27 companies headquartered in the Midlands (when compared with 15 last year), including 7 in the East Midlands, have won places on the 12th annual Sunday Times HSBC International Track 200 league table.
Published this weekend, the league table ranks Britain’s mid-market private companies using the fastest-growing international sales.
These regional stars have grown their international sales by an average of 59% a year over the last two years to some total of £892m, all are profitable and together they employ a lot more than 18,000 people. The figures largely connect with financial periods before Covid-19 struck.
The region’s top-ranked company is new entrant BullionByPost (No 6), which sells silver and gold bullion bars and coins online to customers over the UK, Europe and America. Global trade tensions helped drive international sales up typically 205% per year over its last two years, to reach £36.7m in the year to April 2021, on gross total sales of £209.5m.
Solihull is home to fitness clothing retailer Gymshark – which topped the table in 2021 featuring for a fourth consecutive year. Its international sales grew by 60% annually, reaching £206.1m in the year to July 2021, on total sales of £260.7m. It was valued at more than £1bn in August when US private equity finance firm General Atlantic acquired a 21% stake.
The companies within the Midlands appear alongside well-known British brands based across the UK including Sweaty Betty, the women’s activewear brand that sells to 195 countries; BrewDog, which was valued at £1bn in 2021 and now has 100 bars worldwide; and Brompton, the bicycle manufacturer, which ships to 47 markets.
International Track 200 star alumni include Skyscanner, Fever-Tree and Dr Martens – which featured around the league table in 2021 with exports of £100m, and floated last month valued at £3.7bn.
The league table programme is sponsored by HSBC and DHL Express, and compiled by Fast Track, the Oxford-based research as well as networking events firm.
Amanda Murphy, Head of business Banking, HSBC UK, said: “Following a challenging start to 2021, all eyes take presctiption the companies that will drive a return to growth in 2021.
“We are certain that the innovation and entrepreneurial spirit of companies such as those in the Midlands for auction on International Track 200 will carry them forward.
“These companies show the strength, ambition and resilience of companies across the UK and are the type of businesses we are proud to aid every day.”
Private companies in the East Midlands using the fastest-growing international sales – ordered by county then rank: