The fastest-growing firms in Wales can be revealed. The indigenous companies making the 25th annual list of the Wales Fast Growth 50 - a project devised by Prof Dylan Jones-Evans - collectively generated revenues of £880m in 2022.
Over three years they grew by an average of 208% - a record for the Wales Fast Growth 50 index. And for the first time in 25-years, all 50 firms have grown by more than 100% to make the 2023 list.
The firms employ more than 4,000 people, having created 2,000 new jobs in just two years at a time when employment in Wales has remained flat. As well as driving impressive revenue growth they have also delivered strong profit margins.
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The sectors with the most growth firms in 2023 list are construction and building services, consumer products, and business services.
There continues to be an increasing number of technology and digital businesses represented as well as green oriented companies. However, for the first time since the Fast Growth 50 was established back in 1999, there are no manufacturing firms on the index.
Fast growing firms were to be found in 16 of the 22 Welsh local authority areas, with Cardiff accounting for nearly third with 15 companies. The Valleys local authority of Rhondda Cynon Taf is also a hotspot with five firms on the list, the same number as Swansea.
Prof Jones-Evans said: "Wales Fast Growth 50 serves as a benchmark for growth and innovation in the private sector. However, the Wales Fast Growth 50 is more than just a list of successful companies; it is a testament to the power of entrepreneurial spirit and a catalyst for business growth and innovation across Wales.
"By recognising the achievements of these scale-up companies every year, the Fast Growth 50 is not only highlighting individual business success but providing valuable insights and inspiration for the broader business community."
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Since the Fast Growth 50 was started in 1999, the 720 firms that have appeared on the 25 lists are estimated to have created around 65,000 jobs and generated £38bn into the Welsh economy, much of which is spent on local goods and services.
The list is ranked on revenue growth from 2020 to 2022 for firm's headquartered in Wales.
This year’s index is in partnership with UBS, the world’s leading and global wealth manager.
Mark Goddard, head of 海角视频 regions at UBS Global Wealth Management said: “Business owners and entrepreneurs are the engine of our economy, and UBS has a long history advising and connecting them on each stage of their wealth journey, helping them to unlock their potential.
"Led by entrepreneurial spirit and often solving some of the 海角视频’s biggest issues, the level of talent and innovation uncovered through this year’s list shows that more needs to be done to support small businesses to strengthen local economies and give back to the local community.
" As the lead sponsor of this year’s Fast Growth 50, UBS is looking forward to following and supporting these businesses as they go from strength to strength.”
The Wales Fast Growth 50, 2023 list
1. Au Vodka (Swansea):
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Established: 2015
Growth (2020-2022): 6114.9%
Au Vodka has grown exponentially to become the most popular and sought after vodka brand in the 海角视频, with revenues increasing from £705,000 in 2020 to £44m in 2022. Its staggering revenue growth of 6,114.9% over the two year period of 2020-22 sees its topping this year's Wales Fast Growth 50 influential index.
The brand's widespread popularity is supported by endorsement from celebrities such as Floyd Mayweather and Ronaldinho. It has amassed over 340,000 followers on Instagram, making it the most followed vodka brand on social media.
The firm's signature shiny gold bottle and handcrafted pewter labels, provide a luxurious experience for customers, who pay upwards of £30 per bottle. Au Vodka has sold over three million bottles worldwide, exporting to 33 countries, seeing strong support from customers in Australia and Europe.
Swansea has been crucial to its success, with strong community support helping the brand gain early traction. Au Vodka’s early stage growth in Swansea spread to surrounding areas and eventually across the 海角视频 and globally through social media and word-of-mouth.
Its current HQ is in Swansea and is committed to remaining in the city. Au Vodka is on track to almost double its workforce to reach more than 110 by the end of its current financial year. The goal eventually will be to bring its distillery operation to Swansea, an investment that would create a further 80 jobs.
Au Vodka has invested in top talent, growing to 68 staff across its HQ Swansea and its operations in Amsterdam, and Atlanta. Over the next five years, Au Vodka aims to become Wales’ first unicorn company, valued at over $1bn. To achieve this it will focus on significant growth in the US where it is targeting sales of one million bottles. Have recently opened an office in Atlanta it looking to make further hires as part of a state wide expansion drive.
2. Involve Rail (Pontypridd)
Established: 2015
Growth (2020-2022): 863.2%
Involve Rail is a South Wales-based recruitment and project delivery firm serving the rail industry. Specialising in skilled labour supply for infrastructure, construction, signalling, and engineering roles, the company's growth is driven by major rail improvement projects in the region.
With experienced leadership and a dedicated team, Involve Rail plans to expand leveraging opportunities with Transport for Wales to support the delivery of infrastructure improvements across the country.
3. Castell Construction (Swansea)
Established: 2019
Growth (2020-2022): 691.9%
Castell Construction is a leading construction firm specialising in sustainable, affordable, and accessible housing. Partnering with housing associations and local governments, the company addresses the critical need for such homes.
Castell is well positioned to continue its rapid growth as a leader in developing affordable and accessible housing solutions.
4. Bearmont Group (Llandudno)
Established: 2018
Growth (2020-2022): 591.3%
The Bearmont Group, based in North Wales, is regional property development and investment firm with diverse divisions.
With over 35 years of experience, Bearmont Group owns a varied real estate portfolio, with a focus on long-term, sustainable growth, and unlocking value across planning, development, and asset management.
5. Cleverchefs (Cardiff)
Established: 2015
Growth (2020-2022): 564.2%
Cleverchefs is an independently owned chef-led contract caterer, delivering food and service to businesses across the 海角视频.
Originally focusing on event and wedding catering, the company has two distinct business lines: Epic Caterers for events and Cleverchefs for contract catering in workplaces, schools, and retail locations. It also has its own coffee brand, Ground Control Coffee.
6. Sero (Cardiff)
Established: 2017
Growth (2020-2022): 531.0%
Tackling barriers in net-zero housing, Sero focuses on technical planning, resident engagement, and innovative delivery models.
With series A investment from Legal & General Capital and Hodge Bank in 2021, Sero aims to expand into new markets and advance technology, aligning with a global mission to combat climate change.
7. Hoop Recruitment (Cardiff)
Established: 2016
Growth (2020-2022): 512.7%
Hoop Recruitment is led by professionals with extensive experience, from teachers in education to nurses in healthcare.
Notably, the agency is an approved supplier for the 海角视频 Government, reflecting its consistent growth. Hoop prioritises candidate well-being through initiatives like Hoop Happiness, fostering higher engagement and motivation.
8. Ramsay & White (Cardiff)
Established: 2018
Growth (2020-2022): 472.1%
Ramsay & White is an award-winning group offering a range of service including property finance, real estate, property management, wealth management, and accountancy. With offices in South Wales, Stevenage, and Bath, the company serves clients 海角视频-wide and internationally.
Boasting a team of over 70 professionals, Ramsay & White attributes its growth to a focus on the property investor and developer market, client education, and expanding its service offerings.
9. Town Square Spaces (Caerphilly)
Established: 2017
Growth (2020-2022): 387.6%
Town Square Spaces is a Caerphilly-based company committed to fostering entrepreneurship and community growth. Providing co-working spaces and business support programmes, it serve freelancers, business owners, and remote workers across the 海角视频.
With a commercial mindset and a renewed B-Corp status, Town Square Spaces plans to expand its impactful business support activities 海角视频-wide over the next five years, leveraging digital resources to reach communities.
10. Central FM Group (Ebbw Vale)
Established: 2013
Growth (2020-2022): 384%
Central FM Group is a rapidly growing facilities management company offering integrated services such as security, cleaning, and recruitment.
The company plans to sustain organic growth by expanding into new regions and service lines, and is well-positioned to capitalise on the growing facilities management market in South Wales and beyond, providing clients with a clean, safe, and conducive workplace.
11. Zip World (Llanrwst)
Established: 2011
Growth (2020-2022): 368.2%
Zip World renowned for its unique experiences like ziplining, underground trampolining, and mountain coaster rides, This has seen it becoming of the 海角视频's fastest-growing experience-based businesses.
With new sites and plans for expansion through acquisitions and joint ventures, Zip World combines thrilling adventures with stunning settings, drawing over 250,000 visitors annually.
12. SPORTTAPE (Caerphilly)
Established: 2010
Growth (2020-2022): 347.4%
SPORTTAPE started from a garage and has since grown into an international brand, focusing on business to consumer sales, particularly through Amazon.
With a mission to help athletes stay injury-free, SPORTTAPE has a distinctive branding and customer-centric approach. Its ethos of “helping athletes perform and stay injury free,” has led to strong brand loyalty.
13. Brand Hatchers (Cardiff)
Established: 2019
Growth (2020-2022): 332.7%
Brand Hatchers owns and operates consumer brands, notably Brain Blasterz, Europe and the Middle East's top sour candy brand.
Its e-commerce division, featuring brands like Nurture by Nature and Guitar Lab, excels on Amazon, contributing to the company' international expansion plans and goal to establish Brain Blasterz as a global brand. Brand Hatchers demonstrates operational excellence in launching and scaling international brands.
14. Tollgate Engineering Services (Port Talbot)
Established: 2019
Growth (2020-2022): 308.6%
Tollgate Engineering Services is a building services engineering contractor operating in South Wales and south west of England.
Specialising in mechanical, electrical and plumbing engineering and renewable energy installations, it employs a design-build approach with BIM (building information modelling) to ensure on-time and on-budget project delivery. Positioned for growth, Tollgate benefits from its experienced leadership, proven track record, and strategic focus on sectors like social housing.
15. Stable Resources (Cardiff)
Established: 2001
Growth (2020-2022): 306.1%
Stable is a Cardiff-based IT consultancy and staffing firm that evolved from freelance technology recruitment to offering cloud solutions and learning services.
As a Microsoft gold partner, Stable facilitates the adoption of Microsoft 365, Azure, and other cloud services, with a focus on supporting remote work and fostering a culture of inclusion.
16. Edenstone Holdings (Caldicot)
Established: 2003
Growth (2020-2022): 305.%
The Edenstone Group is a South Wales-based housebuilding for the private and social housing sectors.
The group's growth is attributed to strong relationships, and adaptability. Edenstone is committed to a net zero energy strategy and aims to deliver zero carbon homes at an ambitious pace.
17. ACAI Outdoorwear (Deeside)
Established: 2016
Growth (2019-2021): 289.2%
Meticulously designed for performance, fit, and fashion, ACAI pioneers sustainable, women-centric outdoor wear.
The brand, marked by its commitment to diversity, fosters a community through initiatives like Outdoorsing inspiring women to prioritise well-being. The ACAI journey is a testament to resilience, passion, and vision triumphing against all odds.
18. RGM Security (Swansea)
Established: 2014
Growth (2020-2022): 259.4%
RGM Security is a leading provider of security guarding services, specialising in manufacturing, high-end retail, local government, and education sectors.
With a strong management team, a focus on employee development and client relationships, it strategy is to expand beyond the Welsh marketplace.
19. Chetwood Financial (Wrexham)
Established: 2016
Growth (2020-2022): 257.5%
Chetwood Financial is a digital bank which has used its customer-first approach, digital-first technology, and supportive shareholders to help fill the gaps left by mainstream banks and develop targeted financial products.
Over the next five years, Chetwood plans to expand its savings proposition into ISAs and business savings accounts. The company is also preparing to launch ModaMortgages, a buy-to-let mortgage brand.
20.Trakcel (Cardiff)
Established: 2012
Growth (2020-2022): 237.5%
TrakCel is the global leader in providing cell orchestration systems to the cell and gene therapy (CGT) industry.
With its flagship software, Ocellos, TrakCel ensures patient safety and efficient therapy delivery by tracking patients and therapies from enrollment through administration. The company's growth is fuelled by strategic partnerships, talent development, and Wales' support for life sciences and technology.
21. Pure Wealth Management (Cardiff)
Established: 2018
Growth (2020-2022): 203.5%
Pure Wealth Management is a financial planning firm offering holistic services across the 海角视频.
Embracing technology and proactive fund management, the company aims to modernise wealth practices. With a selective recruitment approach, it prioritise values and client focus, anticipating substantial growth in South Wales and London.
22. SL Recycling (Hengoed)
Established: 2016
Growth (2020-2022): 203.2%
SL Recycling is a leading independent metal recycler in South Wales. Operating a state-of-the-art facility, the company offers specialised recycling services to diverse industries.
With a focus on innovation and customer-centric solutions, SL Recycling plans strategic investments to support continued growth, leveraging its advantageous location and strong industry relationships.
23. PureCyber (Cardiff)
Established: 2010
Growth (2020-2022): 199.6%
PureCyber is a leading in integrated cyber security service - catering to businesses of all sizes and sectors. Its team of experts offers services from managed detection and response to governance, risk, and compliance support.
Located in Cardiff, PureCyber capitalises on a robust technology ecosystem, transport links, and skilled workforce to meet global cyber security demands
24. Jones’ Village Bakery (Wrexham)
Established: 2010
Growth (2020-2022): 196.2%
Jones' Village Bakery is now led by the third generation of the Jones family, standing out as a premier private label bakery serving major 海角视频 retailers and foodservice companies.
The bakery blends traditional recipes with modern techniques to produce premium breads, rolls, pies, sausage rolls, and pastries. Anchored in North Wales, its strategic investments in state-of-the-art facilities and emphasis on quality and customer service fuel continued growth.
25. Ascona Group (Pembroke Dock)
Established: 2011
Growth (2020-2022): 188.7%
Ascona Group, a Pembrokeshire-based forecourt operator founded, has emerged as a leading independent forecourt operator in the 海角视频.
Focused on fuel margin and retail appeal, the company has gained recognition with flagship service stations. Employing 850 across more than 60 sites, Ascona is on track to having 300 forecourts across the 海角视频 over the next five years.
26. Creo Medical (Chepstow)
Established: 2003
Growth (2020-2022): 188.1%
Creo Medical pioneers minimally invasive electrosurgical devices with its flagship product, Speedboat Inject, being used in over 20 countries. It again makes this year's list having topped the Wales Fast Growth 50, 2022.
It is recognised by the NHS and global hospitals for its impact on efficiency and patient outcomes. Creo Medical continues rapid growth, expanding its product portfolio and global reach through strategic partnerships with industry leaders.
27. Educate Resourcing (Wrexham)
Established: 2017
Growth (2020-2022): 169.3%
Educate Resourcing, formed by experienced educators, addresses gaps in quality opportunities for young people and aspiring teachers.
With rapid growth, its become a trusted provider of staffing solutions to schools in North Wales and Cheshire, earning a reputation for excellence. Its success is a testament to the exceptional service they deliver with a commitment to maintaining excellence in the future
28. Delio (Cardiff)
Established: 2016
Growth (2020-2022): 169.2%
Delio offers a comprehensive digital infrastructure for private markets investing.
Its global expansion strategy spans eighteen countries, providing a white-labelled platform for streamlined deal distribution, transaction management, compliance, analytics, and reporting. Delio's success hinges on international growth, client collaboration, and a culture emphasising hard work and client satisfaction.
29. FSEW (Cardiff)
Established: 2002
Growth (2020-2022): 157.4%
FSEW, the Cardiff-based international freight forwarder, is a leader in sustainable shipping.
It operates a fleet of over 50 trucks, offering air, sea, road, and rail freight services. Pioneering eco-friendly initiatives, FSEW introduced the 海角视频’s first commercial electric articulated trucks and aims for a net zero emissions fleet by 2024.
30. Nutrivend (Pontyclun)
Established: 2012
Growth (2020-2022): 156.8%
Nutrivend is one of the largest sports nutrition vending operations in the 海角视频.
The company offers comprehensive solutions, including vending machine sales, rentals, managed vending, wholesale distribution, and e-commerce. Nutrivend's rapid growth is attributed to strategic partnerships and data-driven decision-making, with a goal to achieve revenues of £50m by 2025.
31. Lexington Corporate Finance (Cardiff)
Established: 2015
Growth (2020-2022): 152.6%
Lexington Corporate Finance is a Cardiff-based advisory firm specialising in mid-market mergers, acquisitions, and corporate finance.
The 12-person team focuses on sectors like retail, manufacturing, logistics, and healthcare, providing expert advice on growth plans, fund raising, acquisitions, and disposals. Lexington prioritises client needs, fosters long-term relationships, and plans for ongoing team development and expansion of its southern 海角视频 presence.
32. Curzon Wealth Management (Bridgend)
Established: 2012
Growth (2020-2022): 147.6%
Curzon Wealth Management offers tailored wealth management solutions to personal and corporate clients in Wales. Its success is attributed to strategic acquisitions, quality team recruitment, and collaboration with professional introducers.
Looking ahead, Curzon Wealth Management aims to expand, increasing advisors to 20, clients to 3,000, managing £500m in funds, and achieving a net profit of at least £2m annually.
33. Passport to Employment (Pontypridd)
Established: 2016
Growth (2020-2022): 146.7%
Passport to Employment is a Pontypridd-based training and recruitment company. Specialising in work-related courses, the company offers diverse training, including motivation, money management, first aid, and construction health and safety.
Recognised for excellent customer service, new course offerings, and a guaranteed pass promise, Passport to Employment aims to expand its reach across Wales and the south west of England, capitalising on Pontypridd's strategic location at the heart of rail's South Wales Metro network.
34. Laser Wire Solutions (Pontypridd)
Established: 2011
Growth (2020-2022): 142.8%
Laser Wire Solutions pioneers wire stripping through innovative laser technology.
The company has seen rapid growth by fostering a culture of excellence, innovation, and collaboration. Ongoing R&D, strategic partnerships, and a skilled team drives their continuous advancements, positioning Laser Wire Solutions for global expansion and customer-centric evolution in wire processing.
35. WebBox Digital (Cardiff)
Established: 2008
Growth (2020-2022): 141.4%
WebBox specialises in enhancing digital marketing for sports, health, and leisure organisations.
The company crafts tailored websites and targeted campaigns, focusing on increasing leads and online bookings. Its strategic growth is attributed to client-centric relationships, heightened demand during the pandemic, and a recent focus on the sports, health, and leisure sectors.
36. Genpower (Pembroke)
Established: 2006
Growth (2020-2022): 140.8%
Genpower is the exclusive distributor for Hyundai Power Products in the 海角视频 and Ireland, and globally for JCB power products.
Headquartered in Pembroke, the company sources high-quality power products and sells directly to end-users and major retailers. Utilising innovative, premium products, the company plans to establish 50 worldwide distributors for JCB power products through strategic partnerships and expansion efforts.
37. Cellar Drinks Company (Crickhowell)
Established: 1994
Growth (2020-2022): 139.5%
Cellar Drinks Company is a prominent on-trade drinks supplier.. Its five-year plan includes infrastructure investment, workforce development, fleet expansion, and diversification into outdoor events, serving urban and rural areas of South and Mid Wales.
Committed to customer satisfaction and sustainable growth, Cellar Drinks Company is set for continued success.
38. City Energy Network (Cardiff)
Established: 2013
Growth (2020-2022): 138.6%
City Energy Network is a Cardiff-based energy efficiency consultancy specialising in retrofit assessments and installations for homes and businesses.
It offers bespoke solutions, focusing on Wales and attribute growth to compliance, strategic investment, and a culture of quality. Future plans include expanding services, diversifying markets, and achieving 海角视频-wide coverage.
39. K & C Group (St Asaph)
Established: 2013
Growth (2020-2022): 132%
Privately owned construction and property development company K&C Group (NW), based in North Wales, has become a leading regional contractor and developer since its founding in 2013.
Focused on high quality and a motivated workforce, they undertake projects spanning residential, social housing, education, healthcare, leisure, industrial, commercial, refurbishment, and civil engineering in both private and public sectors.
40. Bibado (Carmarthen)
Established: 2014
Growth (2020-2022): 131.7%
Bibado, founded in Cardiff in 2014 and now based in Carmathen, pioneers innovative baby weaning products for mess-free mealtimes.
The bibs and cutlery are designed to enhance the learning experience for babies. Whilst dominating the 海角视频 market with 1 in 5 weaning families using their products, Bibado has also seen global expansion, reaching North America, Australia, Europe, and Asia.
41. Rhymney Brewery (Pontypool)
Established: 2004
Growth (2020-2022): 130.1%
Rhymney Brewery is a South Wales Valleys-based brewery and pub operator.
Known for cost control and premium service, it has grown from producing 500 pints weekly to over 200,000 across six pubs in South Wales. Future plans include expanding its pub network and sustaining leadership in Wales' craft brewing resurgence.
42. United Worldwide Logistics (Bridgend)
Established: 2009
Growth (2020-2022): 128%
United Worldwide Logistics is a Bridgend-based independent logistics provider offering multi-modal services across the 海角视频, Europe, and worldwide.
The company strategically established an in-house customs brokerage post-Brexit to streamline new compliance requirements, showcasing adaptability and proactive problem-solving. Its dedication to service excellence and global expansion, particularly in France and the US, positions it as a preferred logistics partner.
43. ALS Managed Services (Hengoed)
Established: 2014
Growth (2020-2022): 127.5%
ALS Managed Services is a recruitment agency specialising in innovative staffing solutions for the 海角视频's recycling, logistics, and food manufacturing sectors.
The firm's decentralised model and client-candidate partnerships drive industry-leading service. Recognised for resilience during Covid-19 pandemic, it prioritises ethical recruitment and aims for growth through strategic acquisitions, leveraging support from Wales' entrepreneurial community.
44. Trojan Group (Pontypridd)
Established: 2012
Growth (2020-2022): 118%
Trojan Group specialises in food retail and commercial sectors.
Renowned for fast-track projects, from drive-thru fast food to large-scale developments, Trojan ensures high-quality, cost-effective construction. With a comprehensive service range and a commitment to safety, it maintains a strong reputation, attracting major brand partnerships and continuous growth.
45. Ickle Bubba (Swansea)
Established: 2013
Growth (2020-2022): 117.1%
Swansea-based Ickle Bubba is a children's nursery brand committed to affordable and stylish parenting.
With a product range emphasising affordability, quality, style, and simplicity, the company's growth vision includes expanded product areas and international brand awareness. A strategic sales channel strategy ensures widespread accessibility and success.
46. BFL Engineering Services (Bridgend)
Established: 2006
Growth (2020-2022): 114.6%
BFL Engineering Services is a multi-skilled engineering services provider specialising in mechanical, electrical, and building services solutions.
The company's commitment to high-quality work, on-time delivery, and customer-centric solutions has driven its growth. Plans for expansion into new sectors highlight BFL Engineering's vision and sustainable approach.
47. Energist (Swansea)
Established: 2007
Growth (2019-2021): 112.3%
Energist is a global leader in aesthetic technology, with it regulatory approved NeoGen Plasma device is used for skin rejuvenation.
Energist's premium technology, celebrity endorsements, and media coverage have enhanced its global visibility, and despite facing international competition remains committed to continuous improvement and growth.
48. HSG Facilities Management (Cardiff)
Established: 2015
Growth (2020-2022): 111.8%
HSG Facilities Management (HSGFM), which topped the Wales Fast Growth 50 index in 2021, is a rapidly growing facilities management company.
Specialising in healthcare, hospitality, and manufacturing sectors, HSGFM tailors services to meet client needs. During the pandemic the company provided additional support, showcasing its customer-centric approach. With plans for expansion and a focus on customer relationships, HSGFM is positioned for sustained growth.
49. Hartland Fire (Cardiff)
Established: 2017
Growth (2020-2022): 109.6%
Hartland Fire, is a leading provider of passive fire protection.
Serving clients nationwide, including local authorities and housing associations, the company prioritises compliance and training. Recent investments in software and certifications showcase its commitment to quality service, and with an expanding team and strategic hires, Hartland Fire is poised for sustained growth.
50. Carbon Zero Group
Established: 1989
Growth (2020-2022): 105.1% (St Asaph)
Carbon Zero Group's activities span energy, leisure, and robotics, aiding businesses in cost reduction and sustainability.
Offering solar solutions, hot tub rentals, and robotic automation, the company thrives on innovation. Rooted in Wales, it contributes to local development and aims to grow commercial energy projects, championing a net-zero future.