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The Northamptonshire Growth Report May 2019

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The Northamptonshire Growth Report May 2019 THE NORTHAMPTONSHIRE GROWTH REPORT MAY 2019 2019 EDITION A CLOSER LOOK TRACKING THE GROWTH OF THE LEADING PERFORMERS IN THE COUNTY A new economy 2 THE NORTHAMPTONSHIRE GROWTH REPORT | BDO LLP CONTENTS WELCOME 3 ANALYSING THE COUNTY’S TOP 50 GROWTH STARS 4 THE SOUTH EAST MIDLANDS LOCAL ENTERPRISE PARTNERSHIPS VIEW 9 A UNIVERSITY WITH BUSINESS IN MIND 10 GROWTH GOES UP A GEAR AT MCE INSURANCE 11 IN ONE OF THE SHIRE’S MOST WELL-HEELED BUSINESSES 12 WHERE EVEN THE SKY ISN’T A LIMIT 13 NENE’S RACKS TO RICHES STORY 14 MATRIX’S MYSTERY GROWTH INGREDIENT 15 FREIGHTROUTE’S BREXIT BONUS 16 HAVE WE GOT WHAT CYGNIA NEEDS? 18 ALL SMILES AT RODERICKS DENTAL 20 THE TOP 50 LIST 21 YOUR BDO NORTHAMPTONSHIRE CONTACTS 23 A MEASURE OF GROWTH How vibrant is This inaugural Northamptonshire Growth Report aims to better understand these companies by analysing the performance of the 50 businesses that have posted the highest Northamptonshire’s business average growth over the last three years. community? One way to What follows is a snapshot of Northamptonshire’s business growth heroes, along with find out is to look at the commentary from key public and private sector figures who play an important role in companies that are growing supporting the corporate community. TOP 50 COMPANIES BY SECTOR the fastest: those that are Professional services 2% already influencing the Tech & media 2% Primary activities & utilities 4% Manufacturing & industrial markets 38% business scene and bringing Healthcare 4% riches and employment to Financial services 4% the shire. Real estate &construction 12% 50 op t o w e v50e r v i Retail 14% Support services & transport 20% ACKNOWLEDGEMENTS BDO would like to thank the Northamptonshire private and public sector leaders who generously gave their time to provide views and comments used in the production of this report. BDO LLP | THE NORTHAMPTONSHIRE GROWTH REPORT 3 A WORD FROM CHRIS BOND PARTNER Uncertainty isn’t something most business leaders relish. But thanks to Brexit, it’s been a fairly constant feature of corporate life in 2018 and 2019. And in Northamptonshire we have an extra helping. After the County Council’s well publicised financial problems in 2018, we have been waiting to see what kind of local authority support, if any, would be available to the business community. Plans to create two new unitary authorities have been revealed, but we still lack clarity on the details. In an ‘up-in-the-air’ situation like this, there could be a temptation to ignore the bigger picture and focus on taking care of business. Focusing on the task in hand is never a bad thing, but at the same time it might not be prudent to lose sight of wider issues. Elsewhere across the country, regional business communities are shaping up for what will likely be a tougher commercial environment outside the European Union. Being part of a recognised centre of excellence could help a lot. Northamptonshire businesses know this. For many years, the region was famous for its footwear. Now its motorsports expertise is turning heads. But such reputations can vanish quickly if they are not nurtured. And right now, with local government support in limbo, who will bang the drum for the shire? Significant help will no doubt come from the Local Enterprise Partnership. But bear in mind that this organisation also has the job of cheerleading a wide geographical area not just Northamptonshire. And while other regions can often rely on university- based innovation centres to power excellence in particular industries, in Northamptonshire our university is still in a sense finding its feet after gaining its current status in 2005. All this makes it more imperative for Northamptonshire business leaders to think about how they can work with each other to create a sense of what makes our area special. The companies listed in this report, which need to attract customers and staff in support of rapid growth, have the most to gain. CHRIS BOND Partner BDO 4 THE NORTHAMPTONSHIRE GROWTH REPORT | BDO LLP TOP 50 ANALYSIS BUSINESSES ON THE MOVE TOTAL TURNOVER GROWTH ACROSS THE TOP 50 50 Northamptonshire’s op t business community o w 2,500 v50i e has motion in the blood. e r v In the past, that motion was mostly on foot: 2,000 2,104 shoemakers dominated 1,875 the local industry. Even today, the iconic footwear 1,500 1,665 brand Dr Martens still has its base in Wollaston. But 1,000 elsewhere, the motion has £000,000 Turnover moved up a gear. 500 The county’s fastest-growing company, J.A.P.S Holdings, owns the Motorvogue brand of car dealerships. At number two, RML Group makes motor racing cars as 0 part of the Motorsport Valley industry Year 2 Year 1 Last available year community. The third-fastest growing business, Sloane Helicopters, is an It’s clearly something that works well in For example, family-owned Virani Food aerospace manufacturer. the county. The top five companies in our Products has managed to grow by an No fewer than 11 out of the top 50 fastest- report, which also include a homebuilder average of almost 21% over the last three growing companies in Northamptonshire and a warehousing business, all have three- years by adding a bit of spice to life. The deal with vehicles, either making them, year growth rates of more than 40%. company is the largest miller of gram flour in Europe and also provides herbs and selling them or having a focus on logistics Elsewhere across the top 50, there is an spices for producers of readymade meals, to move things around. One other business, average three-year growth rate of around sauces and snacks. Barton Petroleum, supplies fuel. 16% which sits well in comparison to other And in a nod to Northamptonshire’s areas in the East Midlands. Virani is one of a number of food-related companies on the list, with others including shoemaking past, two companies in the Business services providers such as MCE grain specialist Charles Jackson & Co, top 50 are dedicated to footwear. It’s Insurance or construction firms such as fruit salad maker Blue Skies Holdings and safe to say that few other places in the Jeakins Weir could be expected in any catering industry supplier Central Foods. UK could boast such a high proportion of random selection of UK companies, but Elsewhere, the list also features a dental fast-growing businesses that are based on Northamptonshire also boasts fast-growing practice and an agricultural group. getting from A to B. businesses dedicated to somewhat more exotic pursuits. Overall, the companies in the top 50 delivered revenues of £2.1bn in the last 12 months under review, up from almost £1.9bn the year before and close to £1.7bn two years previous. BDO LLP | THE NORTHAMPTONSHIRE GROWTH REPORT 5 WHO’S TOP OF THE CHARTS? The five fastest- J.A.P.S HOLDINGS LIMITED RML GROUP LIMITED LOCATION LOCATION growing companies Northampton Wellingborough in Northamptonshire SECTOR SECTOR generated turnover of Retail Manufacturing & industrial markets GROWTH GROWTH almost £183m between 58% 51% them in the last year under J.A.P.S Holdings is better known locally RML Group is a leading high-performance review and averaged a as Motorvogue, the multi-franchise auto engineering company delivering world-class three-year growth rate retailer that entrepreneurs Jon Pochin and motorsport and automotive components. Peter Norman bought in 2008. From a The company is also looking to position of just over 48%. These are single site back then, the duo has expanded itself for success in the growing electric the business into Bedfordshire and Norfolk, the county’s undisputed vehicle sector, delivering technology piling on revenues in the process. growth stars. for road and race applications built at a As well as extending the business state-of-the-art energy storage design and geographically, the directors have looked to manufacturing facility. expand the portfolio of automotive brands they sell under one roof. In Northampton,the company holds Abarth, Alfa Romeo, Fiat and Seat franchises. Other locations also work with Citroen, Dacia, Hyundai, Jeep and Renault. SLOANE HELICOPTERS LIMITED BARWOOD HOMES HOLDINGS LIMITED PANTHER WAREHOUSING LIMITED LOCATION LOCATION LOCATION Northampton Northampton Northampton SECTOR SECTOR SECTOR Manufacturing & industrial markets Real estate & construction Support services & transport GROWTH GROWTH GROWTH 46% 46% 41% Founded more than 48 years ago, Sloane Since its founding in 2010, quality Panther Warehousing is one of the UK’s Helicopters claims to be the most housebuilder Barwood homes has built leading premium two-man white-glove accomplished onshore helicopter company a solid portfolio now comprising 14 home delivery companies, claiming best-in- in Europe and remains within the same residential developments spread across class service for a rapidly growing number private ownership of its founder and central England. of online and multi-channel retailers and chairman, David George. manufacturers. The company has three developments Located at Sywell Aerodrome and with in Warwickshire and two each in Headquartered in Northampton, Panther bases at Northolt and Enniskillen, Sloane Buckinghamshire, Leicestershire, provides services including next-day and is an authorised distributor for Leonardo Northamptonshire and Oxfordshire. This nominated day delivery seven days a week, Helicopters and the Robinson Helicopter year it aims to add new developments which has helped the business remain at Company. Along with helicopter sales, in Leicestershire, Lutterworth and the forefront of the industry. The business the
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