Montague L Meyer (MLM) has been named in a Sunday Times top 100 list of private equity backed firms with fastest growing profits.
MLM, the only timber firm to feature in the Deloitte Buyout Track 100 list, was ranked 49th with an annual profit growth of 48.54%, measured by compound annual growth rate over the two financial years leading up to the company’s latest available figures (March 2008).
The company qualified for consideration in the Buyout Track table because private equity firm Alchemy Partners owns 81% of the firm (stemming from a 1998 buyout from Meyer International)
MLM posted record profits before interest, tax, depreciation and amortisation of £8.36m in the year ending March, 2008.
“There are a lot of new businesses and start-ups in the Buyout Track 100, so it is an achievement for a long established company like MLM to feature,” said MLM group financial director Mark Stokes.
He said banks and corporate finance companies had seen the list and telephoned to congratulate MLM on its performance, as well as fish for business.
Mr Stokes said record profits in 2007-2008 had been achieved through organic growth and strategic acquisitions. But he said this would not be repeated in the current financial year.
“It will be a profitable year but the whole world is now a different place than it was six months ago.”
Architectural practice Foster + Partners came top of the list with 147.4% annual profit growth.
