Aberdeen based independent energy consultancy ADIL is the only Scottish firm to make it into the Top 10 of the 100 fastest-growing mid-market businesses in the UK and Northern Ireland.
A report by specialist bank and asset management firm Investec assesses the performance of mid-market businesses over a four year period. ADIL’s growth, which saw turnover rise to £33.5milion last year, secured the company 10th position in the prestigious list.
Overall representation of Scottish businesses on the list declined by 29% however, falling from seven to five. The highest rate of business growth was reported to be in the North West of England.
The Investec listing is the third accolade for the business in as many months, with founder and managing director James Paton shortlisted in the Ernst and Young Entrepreneur of the Year 2015 Award; and the organisation also being listed in the Top 1000 companies to inspire Britain by the London Stock Exchange.
ADIL, which has access to over 200 personnel based in Aberdeen, London and China, has experienced a consistent demand for their market leading conceptual engineering, development and production operations management support.
Mr Paton said: “We are very proud to be recognised for our growth and achievements over the past few years. 2015 has been a highly challenging time for most businesses working in the North Sea but these market conditions allow companies to be far more creative; creativity is something we have traditionally excelled at, developing and delivering creative, innovative solutions for our clients. We are also putting into practice new commercial approaches where we work in partnership with our clients, sharing in the benefits.
“This continued recognition of our efforts to develop and grow our people and our business, while delivering cost effective and innovative solutions to our clients,, , is a feather in our caps.”
Across the Investec Top 100, the picture is positive: average reported turnover based on compound annual growth rate is 41.4%, up from 37.8% in November – an increase of nearly 10%.
Phil Shaw, chief economist at Investec, said: “The Mid-Market 100 results echo the broad based nature of the UK’s economic recovery as a whole, with diversity both in terms of the types of activity and the geographical spread of the participating businesses. With the UK upturn looking increasingly solid, there is every reason to believe that the mid-market sector will continue to flourish over the next couple of years.”