Lancashire pair among fastest-gorwing UK SMEs

Two Lancashire-based businesses have been included in this year's Sunday Times 100 list of the fastest-growing private companies.

Hispec Electrical Products of Chorley placed 56th and LCM Environmental Services placed 57th. Both are new entries on the list.

Established back in 2002, Hispec was initially a supplier of general electrical products but found success with its range of electronic transformers and began to develop a range of fluorescent lamps and luminaires that would later become a fully-fledged lighting portfolio.

After building a reputation as a major supplier of lighting and electrical products in the North West of England, the company began to expand its sales team to cover the whole of the UK and Ireland.

Increasing demand for LED lighting technology for a variety of applications such as commercial, domestic and industrial has helped drive growth of 73.69 per cent over the last three years, up to £19.7m last year.

LCM began life in 1987 as a fuel and tank maintenance specialist supporting a sister company, and today it is a successful group of companies in its own right.

The company's management later made the decision to begin supporting their clients on their path towards net-zero by offering solar, wind and EV charging services.

Investment in new services, equipment, marketing, staff, two business acquisitions and a new managing director and CEO entirely changed the fortunes of the company and over the last three years the company recorded growth of 72.35 per cent, up to £9.2m last year. 

Earlier this year, LCM won the Transformation category at the Red Rose Awards.

Jim Armitage, business editor of The Sunday Times, said: “The Sunday Times 100 is our annual celebration of the UK’s entrepreneurial achievements. The founders of these exciting businesses are vital job creators and innovators.

"The top 100 performed exceptionally during the pandemic and are proving resilient in the face of inflation, higher interest rates and a weaker domestic economy.”