The fastest-growing indigenous firms in Wales can be revealed.
The 2024 Wales Fast Growth 50, which was launched back in 1999, again takes turnover growth over the last two years (2021-23) as the determining ranking factor.
The 50 firms ranked in this year's league table, drawn from a wide range of sectors and located across Wales, had a combined turnover of £931³¾ and employed over 3,000 people in 2023. They also collectively increased their sales by £626³¾ during the 2021-2023 assessment period, at an average growth rate of 206% They also created 1,400 new jobs in two years.
Founder of the Wales Fast Growth 50 initiative, Professor Dylan Jones-Evans, said: "This index is more than just a list of successful companies - it is a testament to the power of entrepreneurial spirit and innovation at a time when the Welsh economy needs its business community to grow.
"Recognising the achievements of these fast-growing companies not only highlights individual business success but provide valuable insights and inspiration for the broader business community across Wales."
1. Involve Rail (Treforest) £9.3m (2013 turnover) 1,796.% (growth rate in revenues 2021-23)
Involve Rail has developed a significant project delivery, rail recruitment, and contingent labour offering over the past nine years. The team provides solutions tailored to clients within the rail industry in Wales and England.
2. Coffi Lab (Cardiff) – £4.4m, 1,102.3%
Coffi Lab is a fast-expanding coffee shop chain that welcomes both coffee lovers and their dogs. With locations across South Wales and England, it offers small-batch, ethically sourced coffee and is known for its warm, dog-friendly atmosphere.
3. Focus MEP (Cardiff) – £6.6m, 707.2%
Focus MEP specialises in mechanical, electrical, and public health engineering services. It offers installations in heating, ventilation, lighting, power, fire alarms, and renewable technologies like solar and heat pumps.
4. Health & Her (Cardiff) – £6.7m, 690.4%
Health & Her offers hormone health supplements for women, particularly during perimenopause and menopause. Its products, including multi-nutrient support supplements, are designed to help manage symptoms and support overall health.
5. Solar Buddies (Cwmbran) – £4.1m, 652.5%
Having already sold over 200,000 units, Solar Buddies offers child-friendly, refillable sunscreen applicators designed to make sun protection easy and mess-free, allowing children to independently apply sunscreen.
6. Specialist Finance Centre (Cardiff) – £2.3m, 643.1%
Specialist Finance Centre is committed to supporting brokers in serving their clients more effectively by providing the necessary tools and solutions where conventional mortgage applications are too complex or unsuitable.
7. Castell Group (Swansea) – £7.6m, 589.7%
Castell Group specialises in the construction of high-quality, affordable homes. Its focus on building energy-efficient social and disabled housing, aiming to address the housing crisis in South Wales.
8. Mallows Beauty (Cardiff) – £2.4m, 508.1%
Mallows Beauty is a skincare brand that focuses on body positivity and self-care. Its product range includes shave butters, body scrubs, and serums, all designed to nourish and celebrate real skin whilst promoting confidence and well-being.
9. Brand Hatchers (Cardiff) – £6.5m, 455.4%
Brand Hatchers specialises in developing and managing consumer brands. Its portfolio includes Brain Blasterz, a leading sour candy brand, Guitar Lab for guitar accessories, and Nurture by Nature Botanicals for bath care products.
10. TiQtoQ (Newport) – £2.7m, 435.3%
TiQtoQ is an engineering company specialising in software testing and assurance services. Founded in 2016, it offers managed services, test automation through its disQo platform, and resource augmentation to support quality assurance teams.
11. Cleverchefs (Cardiff) – £12.6m, 422.3%
Cleverchefs specialises in creative food for the education and workplace sectors. Known for its attention to detail, the company uses hig -quality ingredients and empowers its expert teams to deliver exceptional food and service.
12. HH Business Finance (Caldicot) – £2m, 406.1%
HH Business Finance provides bespoke business loans and financing solutions for SMEs in the º£½ÇÊÓƵ. It offers flexible business loans, professional services financing, and property finance, with quick funding and tailored terms.
13. Ground (Cardiff) – £1.3m, 400.6%
Ground Bakery is an artisanal bakery and specialty coffeehouse with locations in Cardiff, Penarth, and Cowbridge. Co-founded by MasterChef contestant Thomas Simmons, it offers a variety of organic breads, pastries, and a brunch menu.
14. Sporttape (Caerphilly) – £2.8m, 395.3%
Sporttape specialises in sports tapes and products to support athletes. Its range includes kinesiology tape, zinc oxide tape, cohesive bandages, and under wrap, designed to enhance performance, prevent injuries, and provide comfort and support.
15. Auto Spares Wales (Newport) – £4m, 348.2%
Auto Spares Wales is a family-owned business supplying automotive parts and accessories. With a commitment to quality and customer service, it provides expert advice and efficient delivery services to meet the needs of its clientele.
16. Goose Island (Swansea) – £4m, 320.2%
Goose Island is a family business that has been successfully sourcing, importing, and retailing high-quality ladies’ fashion for over 25 years. It’s known for its relaxed, layered style with intricate fabric combinations and beautiful prints.
17. Bell Cleaning Services (Newport) – £1.4m, 313.4%
Bell Cleaning Services is a family-owned business offering a range of cleaning solutions, including office cleaning, social housing cleaning, window cleaning, and environmental services along the M4 corridor, from Chepstow to Swansea.
18. Nashville Food Group (Bridgend) – £1.3m, 290.2%
Nashville Food Group supplies quality food products such as coffee, jams, and sweet spreads. It focuses on ethically sourced ingredients and high-quality standards, ensuring each product meets the highest standards of quality in the supply chain.
19. Avantis Marine (Bridgend) – £35.4m, 284.5%
Avantis Marine specialises in marine engineering solutions focused on environmental performance and clean technologies. It offers services such as exhaust gas cleaning systems, ballast water treatment systems, and boiler efficiency improvements for the shipping, oil and gas, and passenger transport sectors.
20. Jones International Holidays (Llandeilo) – £2.7m, 279.7%
Jones International Holidays is a family-run coach travel company offering a variety of package holidays, including city breaks, theatre trips, and European river cruises. Its services include coach travel, hotel accommodation, and excursions.
21. OTL Group (Pontypool) – £3.4m, 276.7%
OTL Group is a construction company with a large portfolio of commercial partners. It has a growing order book in the health, education and commercial sectors.
22. Wynne Group (Denbighshire) – £71.1m, 261.1%
Established in 1936, Wynne Construction provides innovative solutions on a partnering, design-and-build, and traditional basis for projects in the public and private sectors.
23. City Energy (Cardiff) – £101.1m, 232.5%
City Energy is focused on eradicating fuel poverty and improving energy efficiency. It offers heating, renewable energy systems, and insulation services to reduce costs and carbon emissions while helping customers access funding through programs like ECO and the Green Homes Grant.
24. Tir Prince (Rhyl) – £8.5m, 221.8%
Tir Prince Raceway is renowned for its harness racing events, offering a unique spectator experience on the º£½ÇÊÓƵ’s only all-weather half-mile floodlit track. It also features a fairground, market, and car boot sale, providing diverse entertainment options.
25. Cellar Drinks Company (Newtown) – £5m, 209%
Cellar Drinks Company is a family-owned drinks wholesaler supplying a diverse range of beverages – including beers, ciders, wines, spirits, and soft drinks – to pubs, bars, hotels, and restaurants across South and Mid Wales.
26. Tollgate Engineering Services (Neath) – £2.2m, 207.6%
With a fully integrated design-and-build capability, Tollgate Engineering Services is a building services engineering contractor providing a full range of mechanical and electrical installation services.
27. Industrial Pipework Services (Merthyr) – £12.6m, 203.4%
Industrial Pipework Services has over 25 years of experience providing bespoke mechanical engineering solutions to the water industry, including design, manufacture, installation, and turnkey projects.
28. Ascona Group (Pembroke Dock) – £291.2m, 201.2%
Ascona Group is a forecourt operator with 62 sites offering fuel, EV charging, and a range of retail partnerships with brands like Nisa, Starbucks, and Subway. It serves more than 300,000 customers per week.
29. Hoop Recruitment (Cardiff) – £16.3m, 198.6%
Hoop Recruitment specialises in recruitment for sectors such as social work, education, healthcare, and human resources. It offers a range of job opportunities and has a carbon-zero action plan.
30. Codiance (Cardiff) – £1.4m, 186.7%
Codiance is a software and web development company specialising in bespoke applications, system integrations, and content management systems. It provides tailored solutions to improve efficiency and decision-making.
31. PureCyber (Cardiff) – £2.1m, 177.7%
PureCyber is a globally recognised leader in cybersecurity, offering services to businesses of all sizes and industries. It provides a range of services and subscriptions to meet insurance and governance standards while optimising costs and resources.
32. FuelActive (Cardiff) – £1m, 176.3%
FuelActive is an innovative fuel delivery system that ensures 92% cleaner fuel reaches the engine by drawing fuel from just below the tank’s surface, avoiding contaminants that settle at the bottom.
33. SL Recycling (Hengoed) – £14.2m, 170.6%
SL Recycling provides recycling solutions for businesses. With a £10m processing facility, it has become one of the largest independent metal recyclers in the region.
34. AerFin (Caerphilly) – £167.7m, 156.6%
AerFin is a global aviation asset specialist that breathes new life into aircraft, engines, and parts. Serving over 600 customers across six continents, it offers a comprehensive range of services and solutions in the aviation industry.
35. TW Group (South Wales) (Swansea) – £3.3m, 166.7%
TW Group (South Wales) specialises in carpentry and roofing services across South Wales. It provides custom carpentry, roofing installations, repairs, and insurance work.
36. Litelok (Swansea) – £3.5m, 159.8%
Litelok develops and manufactures high-security locks for bicycles, e-bikes, and motorcycles. Known for its innovation, the company rigorously tests its products to provide top-tier security solutions.
37. Bootlegger Bars (Cardiff) – £1.6m, 156.6%
Bootlegger Bars is a family-run chain of prohibition-style bars with locations across the º£½ÇÊÓƵ, including Cardiff, Bristol, Brighton, Exeter, Leeds, and Richmond. It offers a blend of 'industrial chic and 1920s comfort', featuring live music and a wide range of cocktails and craft beers.
38. Central Recruitment Solutions (Ebbw Vale) – £4.6m, 152.3%
Central Recruitment Solutions specialises in staffing solutions for sectors such as manufacturing, engineering, logistics, and administration.
39. Spartan Scaffolding Solutions (Swansea) – £1.9m, 147.9%
Spartan Scaffolding provides commercial scaffolding services across South Wales. The company partners with businesses, organisations, local authorities, and health services on projects of all scales.
40. TrakCel (Cardiff) – £7.1m, 139.5%
TrakCel designs and supports digital cellular orchestration solutions for tracking and managing components in the cell and gene therapy supply chain. Its technology helps therapy developers deliver therapies to patients safely and efficiently.
41. Town Square (Ystrad Mynach) – £2.2m, 137.3%
Town Square provides co-working spaces and small business support, offering flexible workspaces and services. Its mission is to foster entrepreneurial communities and provide environments that support productivity and growth.
42. Royal Educare (Bridgend) – £2.5m, 137.1%
Royal Educare is a leading social care recruitment consultancy serving South Wales and Bristol. It works with private, charitable, and local authority care providers to offer staffing solutions in areas like elderly care, domiciliary care, and learning disabilities.
43. Educ8 (Ystrad Mynach) – £15.3m, 129.6%
Educ8 is Wales’ leading training provider, offering apprenticeships and work-based learning qualifications. With nearly 200 staff it delivers flexible, high-quality education across Wales.
44. RELM Group (Conwy) – £2.3m, 119.6%
RELM Construction specialises in planned and reactive maintenance, as well as commercial refurbishment projects. It handles substantial refurbishments and works on frameworks for housing associations and local authorities.
45. BCB International (Cardiff) – £14.7m, 119.1%
Established over 160 years ago, BCB International designs and manufactures life-saving and protective equipment for military, law enforcement, and civilian applications.
46. Pure Wealth Management (Cardiff) – £1.4m, 118.6%
Pure Wealth Management offers independent financial advice on pensions, investments, tax planning, estate planning, and wealth management.
47. Compare My Move (Cardiff) – £4.7m, 118.5%
Compare My Move helps º£½ÇÊÓƵ home movers connect with a network of verified conveyancers, solicitors, surveyors, and removal companies. With more than one million movers helped, the company also supports professionals in its network.
48. Chetwood Bank (Wrexham) – £37.1m, 111.2%
Chetwood is digital bank offering straightforward mortgages and savings products. Its services are designed for modern life, providing a seamless experience with quick setup and online support.
49. Menai Heating (Menai Bridge) – £8.9m, 109.9%
Menai Heating provides heating, renewable energy, and insulation solutions, focusing on eradicating fuel poverty and reducing carbon footprints. It serves homeowners, landlords, councils, and tenants through programs like the Energy Company Obligation Scheme.
50. RGM Security (Swansea) – £1.8m, 108.1%
RGM Security offers mobile and static guard services to the private and public sectors across South Wales.
