September 19, 2019 12.00 pm This story is over 66 months old

36 Lincolnshire companies ranked fastest-growing in the East Midlands

36 Lincolnshire companies made the list
Grant Thornton’s Mark Pashley (left) and John Bryant (right) with Matthew Turner, Director of Ballast Phoenix (centre).

Thirty six Lincolnshire businesses have been named in the top 200 for profit growth in the East Midlands, with two of them in the top three.

Lincolnshire’s fastest growing business is Bourne-based Ballast Phoenix, which is ranked in second place. It is the UK’s leading service provider to the energy waste industry and specialises in recycling waste into useable ash material for the construction industry.

Lincoln Protein, the animal rendering plant in Skellingthorpe, closely follows in third place, with Lincolnshire’s CGI Managed Services Group (IT outsourcing) ranked 13th in the list.

Derbyshire-based UKCG Group were ranked in first place. The firm produces, distributes and services Carbon, Graphite and Magnesium products to global industrial sectors including aerospace, defence and steel.

This is according to The East Midlands Top 200 Report 2019, which was published on September 17 by the regional office of business and financial advisers Grant Thornton UK LLP in association with the CBI, HSBC and Macildowie.

The 200 businesses in the report are based across Derbyshire, Nottinghamshire, Leicestershire and Lincolnshire. They have grown profits by an average of 30% and employment by 8.2%, and together provide more than 68,000 jobs across the East Midlands.

Lincolnshire companies taking up 36 places in the list shows a 32% average adjusted profit growth rate and a 10% rise in employment, totalling 7,352 people.

The top market sectors for the county are agriculture, food & drink (7 companies), property &construction (7 firms) and retail & leisure (7 businesses).

The average salary at the companies is £25,200 according to the study, with a 3.4% average pay increase.

The full list of Lincolnshire companies and their ranking is:

Ranking Company name Sector
2 Ballast Phoenix Property & construction
3 Lincoln Protein Holdings Ltd Agricultural food and beverage
13 GCI Managed Services Group Limited Services
19 Acorn Partitions & Storage Systems Services
20 Brayford Plastics Manufacturing
22 Parkacre Holdings Limited Manufacturing
29 Internet Fusion Limited Services
43 Freshlinc Group Limited Transport and logistics
57 Lincolnshire Herbs Ltd Agricultural food and beverage
63 Belvoir Lettings PLC Property & construction
64 Mortons of Horncastle Limited Manufacturing
69 Lindum Group Limited Property & construction
73 Broadgate Builders (Spalding) Limited Property & construction
73 Sharmans Agricultural Limited Agricultural food and beverage
80 The Bay Group/Freshtime UK Limited Agricultural food and beverage
86 B.A.Bush & Son Limited Retail and leisure
87 Chandlers (Farm Equipment) Limited Retail and leisure
93 Taylor Lindsey Limited Property & construction
98 Tanglewood Care Homes Limited Services
105 Game Engineering Manufacturing
111 Teen Spirit Limited Retail and leisure
112 Mark Harris (Lincoln) Limited Retail and leisure
114 Turnbull & Company Property & construction
118 Hawkes Farms Agricultural food and beverage
136 Staples (Vegetables) Limited Agricultural food and beverage
149 Direct Leisure Supplies Limited Manufacturing
154 Hexadex Limited Manufacturing
158 Pennell’s Garden Centres Retail and leisure
163 L.J. Fairburn And Son Limited Agricultural food and beverage
173 Doubleday Group Agricultural food and beverage
176 Ruskington Garden Centre Limited Retail and leisure
179 Elsoms (Spalding) Limited Agricultural food and beverage
184 Daubney (Holdings) Limited Property & construction
187 Kiowa Holdings Limited Manufacturing
188 Ambitions Personnel Limited Services
192 Majestic Bingo Limited Retail and leisure

Ballast Phoenix, Lincolnshire’s fastest-growing business

The firm turns ashes from energy to waste incinerators into materials for the construction industry

Based in Bourne, Ballast Phoenix is owned by a Dutch parent company and specialises in recycling ash. The company takes the residue from incinerated household waste and processes it to create Incinerator Bottom Ash Aggregate (IBAA), a useful product used in the construction industry.

This process also recovers residual metals which are eventually reused in various manufacturing industries such as the car industry.

Matthew Turner, Director at Ballast Phoenix, said: “There is great demand for our services as UK waste companies need our specialist approach to reduce their contribution to landfill, and the skills and expertise within the business mean we are well primed to quickly take advantage of opportunities in the market.

“By buying into the reuse and recycle concept, we have tapped into growing residual markets, helping us to achieve a profit growth of 134% compounded over the three years under review.

“Since the beginning, we have invested to improve the quality of our products and technology, sourcing funds through a combination of bank and group funding and R&D claims, and this is what will continue to drive our growth.

“By investing in technology to find alternative ways of doing things, we are well positioned to manage the unpredictable nature of the materials we handle, as well as changes in consumer habits and legislation.”

 

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