year, ranks active, UK-registered companies according to their four-year average compound annual growth rate, with a minimum annual turnover of £10m.
London and the South East made up almost two-fifths of the list with 22 and 17 businesses respectively. Wales and the North East had the fewest companies with two each.
Ed Cottrell of Investec said: "The UK mid-market contributes nearly £1trn of revenues annually and up to a quarter of private sector employment, and it is important that its contribution is understood and recognised. Through analysis such as the Investec Mid-Market 100, we hope to develop greater appreciation for this vital part of our economy."