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Watch: Insider's Business Briefing - 15th October
Insider Media
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14/10/2024
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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00:00
Two new insider lists, an employee ownership deal in the North East, and a landmark investment
00:06
in Northern Ireland.
00:07
That's all coming up in today's Business Briefing.
00:15
My name is Lawrence Gulganan.
00:17
I'm Ben Butler.
00:18
Morning, Ben.
00:19
Morning.
00:20
Yes, so we mentioned two lists, so I think we've got to get the ball rolling.
00:22
Perhaps you can tell us about one of them.
00:24
Yes, absolutely.
00:25
So we've got a top 200 mid-market businesses in the Southwest.
00:31
And tell me, what does a mid-market entail?
00:33
So basically, that is a mid-market profit tracker.
00:37
Insider measures the performance of regional companies by EBITDA, and it takes into account
00:43
those with turnover of no more than 80 million pounds.
00:47
And also, it has an applied limit of 100 million capital employed as well, so that's how the
00:54
list is determined.
00:55
Okay, so I imagine you've got some pretty interesting and well-known firms in that category.
01:00
Yes, you do.
01:01
So the most interesting and well-known are the creators of Wallace and Gromit.
01:04
Oh, right.
01:05
Okay.
01:06
Yes.
01:07
Well, are you a fan?
01:08
Yes.
01:09
It takes me back to my childhood.
01:10
I used to enjoy watching the various Christmas episodes.
01:13
Oh, they're superb.
01:14
I mean, I'm not of encyclopedic knowledge, but I think my favorite one is Chicken Run.
01:20
That's by them.
01:21
Yes, Chicken Run's a very good film.
01:22
And also, they're behind Shaun of the Sheep as well.
01:25
Ah, right.
01:26
Okay.
01:27
And tell me this, where are they based?
01:28
So they're based in Bristol.
01:29
They are.
01:30
Right.
01:31
Okay.
01:32
They were founded in 1976 by Peter Lord and David Sproxton.
01:36
Right.
01:37
Okay.
01:38
And their rise as a global animation studio has largely been driven by the success of
01:45
some of the various iconic characters that we've discussed.
01:47
So, yeah.
01:49
Yeah, because they're not just their own success.
01:51
They have almost set up a new market for that sort of stop animation models and so on.
01:57
Absolutely, yes.
01:58
And another key firm making the list is Gardner Bros.
02:02
Right.
02:03
Okay.
02:04
That one doesn't ring a bell.
02:05
It'd be difficult to be as famous as Gardner.
02:07
So what do they do?
02:08
Yes.
02:09
So the business started life as a traditional tannery in the center of Gloucester.
02:14
And the family-run company has thrived in recent years.
02:17
And it's now a leading global footwear and clothing distributor.
02:21
Right.
02:22
Okay.
02:23
I suppose a tannery, so leather goods.
02:24
And there is a link there.
02:25
Yes, absolutely.
02:26
So, yeah.
02:27
They're another big name.
02:28
And if you'd like to check out the full table, that's available in the latest Southwest Business
02:33
Insider magazine.
02:34
Excellent.
02:35
It's out now.
02:36
I'm sure that's got everyone rushing to their laptops.
02:37
Absolutely.
02:38
Because you can, of course, subscribe to our magazines and our newsletters online.
02:42
Away from the list for a moment, if you will.
02:44
We've got an employee ownership deal in the Northeast.
02:47
Always an interesting area for me.
02:48
Yes.
02:49
It's a big thing at the moment.
02:50
There's a real growing trend towards EOTs, isn't there?
02:53
Everywhere as well.
02:54
Because I know you cover Wales.
02:56
In my own Wales, back to GS Verde, yeah.
02:58
GS Verde, they sort of sing their, you know, how many deals they have.
03:03
Yes.
03:04
And how good they are for both founders and the employees who are buying into the business.
03:08
Absolutely.
03:09
Anyhow, in the Northeast, we've got Meldrum Construction Services.
03:13
They're a 60 million turnover business.
03:15
One of the larger ones I've dealt with, actually.
03:18
They're headquartered in Gateshead and they've transitioned to employee ownership.
03:22
The firm was founded in 2001 by Dave Meldrum.
03:25
About 20 years old.
03:26
And it employs more than 220 people now.
03:30
And they operate in areas like construction, civil engineering, M&E.
03:34
So that whole sort of construction.
03:35
A real kind of wide spectrum.
03:37
Exactly.
03:38
It's a big number of employees as well.
03:39
It is.
03:40
And 60 million turnover.
03:41
So it's a big firm.
03:42
And I think from the point of view of the founder, there's a chance to pass on the ethos
03:45
of what you built the business around.
03:48
Yes.
03:49
And there's still some continuity as well, isn't there?
03:51
Yeah, yeah.
03:52
Actually, in this case as well, Dave Meldrum is staying on as chief executive.
03:56
And there's also been a board of trustees established.
03:59
So, yeah, hopefully that will work out well.
04:01
What's the reason that they've stated behind the move?
04:04
Well, I suppose it's a chance for Dave Meldrum to crystallize some of his investment.
04:11
And also a chance for the staff to share in the benefits when the business is doing well.
04:15
I'm sure there'll be further growth and success.
04:17
Yeah, well, they'll certainly hope so, definitely.
04:19
So now I had a sneak preview of the next list you're going to talk about.
04:23
And it includes the UK's oldest company.
04:26
Yes, that's right.
04:27
So the official maker of UK coins, the Royal Mint, based in Clantryshampton, South Wales.
04:34
In their latest year, they posted turnover of £1.35 billion.
04:39
So they've once again topped the list of the top 100 manufacturers in Wales.
04:44
With a turnover of £1.35 billion.
04:48
So the list is ranked according to turnover.
04:52
I see.
04:53
And I think they're really interesting, aren't they?
04:55
Because they initially started out as the maker of coin.
04:59
But they're now doing all different things, aren't they?
05:01
They're into precious metal recycling, accumulation of coins.
05:06
Yes, absolutely.
05:07
As you said about the commemorative coins as well,
05:10
they did something for King Charles, for instance.
05:13
So they're really, really expanding in that area as well.
05:17
They have stopped overseas coin production,
05:21
which had an impact on their profits in the most recent year.
05:25
But in terms of turnover, they're absolutely flying.
05:28
And they're looking on making further investments going forward.
05:32
And who else makes the list, Ben?
05:35
Also making the list is, in second, we've got GE Aircraft.
05:40
Okay.
05:41
Engine services, aircraft engine services.
05:45
And where are they based?
05:47
They're based in Cardiff.
05:48
Right.
05:49
And also Winstead, listed group.
05:51
Oh, yes.
05:52
The agricultural business.
05:53
Yes.
05:54
And we've also got, making up the list, 4th Salsa UK.
06:00
A steel business.
06:01
Cardiff steel giant, yeah.
06:03
Again, my eerie knowledge.
06:04
I used to cover the Wales patch.
06:06
So these names are all ringing a bell.
06:08
Yes.
06:09
And another big name, Ipsen Biopharm.
06:11
They're 5th on the list as well.
06:13
Ah, and they played a key role in the vaccine production at the time of COVID.
06:17
Yes, with the COVID, absolutely.
06:18
And also we've got some South West Wales firms.
06:20
So Clineffley based, Morelli.
06:23
Okay.
06:24
Another big name there.
06:25
And also Soffidel UK.
06:27
They're a tissue paper giant in Neath.
06:30
And the list also looks at the fastest growing firms as well.
06:34
And the fastest growing firm is Vista.
06:38
So that's a window maker and fitter.
06:41
Right.
06:42
Based up in North Wales, Buckley, Flintshire.
06:45
Right.
06:46
So they've seen some real success.
06:47
Their sales grew to 16.7 million pounds in the latest year.
06:51
That's up from 5.4 million pounds.
06:54
Right, so they're going great.
06:55
Sounds to me like the list.
06:56
Following an acquisition, that is.
06:57
So they acquired Rooms and Views Manufacturing.
07:00
So that's really helped boost the turnover there.
07:02
And if you'd like to see the full list, it's again in the latest Wales Business Insider magazine.
07:09
Fantastic.
07:10
Well, that sounds like there's lots of sectors, lots of areas as well.
07:14
Absolutely.
07:15
So that's been interesting for people to read about.
07:16
Well, we'll finish with news of a landmark investment in Northern Ireland.
07:21
Yeah.
07:22
Where Lisbon based CERDN has secured a 7.5 million pound funding package
07:27
from the Investment Fund for Northern Ireland and also Global Investment Management Company.
07:32
57 stars.
07:34
Now, CERDN is a provider of software and imaging products for the analysis of diseases.
07:42
Important area.
07:44
Yeah, and it helps accelerate the analysis and diagnosis of diseases.
07:49
So it's always great when you read stories about investment being made in these areas.
07:52
Yeah, and it's a big investment there.
07:54
And also their skilled jobs that they'll be creating in that area.
07:58
And I'm about to say it's the largest investment from the fund.
08:01
It's the largest investment.
08:03
I think it's the fifth equity investment from the Investment Fund for Northern Ireland and the largest.
08:09
So yeah, they are contributing 2.5 of the 7.5 million with 57 stars contributing the remaining 5 million.
08:16
Great stuff.
08:17
A really worthy investment from there.
08:18
No, absolutely.
08:19
And it'll be great to see how that works out for them.
08:23
Yeah, so to find out more about the stories Ben and I have been speaking about,
08:26
go to insidermedia.com.
08:28
There you can subscribe to magazines, find out more about the list that Ben's been telling us about.
08:33
You can subscribe to our newsletters.
08:35
And you can also find out about upcoming events.
08:38
That's everything from us.
08:39
See you next time.
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