Engineering, fintech and beauty brands feature in national growth rankings

THREE Welsh businesses have been named among Britain’s 100 fastest-growing companies, highlighting the growing diversity of Wales’ scale-up economy.

Avantis Group, an engineering business delivering marine and offshore energy upgrade projects, was the highest-ranked Welsh company in the ORESA Executive Search Growth Index 2026.

The company placed 43rd nationally after achieving two-year compound annual revenue growth of 105.9%.

It was joined on the list by fintech firm ANNA Money, ranked 56th, and fast-growing beauty brand Hair Syrup, ranked 67th.

Orlando Martins, founder of Growth Index, said the results showed the strength and breadth of Wales’ business community.

He said: “Wales continues to produce ambitious companies across a wide range of sectors.

“What is particularly encouraging is the range of businesses, both in the top 100 and among the companies that narrowly missed out, from engineering and fintech to consumer brands.”

Now in its fifth year, the ORESA Executive Search Growth Index ranks the 100 fastest-growing companies in the UK.

This year’s list points to the resilience of Britain’s scale-up economy, with the average company achieving compound annual revenue growth of 136.1% over two years.

Together, the Growth Index 100 generated more than £11 billion in annual revenues, with businesses on the list ranging from data centres and art galleries to GB News and Popeyes UK.

Financial services remained the largest sector represented, accounting for a quarter of all companies featured.

Healthcare also continued to rise, helped by strong performances from biotechnology businesses, while retail enjoyed a resurgence after several more difficult years.

The report also notes that pure-play AI businesses are beginning to make a visible impact on the rankings, although they have not yet come to dominate the list.

The Growth Index is compiled through independent analysis of Companies House data. Growth is measured by two-year compound annual growth rate in revenues, with companies required to have a minimum base-year turnover of £100,000 and a minimum final-year turnover of £5 million.

PEMBROKESHIRE-BASED Ascona Group has completed the acquisition of Truckhaven (Carnforth) Ltd, a major trunk road services area in Lancashire.

The deal expands Ascona’s national portfolio to 70 sites and strengthens the group’s position in the UK roadside retail and services sector.

Truckhaven is located at Junction 35 of the M6 and has long been regarded as an important stopping point for the commercial transport industry and travelling public.

The 17-acre site includes an Esso-branded filling station, a detached 24-hour forecourt retail shop, overnight parking for 245 lorries, and an amenity building with a restaurant, showers, retail shop, licensed bar and launderette.

The site also includes a 26-bedroom en-suite hotel, providing accommodation and respite for drivers and other customers.

Darren Briggs, founder and CEO of Ascona Group, said: “We are delighted to complete the acquisition of Truckhaven.

“This is an exciting addition to our growing portfolio and reflects our confidence in the long-term opportunities within the UK roadside services market.

“Our ambition is to build on Truckhaven’s strong reputation by investing in the site, enhancing the customer retail experience, and creating a first-class destination for drivers and visitors alike.

“We have ambitious plans for the site. We intend to improve the forecourt facilities with a brand-new retail shop offering, and for HGV drivers, a brand-new state-of-the-art truck wash in the coming months.”

Ascona Group has become one of the UK’s most acquisitive independent forecourt operators, with continued investment across fuel retail, convenience, food-to-go and roadside services.

The acquisition of Truckhaven further broadens the group’s presence in a strategically important part of the market.

Michael Jelley, of Stonplan, who originally developed the Truckhaven site at Carnforth in the early 1990s, said: “We are confident that Ascona are the right people to take the site forward as the industry develops.

“They inherit a robust business that has prioritised the provision of high-quality facilities for the haulage industry, along with an outstanding operational team.”

Ascona Group said it continues to evaluate further acquisition opportunities across the UK as it pursues its long-term vision of building one of the country’s leading independent roadside retail and services businesses.

Legal work was undertaken by Simmons & Simmons for Ascona Group and Keystone Law for Truckhaven (Carnforth) Ltd.

Popular Saundersfoot pub closed its doors on Sunday after four years under current leaseholder

THE LEASEHOLD of a well-known Saundersfoot pub has attracted strong interest after the business closed suddenly at the weekend.

The Hean Castle Inn shut its doors on Sunday, June 28, after current leaseholder Suzannah Palmer announced she was stepping away from the business following four years at the helm.

Ms Palmer said the decision had been “heart-breaking”, but said months of financial pressure and personal circumstances meant she and her family could no longer continue.

The lease is now being offered for sale, with Ms Palmer confirming that she has already received 43 enquiries from people interested in taking over the pub.

She said: “We have been genuinely overwhelmed by the number of enquiries from people interested in taking over the lease at The Hean Castle Inn.

“This is an opportunity to acquire an established hospitality business in the heart of Saundersfoot, with a strong reputation built over the past four years.

“The sale includes the lease together with an agreed inventory of fixtures and fittings.

“We are looking for serious enquiries only, and sensible offers will be considered.”

Ms Palmer has clarified that the sale relates to the lease only, not the building itself.

Due to the level of interest already received, she said proof of funds will be required before any viewings or negotiations take place.

She added: “Once proof of funds has been received, I will happily discuss the opportunity and arrange a viewing.

“Until then, there will be no negotiations, no viewings and absolutely no further communication.”

The closure has prompted sadness among regulars and visitors, with many paying tribute to the pub and the work carried out by Ms Palmer and her family over the past four years.

In a message shared after the final shift, Ms Palmer said the decision to close had come after a difficult period.

She said: “I write this with tears in my eyes.

“Our last shift is done. It’s a bittersweet moment. The relief is real, but so is the sadness.

“The reality now is that we’ll be selling our lease, before emptying the building that we’ve loved, worked for and sacrificed so much to create.

“With our lovely George being unwell, alongside months of relentless financial pressure, I’m not going to pretend, I’m ready for a rest.”

She also urged people to continue supporting local independent hospitality businesses, warning that many pubs and restaurants are facing pressures that customers may not always see.

Ms Palmer said: “If there’s one thing I’d ask of everyone, it’s this: please continue to support your local pubs, restaurants and independent businesses.

“From the outside they may look busy, but very few people see the reality of the costs involved or how much it takes just to serve that one drink or one meal.

“Independent hospitality can only survive if people continue to support it.

“Your kindness over the past few days is something we’ll never forget. The Hean has been a huge part of our lives, and so have all of you.”

Anyone interested in the lease is asked to contact Ms Palmer by emailing [email protected] or calling 07395 292881.