North East Businesses Shine at the 2024 Fastest 50 Awards

RE:GEN Group was crowned this year’s overall fastest-growing business, marking a double victory as they also won the large business category. This is the second consecutive year they’ve achieved this, having been 2023’s overall fastest-growing business and winner of the medium-sized business category.

“We’re overwhelmed and really surprised but in the best way possible… We’ve always aimed to differentiate ourselves from the typical brokerage world by delivering real value to our customers, this award shows we’re doing something right.”
Andrew Richardson, CEO, Troo

“Wherever you see spades in the ground or cranes on the skyline, behind that are long-term partnerships between the public and private sectors. It is this collaboration that allows the North East to deliver the sustainable and inclusive economic growth that we need.”

Jen was speaking alongside The Journal’s Graeme Whitfield, Nick Gholkar, Executive Partner of  Ward Hadaway’s Newcastle office and Ward Hadaway partner Damien Charlton who spearheads the North East Fastest 50 awards.

With a combined turnover of £1.7 billion, the 50 companies on this year’s list are a testament to the strength and versatility of the North East’s business community. Achieving an impressive average turnover growth of 54.6%, these businesses highlight the region’s exceptional capability for innovation and continued success.

RE:GEN Group secured two awards – the fastest-growing large business and overall Fastest 50 winner. The housing regeneration specialist has become a key player in the region’s social housing sector, working with local authorities and housing associations to deliver sustainable housing solutions.

In the medium-sized business category, OES Group, based in Birtley, took the top spot. Known for its work in marine safety and power generation, OES has expanded its operations both in the UK and internationally. The small business category saw Troo, a Sunderland-based energy procurement specialist, emerge as the fastest-growing small business.

“To be honest, this win came as a bit of a shock, but we’re incredibly proud.  All of our employees give everything to what we do – it’s so rewarding to see that effort pay off.  Robert Forsyth, Managing Director, OES Group

Opening the awards Damien also commented “The North East has always had a strong foundation in industries like construction and manufacturing – indeed this year 21 companies in the list are from these sectors. Other industries, including technology, retail, leisure and recruitment are also well represented, demonstrating the broad base of economic success that underpins our regional economy.

“GWS Holdings made its sixth appearance this year, while Merit Group Services, Adderstone, and Bulk Tainer Group each marked their fifth time on the list. Four other companies are celebrating their fourth appearance, showcasing their consistent growth and enduring strength over time.”

The total increase in turnover from the first set of accounts to the latest for 2024’s North East Fastest 50 companies reached £930 million. This is proof of the outstanding growth we’re seeing. Our overall winners, in particular, have achieved an average turnover growth of 201.79%, one of the highest growth figures we’ve ever recorded since the inaugural Fastest 50 Awards in 1998.

Cross-sector, regional businesses are embracing sustainability and green infrastructure, responding to the demand for a low carbon future. This adaptability is crucial for the North East to continue thriving as we look ahead to new opportunities, especially in areas like renewable energy and digital infrastructure.

“It’s humbling to receive this recognition. Our people drive everything we do. It’s inspiring to stand alongside so many fantastic businesses.” Brinsley Sheridan, Chief Operating Officer, RE:GEN Group

During his speech Nick Gholkar also said “What’s particularly exciting is how many of these companies are authentically committed to driving positive change through responsible and sustainable practices. They’re proactively shaping a future where business success goes hand in hand with environmental and social responsibility. Congratulations to each and every business featured on this year’s list.”

The awards celebrated the remarkable financial achievements of regional companies while showcasing the deep-rooted sense of collaboration, shared vision and hunger for success that fuels them.

Damien added: “The businesses we’ve celebrated today are a credit to the North East. Their innovation, tenacity and commitment to excellence are what make this region such a fantastic place to live and work. Congratulations to all the winners – your success is well deserved.”