On October 11, the North East's business community gathered at the BALTIC Centre for Contemporary Art to celebrate the 27th Ward Hadaway North East Fastest 50 Awards, held in partnership with The Journal.
The event recognised the region's fastest-growing companies, with RE: GEN Group claiming the title of overall fastest-growing business for the second consecutive year. The housing regeneration specialist also won the large business category, following last year's win in the medium-sized category.
Jen Hartley, director of Invest Newcastle and Head of Economic Development at Newcastle City Council, addressed the audience, praising the resilience of the region’s businesses. “Despite the challenges we face, our businesses continue to grow, innovate and thrive. A key factor in this success is the strong partnerships between the public and private sectors, which help deliver sustainable and inclusive economic growth,” she said.
Jen shared the stage with Graeme Whitfield of The Journal, Ward Hadaway’s executive partner for Newcastle, Nick Gholkar, and partner Damien Charlton, who leads the Fastest 50 awards.
This year’s 50 companies represent a combined turnover of £1.7bn, with an average turnover growth of 54.6%. These businesses underscore the strength of the North East economy, excelling across sectors such as construction, manufacturing, technology, and retail.
In addition to RE:GEN Group’s double win, OES Group, based in Birtley, secured the top spot in the medium-sized business category. OES Group specialises in marine safety and power generation, and its operations have grown both in the Ƶ and internationally. Troo, a Sunderland-based energy procurement company, won in the small business category, marking another highlight of the event.
Opening the awards, Damien Charlton emphasised the ambition and diversity of the North East business landscape: “2024’s Fastest 50 showcases the breadth and ambition of our region’s businesses. From sectors like construction and manufacturing to technology, retail and leisure, these companies lead the way regionally and nationally.”
Twenty-one companies on this year’s list hail from construction and manufacturing, reflecting the region’s industrial roots. Meanwhile, technology, retail, leisure, and recruitment businesses also saw significant representation, reinforcing the North East’s diverse economic base. Long-standing companies such as GWS Holdings, which made its sixth appearance on the list, and Merit Group Services, Adderstone, and Bulk Tainer Group, which each appeared for the fifth time, demonstrate the consistent growth of the region’s enterprises.
“The total increase in turnover for 2024’s Fastest 50 companies is £930 million, with the winners recording an average growth of 201.79%, one of the highest figures since the awards began in 1998,” Damien said.
Nick Gholkar highlighted the region’s commitment to sustainability, pointing to how businesses are responding to the demand for a low-carbon future. “What’s exciting is how many of these companies are committed to driving positive change through responsible and sustainable practices. Congratulations to each and every business on this year’s list.”
The Fastest 50 list 2024:
L: large; M: medium; S: small
Each entry lists date of last analysed accounts, turnover in £000s, and average turnover growth
1. RE:GEN North East Limited
Winner: Overall fastest growing business and fastest growing large business (L) 31/3/2023; 40,448; 201.8%
2 OES Group Ltd
Winner: Fastest growing medium business (M) 31/3/2024; 10,823; 131.2%
3 Opencast (L) 31/12/2022; 36,284; 99.5%
4 Newton Hall (Northumberland) Limited (M) 31/7/2023; 13,606; 92.3%
5 Troo Ltd
Winner: Fastest growing small business (S) 30/9/2023; 6,600; 91.5%
6 Hutchison Catering Limited (M) 31/3/2023; 13,752; 74.9%
7 Waymid Electrics Ltd (S) 31/3/2023; 3,081; 67.3%
8 CPD Bodies Limited (L)30/6/20233; 7,914; 67.1%
9 Coleman James Ltd (S) 30/6/2023; 7,163; 60.9%
10 Apex Cables Limited (M) 30/4/2023; 12,517; 59.4%
11 Bulk Tainer Group Limited (L) 31/12/2022; 141,793; 59.1%
12 Wynyard Homes 2023 Limited (M) 31/3/2023; 25,388; 58.7%
13 Liberty Coaches NE Ltd (S) 31/10/2023; 3,009; 57.9%
14 Lane7 Ltd (M) 31/10/2023; 22,333; 57.7%
15 Shoptimised Ltd (S) 28/2/2024; 5,578; 56.5%
16 Primary Care Recruitment Ltd (M) 28/2/2023; 18,931; 54.5%
17 Adderstone 1993 Limited (M) 31/3/2023; 14,386; 52.9%
18 Nova Marketing Limited (M) 31/12/2022; 17,242; 51.62%
19 Hughes Bros Construction Limited (L) 30/11/2022; 56,365; 51.58%
20 Creditscale Limited (M) 31/3/2023; 28,382; 50.0%
21 Pennguin Limited (M) 31/12/2022; 16,180; 49.5%
22 Simpsons Malt Limited (L) 31/12/2022; 273,817; 48.9%
23 Colena Ltd (M) 31/7/2023; 18,912; 48.2%
24 Penny Petroleum (North East) Limited (L) 28/2/2023; 39,777; 48.0%
25 Country Valley Foods Ltd (M) 31/3/2023; 25,934; 47.5%
26 On A Roll Sandwich Company Limited (L) 31/1/2023; 30,516; 46.4%
27 Advantex Network Solutions Limited (M) 30/6/2023; 45.8%
28 Merit Group Services Limited (L) 30/6/2023; 88,456; 45.6%
29 Salem Tube International Limited (M) 30/9/2023; 18,800; 45.1%
30 Thompsons of Prudhoe Holding Ltd. (L) 31/3/2023; 82,673; 44.7%
31 Meldrum Construction Services Group Limited (L) 31/12/2023; 54,937; 44.1%
32 Slaters Electricals Limited (M) 31/1/2024; 23,657; 43.1%
33 Tyne Tees Entertainments Limited (S) 31/12/2022; 3,483; 42.5%
34 High Force Research Limited (S) 30/6/2023; 5,590; 42.2%
35 T.Manners & Sons Limited (M) 31/12/2022; 18,266; 41.33%
36 Youngs Quality Foods Ltd(S) 31/8/2023; 5,451; 41.31%
37 Jmac Group (Holdings) Limited (M) 31/12/202; 311,054; 40.7%
38 J Denham Metals Ltd (L) 31/3/202354,42139.7%
39 Kymel Trading Limited (S) 31/12/2022; 3,412; 38.7%
40 GEM Partnership Limited (M) 31/3/2023; 29,032; 38.244%
41 Steel Benders (Ƶ) Limited (S) 31/3/2023; 38.241%
42 Teescraft Engineering Limited (L) 31/12/2022; 36,385; 36.5%
43 Acklam Car Centre Limited(L) 31/3/2023; 126,358; 36.0%
44 Holystone Group Limited (M) 31/3/2023; 14,164; 35.6%
45 Razorblue Group Ltd (M) 31/5/2023; 14,964; 34.49%
46 Crown Care Holdings Limited (L) 31/10/2023; 56,157; 34.46%
47 Berm Holdings Limited (L) 31/10/2023; 32,230; 34.3%
48 Dunelm Geotechnical & Environmental Limited (M) 31/12/2022; 13,874; 33.9%
49 GWS Holdings Limited (L) 31/5/2023; 51,746; 33.5%
50 Cool Designs Holdings Limited (M) 31/12/2022; 22,080; 33.2%
