SELECT Car Leasing has been named the 13th fastest growing company using organic growth to expand.
Given the accolade by top 20 UK accountancy and HR consultancy firm Buzzacott in its annual Organic Growth 25 (OG25) table of the UK’s fastest organically-growing businesses, Reading-based leasing broker Select Car Leasing was placed 13th, showing growth of 135%.
“The significant on-going growth the company has experienced over the past 17 years has been in large part due to customer loyalty and referral,” read the citation.
Qualifying criteria to meet the OG25 submission process included:
- A minimum of 100% revenue growth over the latest three-year period
- A profitable business with a minimum latest revenue of £2 million
- Less than £1 million equity investment received in the last five years
- No acquisitions totalling more than 10% of the current business revenue
“Scaling a business without receiving external investment is a challenging one,” said the report’s author Matt Katz. “With our OG25 list, we aim to recognise this achievement and champion UK businesses and entrepreneurs that have chosen this route to growth.
“It’s a method that requires tenacity, hard work and vision. I personally want to congratulate every one of this year’s OG25 businesses and the teams behind them for achieving such exceptional growth, particularly given the challenging circumstances of the past 18 months.”
I am sure you will agree this is a major achievement for a leasing broker. We’ve done it all under our own steam. It’s incredible to think that over 17 years ago, along with my fellow director James O’Malley, we started broking from a bedroom in a rented house and we’re now running a business of this magnitude.Mark Tongue, director, Select Car Leasing
Select Car Leasing says it received 3300 enquiries a week during 2021, selling 30,000 lease contracts over the period, although delivery was down due to the semiconductor crisis impacting vehicle availability.
The leasing broker recently relaunched its corporate sales division, revamped its electric car provision and was headline sponsor for the Electric Motor Show within the British Motor Show. In the summer it also gained the naming rights to Reading FC’s football stadium fulfilling the boyhood dreams of club supporters Mark and James.
Mark added that the business remained as ambitious as ever for 2022, but said that market uncertainty was an issue clouding potential growth.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.