The image above is from Anesco’s website.
Since 1997, the Fast Track (in association with The Sunday Times) has been compiling league tables of the fastest-growing private companies in the UK. The companies are usually ranked in terms of sales growth, and there are now several tables, including one for the tech sector and one for companies with the most sales growth in their international sales. According to the latest Sunday Times Virgin Fast Track 100, the company who had the fastest-growing sales over the last three years was Anesco.
Anesco helps businesses, local authorities, housing associations and homeowners reduce their carbon emissions. They do this by offering a whole range of services including audits and installations. As well as being recognised by the Fast Track as the fastest-growing company in 2014, Global Cleantech also acknowledges Anesco as one of the 100 top Cleantech businesses in the world. (Cleantech, or clean technology, refers to services, products or processes that are designed to reduce waste and are not resource-intensive to implement).
The growth statistics for this company are quite astonishing – in 2011 its sales totalled £1million, and just three years on its sales totalled £106.7million, which equates to an average growth of 374.94% per year in that period. Anesco was also the fastest-growing company in 2013. The business was founded by Adrian Pike and Time Payne in 2008, and its head office is in Reading, Berkshire. Through its work with homeowners, local authorities and housing associations, the company has helped take over 80,000 out of fuel poverty.
The company was spun out of Scottish and Southern Energy (SSE) in 2010, and, according to the Fast Track 100, the two founders had very ambitious aims from that point. In addition to this, there have been a number of other factors that have led to its astronomical growth. The business, some of which is currently owned by private equity investor CBPE Capital, received £3m from SSE Ventures early on, then subsequently received an additional £3m from Zouk Capital. Zouk Capital’s stake was later purchased by Scottish Equity Partners (SEP) and Hermes, before being purchased by CBPE Capital.
There have also been a number of other factors which have undoubtedly created favourable conditions for companies such as Anesco to thrive in recent years. As the price of gas and electricity has skyrocketed over the past decade, homeowners and tenants have been looking for ways to save money on their utility bills by making their homes more energy-efficient. In addition to this, as the public has become more environmentally conscious, they are looking for ways to reduce their carbon footprint, not just to save money but also to conserve the environment. Political support for more energy-efficient homes has also been strong in recent years, as has the government’s support for forms of renewable energy such as solar panels – another area that Anesco is heavily involved in. As well as working with investors who want to invest in forms of renewable energy such as solar power, Anesco set up and runs a very large solar farm in Anglesey.
In the future Anesco expects to form additional partnerships with the government and predicts that sales will almost double again in 2015.
This article is not intended to imply that there is any existing relationship between Kingly Brookes and Anesco.
How we can help
Here at Kingly Brookes we work with ambitious, fast-growing business and help them to resolve their growing pains.Partner Martin Jones has been a qualified accountant and has run his own businesses for over 25 years. To find out more about how Martin can help your business you can call him on 0207 292 8850 or email Martin.Jones@kinglybrookesllp.co.uk.