Watch: Insider's Business Briefing - 15th October
Laurence and Ben discuss the largest manufacturers in Wales, an employee ownership deal in the North East and a landmark investment in Northern Ireland.
Category
🗞
NewsTranscript
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.