West Midlands demolition firm AR Demolition been named in a prestigious report celebrating the UK’s fastest-growing and most dynamic small and medium sized enterprises (SMEs).
The ‘1000 Companies To Inspire Britain’ report is released annually by the London Stock Exchange Group (LSEG) and 2018 is the fifth year it has been published.
To qualify this year, companies had to have revenue of between £6 million and £250 million, be operating for at least three years and be among the fastest-growing in their industry sector.
Calculations were weighted to favour latest-year growth and any company with more than 20 per cent deterioration in net assets over the past three years was excluded.
With growth at AR Demolition, based in Carlton near Nuneaton, escalating turnover to £16 million in 2017, managing director Richard Dolman said he was proud for his company to be included.
“It’s a great feather in the cap for the company and a real fillip for all at AR Demolition to see us included in such a prestigious list,” he said.
“We’ve worked hard over the past few years to set ourselves apart from our competition, creating something different from the typical demolition company and trying to build a business for the future. So it’s great to see that being officially marked by those outside the business.
“Turnover this year is looking to be at record levels for us and we’ll know more on that soon. In the meantime, we also have some exciting initiatives in the pipeline, as well as some significant investments, which will further develop the foundation for our future.”
AR Demolition was congratulated for its appearance in the report by David Tredinnick, MP for Bosworth, who visited the company in 2016 and said he was delighted to see evidence of its progress since then.
“It is fantastic news that AR Demolition, a local company and employer, has been included on the LSEG’s flagship Companies to Inspire Britain list,” he said.
“AR Demolition is an innovative company and it has been a pleasure to visit them in the past and see at first hand their approach to developing young people’s skills through apprenticeships.
“I congratulate AR Demolition on this prestigious achievement and it is really beneficial for the region to have such inspirational, dynamic and growing companies in our area.”
Nikhil Rathi, CEO of LSEG, said: “We warmly congratulate all of the companies identified in this year’s ‘1000 Companies to Inspire Britain’ report.
“Five years on, the report continues to demonstrate the strength and diversity of British businesses across the country. These dynamic companies are the backbone of our economy, playing an important role in the UK’s ability to innovate, export and grow.
“This report is a significant part of London Stock Exchange Group’s broader campaign to support UK high growth companies. We are committed to championing British businesses and Britain’s dynamic entrepreneurial spirit.”
In April, AR Demolition announced the purchase of four new excavators, including three new versatile high reach Kiesel machines from Germany, in a £1.5m investment.
The purchase followed a £1m acquisition of new machinery at the end of 2016 and heralded the sale of some redundant plant units purchased since AR Demolition was incorporated a decade ago.