North West’s top buyout businesses revealed
NINE companies from across the region, with combined profits of close to £100m, have made an annual ranking of the country’s 100 top private-equity backed firms.
The top North West companies in the Sunday Times Deloitte Buyout Track 100 employ 14,000 people between them and have seen their profits grow by an average of 67% over the last two years to a combined total of £94m.
Payroll services provider Parasol tops the list for North West companies, coming in at number 14 in the national ranking. The Warrington company, saw annual profits grow more than 87% over the last two years to almost £3.6m in the year to April 2009.
Managing director Rob Crossland has a 25% stake in the company, with 65% owned by Inflexion Private Equity.
Mr Crossland said: “The rebranding of our core business and the acquisition have been very well received, and we’ve very much kept our focus on service.”
He added: “It’s especially pleasing to be ranked top in the North West, particularly as we’ve been busy delivering tailored projects to help mitigate risks for agencies and clients in the region.
“Looking to the future, our industry as a whole is facing huge challenges in the shape of the Agency Workers Directive (AWD), but we’re planning to build on our strengths and focus on promoting the professionalism of our sector through the Service Providers Association (SPA) – we’re very much here for the long term.”
Ranking 17th nationally is Oldham-based homewares importer Ultimate Products, which employs 190 staff and saw profits hit £5.2m last year. The company is 46% owned by LDC with the remainder owned by management including the charismatic chief executive Simon Showman.
Mr Showman said: “A number of tactical moves over the last two years, including our rapid growth in Hong Kong and China to grow relationships with major international retailers, are helping us to buck the trend.
“We are now well known not just for our expert sourcing and design skills, but for our robust global supply chain – which ensures we deliver high quality products at the right prices and at the right time, so that retailers can take full advantage of our footfall-driving lines.
“2010 will be an even more exciting year for us – we have already secured coveted international and UK contracts that are helping us to grow rapidly in a tough trading environment.”
Third in the list, and ranking 18th nationally, is Manchester-based Air Energi, which specialises in recruitment for the oil and gas industry.
It employs 110 staff and saw profits increase 76% over the last two years and hit £5.3m last year.
It places around 1,000 contractors with clients, including global giants such as ExxonMobil, ConocoPhillips and Shell.
It has offices in the Americas, the former Soviet Union, Europe, the Middle East, Australasia and Asia Pacific. As well as providing staff, Air Energi also offers support for its contractors, including helping them arrange accommodation, transport, work permits and visas.
Zeus Capital owns 40% of the company, after backing a £30m management buyout in August 2009.
Next in the list is classroom technology company Promethean, which ranks 20th nationally with almost 75% two year profit growth to £22m.
The Blackburn-based company is planning a £400m initial public offering later this year. Tony Cann, who founded the company in 1996 and still owns about 55% of the company stands to become a multi-millionaire on the back of the listing.
Private equity firm Apax owns around 24% of the business after investing back in 2004.
The final company to make the North West’s top five, ranked 26th nationally, is Cheshire-based training company Protocol Skills, which saw profits increase 67% to £6.9m, and is 75% owned by CBPE.
Others in the list are Bolton-based Integrated Dental Holdings (30th nationally); Merseyside waste oil recycler OSS Group (31st nationally); Blackpool Confectionery manufacturer Tangerine (47th); and Prescot testing company Stewart Group (62nd).
Private equity-backed companies with the fastest-growing profits in the Northwest
|
National |
Company |
Location |
Annual Profit Growth |
Latest |
Latest |
Latest |
Main Shareholders |
| 14 |
Parasol Payroll service providers |
Warrington | 87.26% | 3,589 | 8,111 | Apr 09 | Inflexion Private Equity (65%) Rob Crossland (25%) Other Management (10%) |
| 17 |
Ultimate Products Homeware designer and importer |
Oldham | 78.03% | 5,163 | 190 | July 09 | LDC (46%) Management (54%) |
| 18 | Air Energi | Manchester | 76.22% | 5,348 | 110 | Dec 08 | Zeus Private Equity (40%) Management (60%) |
| 20 | Promethean Educational Technology Development |
Blackburn | 74.97% | 22,006 | 633 | Dec08 | Apax (24%) Cann trustees (55%)Management and staff (21%) |
| 26 [89] |
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