British manufacturers’ solid growth defies economic challenge
The top 200 fastest-growing privately-owned manufacturing companies in Great Britain generated £8.4 billion in revenue according to Grant Thornton UK’s inaugural Manufacturing Growth Index 2025.
The companies achieved a collective earnings before interest, taxes, depreciation, and amortisation (EBITDA) constant annual growth rate of 45% over two years, effectively doubling profits during a period marked by significant energy cost increases, supply chain challenges, and geopolitical uncertainty. Additionally, revenue grew at a healthy compound annual rate of 17.9%, while employment also expanded, with headcount rising 4.4% across more than 40,000 jobs.
The index focuses on privately owned manufacturing companies headquartered in Great Britain, each with a minimum EBITDA of £1 million and manufacturing as their core activity. Rankings are based on EBITDA compound annual growth over two years, excluding food and drink manufacturers.
Industrial products power ahead
Industrial products emerged as the strongest sub-sector, representing 32% of the top 200 companies. Metals processing and fabrication accounted for 17%, while machinery and equipment contributed 15%, demonstrating the sector’s innovation in industrial technology.
At the top of the rankings sits Sabeti Wain Aerospace Limited, followed by Castledon Ltd. Together, the list reflects a diverse mix of aerospace, engineering, and industrial businesses, combining established manufacturers with fast-growing companies.
Northern region leads the pack
Growth was led overwhelmingly by the North of England, which accounted for 37% of the top performers. Seventy-four companies in the region generated £3.3 billion in revenue. The Midlands followed closely, contributing nearly a third of the rankings and £2.6 billion in revenue. London and the South made up 19% of the companies on the index, an impressive showing given the region’s traditional focus on services rather than manufacturing.
Scotland demonstrates industrial focus
Scotland, which accounted for 7% of companies in our index, demonstrated a strong industrial focus, led by Scottish Leather Group Limited and Star Refrigeration Limited. Wales accounted for 5%, with several high performers in transport and mobility-related manufacturing.
Nick Gillott, Head of Manufacturing and Industrials at Grant Thornton UK:
“I am pleased to launch Grant Thornton UK’s Manufacturing Index 2025 report highlighting successful British manufacturing businesses and celebrating their contributions to the economy.
“Manufacturing businesses have adapted, innovated, and driven operational excellence to achieve growth in a challenging environment. The opportunity now is for the government, capital providers, and supply chain partners to build on this momentum. We will revisit this research next year to assess how the government’s Industrial Strategy is supporting the next phase of manufacturing growth.”