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Seven North East companies recognised as Britain’s leading private mid-market growth companies

Seven North East companies have been included in the 10th annual Sunday Times Grant Thornton Top Track 250 league table, ranking Britain’s leading private mid-market growth companies with the biggest sales.

These companies all increased sales or profits by at least 10% year-on-year, achieving combined sales of £8.5 billion and employing more than 45,000 people.

Car dealers Benfield Motor Group, radiator and boiler manufacturer Ideal Stelrad Group and engineering company British Engines, all based in Newcastle made the list.

North Shields based food and drink wholesaler Kitwave Wholesale Group also featured, along with South Shields clothing manufacturer Barbour.

Other entrants came from Sunderland sofa and carpet retailer ScS and Washington’s car dealership company Jennings.

The biggest mid-market private company in the region is Newcastle-based car dealer Benfield Motor Group, which sells 11 car brands from its 34 dealerships across the northeast, Yorkshire, Cumbria and Scotland.

Under chief executive Mark Squires, 50, the third generation of the family in charge since the firm was founded in 1957, sales increased 15% to £622 million in 2013.

Barbour and Stelrad will be particularly pleased with the recognition as they did not appear in the league table last year.

The fourth-generation family firm is chaired by Dame Margaret Barbour, 74, and is active in 40 countries. Sales grew 11% to £152 million in 2013.

The companies in the northeast and Yorkshire appear with businesses from around the UK, including Aston Martin, Dr Martens, Jeyes, Nando’s, Pret A Manger, Warburtons, and Yeo Valley.

The Grant Thornton Top Track 250 league table and awards programme is sponsored by Grant Thornton and Barclays, and compiled by Fast Track, the Oxford-based research and networking events company.

Practice leader for Leeds and Newcastle offices at Grant Thornton UK LLP, Will Oxley, said: “These mid-sized businesses are such an integral part of the UK economy.

“They continue to thrive and grow, often on an international stage and their achievements are rightly celebrated here in the Top Track 250.

“We listen carefully to them about the barriers, challenges and opportunities that they see and, through our ‘Agents of growth’ campaign, champion policy changes that will help.

“We think this dynamic segment of the market is starting to find a voice and is being heard.”

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