Watch: Insider's Business Briefing - 15th October - video Dailymotion

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Laurence and Ben discuss the largest manufacturers in Wales, an employee ownership deal in the North East and a landmark investment in Northern Ireland.

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00:00Two new insider lists, an employee ownership deal in the North East, and a landmark investment

00:06in Northern Ireland.

00:07That's all coming up in today's Business Briefing.

00:15My name is Lawrence Gulganan.

00:17I'm Ben Butler.

00:18Morning, Ben.

00:19Morning.

00:20Yes, so we mentioned two lists, so I think we've got to get the ball rolling.

00:22Perhaps you can tell us about one of them.

00:24Yes, absolutely.

00:25So we've got a top 200 mid-market businesses in the Southwest.

00:31And tell me, what does a mid-market entail?

00:33So basically, that is a mid-market profit tracker.

00:37Insider measures the performance of regional companies by EBITDA, and it takes into account

00:43those with turnover of no more than 80 million pounds.

00:47And also, it has an applied limit of 100 million capital employed as well, so that's how the

00:54list is determined.

00:55Okay, so I imagine you've got some pretty interesting and well-known firms in that category.

01:00Yes, you do.

01:01So the most interesting and well-known are the creators of Wallace and Gromit.

01:04Oh, right.

01:05Okay.

01:06Yes.

01:07Well, are you a fan?

01:08Yes.

01:09It takes me back to my childhood.

01:10I used to enjoy watching the various Christmas episodes.

01:13Oh, they're superb.

01:14I mean, I'm not of encyclopedic knowledge, but I think my favorite one is Chicken Run.

01:20That's by them.

01:21Yes, Chicken Run's a very good film.

01:22And also, they're behind Shaun of the Sheep as well.

01:25Ah, right.

01:26Okay.

01:27And tell me this, where are they based?

01:28So they're based in Bristol.

01:29They are.

01:30Right.

01:31Okay.

01:32They were founded in 1976 by Peter Lord and David Sproxton.

01:36Right.

01:37Okay.

01:38And their rise as a global animation studio has largely been driven by the success of

01:45some of the various iconic characters that we've discussed.

01:47So, yeah.

01:49Yeah, because they're not just their own success.

01:51They have almost set up a new market for that sort of stop animation models and so on.

01:57Absolutely, yes.

01:58And another key firm making the list is Gardner Bros.

02:02Right.

02:03Okay.

02:04That one doesn't ring a bell.

02:05It'd be difficult to be as famous as Gardner.

02:07So what do they do?

02:08Yes.

02:09So the business started life as a traditional tannery in the center of Gloucester.

02:14And the family-run company has thrived in recent years.

02:17And it's now a leading global footwear and clothing distributor.

02:21Right.

02:22Okay.

02:23I suppose a tannery, so leather goods.

02:24And there is a link there.

02:25Yes, absolutely.

02:26So, yeah.

02:27They're another big name.

02:28And if you'd like to check out the full table, that's available in the latest Southwest Business

02:33Insider magazine.

02:34Excellent.

02:35It's out now.

02:36I'm sure that's got everyone rushing to their laptops.

02:37Absolutely.

02:38Because you can, of course, subscribe to our magazines and our newsletters online.

02:42Away from the list for a moment, if you will.

02:44We've got an employee ownership deal in the Northeast.

02:47Always an interesting area for me.

02:48Yes.

02:49It's a big thing at the moment.

02:50There's a real growing trend towards EOTs, isn't there?

02:53Everywhere as well.

02:54Because I know you cover Wales.

02:56In my own Wales, back to GS Verde, yeah.

02:58GS Verde, they sort of sing their, you know, how many deals they have.

03:03Yes.

03:04And how good they are for both founders and the employees who are buying into the business.

03:08Absolutely.

03:09Anyhow, in the Northeast, we've got Meldrum Construction Services.

03:13They're a 60 million turnover business.

03:15One of the larger ones I've dealt with, actually.

03:18They're headquartered in Gateshead and they've transitioned to employee ownership.

03:22The firm was founded in 2001 by Dave Meldrum.

03:25About 20 years old.

03:26And it employs more than 220 people now.

03:30And they operate in areas like construction, civil engineering, M&E.

03:34So that whole sort of construction.

03:35A real kind of wide spectrum.

03:37Exactly.

03:38It's a big number of employees as well.

03:39It is.

03:40And 60 million turnover.

03:41So it's a big firm.

03:42And I think from the point of view of the founder, there's a chance to pass on the ethos

03:45of what you built the business around.

03:48Yes.

03:49And there's still some continuity as well, isn't there?

03:51Yeah, yeah.

03:52Actually, in this case as well, Dave Meldrum is staying on as chief executive.

03:56And there's also been a board of trustees established.

03:59So, yeah, hopefully that will work out well.

04:01What's the reason that they've stated behind the move?

04:04Well, I suppose it's a chance for Dave Meldrum to crystallize some of his investment.

04:11And also a chance for the staff to share in the benefits when the business is doing well.

04:15I'm sure there'll be further growth and success.

04:17Yeah, well, they'll certainly hope so, definitely.

04:19So now I had a sneak preview of the next list you're going to talk about.

04:23And it includes the UK's oldest company.

04:26Yes, that's right.

04:27So the official maker of UK coins, the Royal Mint, based in Clantryshampton, South Wales.

04:34In their latest year, they posted turnover of £1.35 billion.

04:39So they've once again topped the list of the top 100 manufacturers in Wales.

04:44With a turnover of £1.35 billion.

04:48So the list is ranked according to turnover.

04:52I see.

04:53And I think they're really interesting, aren't they?

04:55Because they initially started out as the maker of coin.

04:59But they're now doing all different things, aren't they?

05:01They're into precious metal recycling, accumulation of coins.

05:06Yes, absolutely.

05:07As you said about the commemorative coins as well,

05:10they did something for King Charles, for instance.

05:13So they're really, really expanding in that area as well.

05:17They have stopped overseas coin production,

05:21which had an impact on their profits in the most recent year.

05:25But in terms of turnover, they're absolutely flying.

05:28And they're looking on making further investments going forward.

05:32And who else makes the list, Ben?

05:35Also making the list is, in second, we've got GE Aircraft.

05:40Okay.

05:41Engine services, aircraft engine services.

05:45And where are they based?

05:47They're based in Cardiff.

05:48Right.

05:49And also Winstead, listed group.

05:51Oh, yes.

05:52The agricultural business.

05:53Yes.

05:54And we've also got, making up the list, 4th Salsa UK.

06:00A steel business.

06:01Cardiff steel giant, yeah.

06:03Again, my eerie knowledge.

06:04I used to cover the Wales patch.

06:06So these names are all ringing a bell.

06:08Yes.

06:09And another big name, Ipsen Biopharm.

06:11They're 5th on the list as well.

06:13Ah, and they played a key role in the vaccine production at the time of COVID.

06:17Yes, with the COVID, absolutely.

06:18And also we've got some South West Wales firms.

06:20So Clineffley based, Morelli.

06:23Okay.

06:24Another big name there.

06:25And also Soffidel UK.

06:27They're a tissue paper giant in Neath.

06:30And the list also looks at the fastest growing firms as well.

06:34And the fastest growing firm is Vista.

06:38So that's a window maker and fitter.

06:41Right.

06:42Based up in North Wales, Buckley, Flintshire.

06:45Right.

06:46So they've seen some real success.

06:47Their sales grew to 16.7 million pounds in the latest year.

06:51That's up from 5.4 million pounds.

06:54Right, so they're going great.

06:55Sounds to me like the list.

06:56Following an acquisition, that is.

06:57So they acquired Rooms and Views Manufacturing.

07:00So that's really helped boost the turnover there.

07:02And if you'd like to see the full list, it's again in the latest Wales Business Insider magazine.

07:09Fantastic.

07:10Well, that sounds like there's lots of sectors, lots of areas as well.

07:14Absolutely.

07:15So that's been interesting for people to read about.

07:16Well, we'll finish with news of a landmark investment in Northern Ireland.

07:21Yeah.

07:22Where Lisbon based CERDN has secured a 7.5 million pound funding package

07:27from the Investment Fund for Northern Ireland and also Global Investment Management Company.

07:3257 stars.

07:34Now, CERDN is a provider of software and imaging products for the analysis of diseases.

07:42Important area.

07:44Yeah, and it helps accelerate the analysis and diagnosis of diseases.

07:49So it's always great when you read stories about investment being made in these areas.

07:52Yeah, and it's a big investment there.

07:54And also their skilled jobs that they'll be creating in that area.

07:58And I'm about to say it's the largest investment from the fund.

08:01It's the largest investment.

08:03I think it's the fifth equity investment from the Investment Fund for Northern Ireland and the largest.

08:09So yeah, they are contributing 2.5 of the 7.5 million with 57 stars contributing the remaining 5 million.

08:16Great stuff.

08:17A really worthy investment from there.

08:18No, absolutely.

08:19And it'll be great to see how that works out for them.

08:23Yeah, so to find out more about the stories Ben and I have been speaking about,

08:26go to insidermedia.com.

08:28There you can subscribe to magazines, find out more about the list that Ben's been telling us about.

08:33You can subscribe to our newsletters.

08:35And you can also find out about upcoming events.

08:38That's everything from us.

08:39See you next time.

Watch: Insider's Business Briefing - 15th October

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