Medequip and Acorn Stairlifts are among the top 250 privately owned mid-market growth companies in the UK, having reported some of the biggest sales in the mobility industry.
Acorn Stairlifts posted sales of £177m last year and an operating profit of £19m, earning it its spot at 137 in the Sunday Times Top Track 250 list.
Meanwhile, community equipment provider Medequip, which owns online retailer Manage@Home, was placed 187th, having reported sales of nearly £150m and an operating profit of £5m.
Earlier this year, Medequip, which manages the loan of mobility equipment to people on behalf of the NHS among other service, said it spotted a growing opportunity for itself in the self-funded mobility retail market.
The firm’s financial results noted that a shift in population demographics and on-going pressure on the Government’s budget spend had produced “significant opportunities” for expansion.
Also featured on the list was WAV company Allied Vehicles which saw £130m of sales. Prosthetics and orthotics manufacturer Blatchford was also hailed as ‘one to watch’, although it did not qualify for the list. Its sales grew 18% to £75m last year, partly helped by acquisitions, and it is forecasting strong sales growth for this year.
The Sunday Times Grant Thornton Top Track 250 league table is published every year and ranks Britain’s private mid-market growth companies with the biggest sales.
The 250 companies listed this year achieved combined sales of £62.4bn, a 16% increase year-on-year, record profits of £5.4bn, up 34%, and they employ a total of 384,200 people, up 10%.
Almost half the table, 120 companies, were not on the league table in 2016 and 82 firms feature for the very first time.
Seven of the top 10 companies with biggest profits are headquartered outside of London and the southeast of England
Sacha Romanovitch, chief executive of Grant Thornton UK LLP, the title sponsor of the league table, praised the companies for their performance. He said: “The UK may be at a pivotal point in its history, but the Top Track 250 clearly demonstrates what can be achieved by exciting dynamic businesses.
“These companies think locally and act globally, they innovate to grow and embrace an entrepreneurial spirit that this country needs to secure a positive post-Brexit future. At Grant Thornton we are seeking to stimulate ideas and actions that can help shape a vibrant UK economy that thrives. We can all learn a lot from the Top Track 250.”