27 Feb 2020 BDO recognises Pallet-Track as region’s fastest growing company
We’re delighted to announce we have topped the list of 50 of the fastest growing private equity (PE) businesses in the Midlands.
Our company, which has a national footprint representing almost 90 haulage businesses, heads the pack of 50 of the fastest growing PE firms that have contributed a staggering £2.7 bn in revenues to the region in the last financial year, £1 billion more than 2019, according to the Private Equity Growth Barometer published by international accountancy and business advisory firm BDO.
We achieved 48 per cent compound annual growth rate over the last three years and were one of the businesses contributing almost 6,000 jobs to the region, taking the PE employment rate to more than 21,000 over that period.
This trend-bucking achievement is against a backdrop of PE funding decline in the region between 2016 and 2018, according to the report which proves that the Midlands is still an attractive proposition for investors.
Andrew Mair, partner, assurance and business advisory at BDO said: “The emergence of sectors such as tech and media and support services and transport is helping to create a diverse and rich investment scene Midlands-wide, despite political uncertainty and concerns around Brexit businesses have experienced in recent years.”
Pallet-Track founder and managing director, Nigel Parkes, said: “We are always looking for evidence that we are doing a good job, so it is always gratifying to see our hard work and investment being recognised outside of the business. Continuing to make a contribution to the region is important to us because it recognises the talented people who work here and make it all happen for Pallet-Track across the UK.”