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Making Finance Easy

27 / 10 / 2016

Newport and Monmouthshire based companies amongst fastest growing firms in Wales

Newport and Monmouthshire based businesses are increasingly contributing to business growth in Wales

The 2016 Growth table of Wales’ fastest growing companies highlight that many of the fastest growing companies are located in Newport and Monmouthshire.

Edenstone, an Usk based house-builder has been named as the second fastest-growing business in Wales, with turnover rising by an average of more than 110 per cent over the last four years.

Training and recruitment group Smart Solutions were awarded seventh place in recognition of achieving 46 per cent growth in the last four years.

Smart Solutions, who recently announced the sale of its training and development arm to Sigma Group Holdings earlier this month, is headquartered in Langstone, Newport, with 52 locations across the UK.  It employs more than 200 full-time staff and in its last financial year turned over about £90m.

Henry Howard Finance (HHF), the largest independent finance company in Wales also featured on the list.

The Newport-based lender has seen record growth since 2014 when it received a £25 million investment from Cabot Square Capital allowing it to increase its lending capacity and restructure into four divisions, HH Vendor, HH Asset, HH Cashflow and HH Retail Finance.

The company is forecast to lend more than £100 million this year, up from £75 million last year and £40 million in 2014.

HHF now employs more than 100 people, a growth of 60 per cent over 18 months and has a string of awards to its name including Leasing World’s Vendor Specialist of the Year 2015 and Best Channel Business Service from the Comms National Awards 2016.

It has a portfolio of more than £150 million which includes more than 20,000 different UK-based businesses.

Mark Crook, Co-founder and Chief Operating Officer at HHF, said:“There is a wealth of talent within the Welsh business sector, and we are proud to be part of it. We look forward to continued growth throughout 2017.”

The full Growth 100 table of Wales’ fastest growing companies can be found in the November edition of Wales Business Insider.