51: Sitec Group

At 51 on the Hot 100 list, Sitec is one of the more mature businesses featuring in this year’s Hot 100. Founded in 1951 by Leonard Medlock, who still owns a 25 per cent stake in the business, the company has sprouted into one of the world’s largest privately owned engineering services companies, with sales last year exceeding £73.7m.

Not only have Leonard and his son David resisted the temptation to sell the business but they also own it outright, having self-funded it with no loans or equity investment in the firm’s 57-year history. They put Sitec’s solid growth down to a wealth of projects won from its key clients in the UK and Europe, which include Airbus. Forecasts put next year’s turnover at £82m, despite a slight slowdown in the aerospace industry.

www.sitecgroup.com

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