The 2019 Scottish Family Business
Top 100
Sponsored by
The Scottish Family Business Top 100 | 1
“Family businesses are the engine room of the Scottish economy. We need to support and promote this vital sector� Mark Christie Carbon Financial Partners
Thanks We would like to extend our thanks and appreciation to our sponsors of this report, Carbon Financial, and partners in terms of bringing the data together, Professor Claire Seaman of Queen Margaret University, Paul Bready of Craig Corporate Limited. 2 | The Scottish Family Business Top 100
Foreword Carbon is delighted to continue our support of this extensive piece of research, which again highlights the valuable contribution the family business sector is making to the Scottish economy. The top 100 family businesses in Scotland employ 112,688 people. This is a sector which needs to be both recognised for the excellent work done to date and supported so it can make an even greater contribution in the future.
Carbon’s involvement with family businesses typically begins at a time of change. This might be when value is about to be realised on exit or when it is time for value to pass to the next generation. With our family business clients our aim is to understand what each generation is looking to achieve and then to put in place a suitable plan to give them the best chance of achieving their individual goals. We can then apply our planning-led approach to the different generations, before turning back to the business to determine how all the individual objectives can be met.
Mark Christie Corporate Director www.carbonfinancial.co.uk Mark.christie@carbonfinancial.co.uk
The Scottish Family Business Top 100 | 3
Introduction Family firms are the driving force of economies
First and foremost, all of the businesses listed
the world over and Scotland is clearly no
in the Top 100 generate more than £25 million
exception. Across Scotland family firms are the
in turnover, with the top revenue generator
engine room of local and regional economies
being Arnold Clark Automobiles reporting £3.9
and continue to create significant income, wealth
billion which clearly quantifies the scale of the
and employment. The contribution of the Top
contribution of the sector. Collectively, the Top
100 family firms in Scotland goes a long way to
100 family firms in Scotland generate over £20
demonstrating how important these firms are to
billion annually, a significant portion of national
the national economy too.
GDP and within this highly successful group of
In our third report into the Top 100 family firms
businesses, over 112,000 people are employed.
in Scotland we can clearly see the growing
There is a also a diverse mix of businesses
contribution that is being made by the sector,
represented in the report with some that have
growing despite the prevailing economic and
been around for generations, others at a far
political uncertainties that are continuing to
earlier stage in their journey and a good mix of
cause concerns to businesses all over the
sectors represented too.
country. These firms are integral to the economy, and to Scotland, and it is vital that policy influencers and decision-makers understand their impact and support them too.
Family businesses have a story to tell and all of the firms listed in the Top 100 have a sense of real purpose, possibly driven by the aspirations of the founder at the start of the journey. Each
Family firms are significant and the quantifiable
and every family firm in Scotland has their
evidence generated by this report continues
own narrative, a point of difference that can
to shed light on the importance of the sector,
be a powerful tool in the commercial world
ensuring that appropriate recognition and
and this together with their sense of purpose
resources are directed to businesses that take
and underlying values clearly helps them to
a long term view, are good employers, in many
get results. Family firms across Scotland are a
cases stewards for future generations and also
fantastic resource and deserve to be proud of all
major contributors to community life the length
that they continue to achieve.
and breadth of Scotland, the lifeblood of many rural communities and an essential part of these regional economies.
The numbers say it all – Major employers, significance revenue generators and real assets to Scotland. Family firms across Scotland are a real force for good and deserve to be celebrated for all that they do and for their commitment to Scotland and the communities in which they operate so successfully.
4 | The Scottish Family Business Top 100
Key info
112,688 Top 100 family firms employ 112,688 people
16.3%
Top 100 family firms year on year turnover growth is 16.3%
Top 100 family firms create
£20 Billion turnover annually
Largest family business employer is City Facilities Management
Top 100 family firms in Scotland employ 948 more people this year Top 100 family firms generate
£1.3 Billion PBT Largest PBT reported by William Grant & Sons at £304 million
£3.9 Billion Arnold Clark Automobiles Limited has largest turnover of £3.9 billion
The Scottish Family Business Top 100 | 5
Executive Summary Family firms make a significant contribution to
Geographically, the impact of the Top 100 family
the Scottish economy and this research proves
firms is also important as they are having an
that family firms are significant employers,
impact on regional and rural economies across
revenue generators and contributors across
Scotland. Whilst, as we would expect, there are
Scotland.
significant clusters of family firms around the
Over 112,000 people are employed in the leading family firms in Scotland – a significant number of people going to work each and every day in businesses that are owned and/or run by families in business with many of these having been in the family for generations too. The impact goes further as many employees come from local families where generations of their
major cities, it is great to see the diversity of geographical spread. 42% of all those employed in the Top 100 are employed in Lanarkshire, with Glasgow being the main hub and employing significantly more people than Edinburgh in family firms, but it is great to see over 11,000 people employed in Dumfriesshire, 14,000 in Stirlingshire and 5,000 in Aberdeenshire too.
family have worked in the same family firm
Our Top 100 is based on Profit Before Tax as
too. Family firms clearly make a difference to
we try to understand the contribution that
communities across Scotland.
family firms are making. The research concludes that the Top 100 family firms in Scotland are generating ÂŁ1.3 billion PBT which represents 7% of their combined turnover.
6 | The Scottish Family Business Top 100
Some sectors are more dominant than others in the Top 100. Motor Retail, Food & Drink and the Construction sectors lead the way contributing around half of all the business listed. Many of the Top 100 family firms have also stood the test of time, managing to beat the challenge of ‘clogs to clogs in three generations’ and continue to plan for the future with a long term strategic view on preparing the business for future generations to continue to own and manage. The findings of the 2019 Top 100 Scottish Family Firms clearly demonstrates a strong sector that is continuing to perform well despite the prevailing uncertainties in the market place, a significant sector in terms of employment and wealth creation and one that deserves to be recognised for the contribution it makes to the Scottish economy.
Paul Andrews Founder, FBU Scotland
The Top 10 1. William Grant & Sons Group 2. Arnold Clark Automobiles The Top 100 Scottish
3. The Edinburgh Woollen Mill
Family Firms Contribute
4. James Jones & Sons 5. Community Wind Power
£20.0 Billion Turnover
6. D.C. Thomson & Company 7. Ian Macleod Distillers
112,688 Employees
8. Robertson Group Holdings 9. City Facilities Management
£1.3 Billion PBT
10. Klondyke Fishing Company
The Scottish Family Business Top 100 | 7
Family Businesses In Scotland Scotland’s largest family firms continue to be the driving force of the Scottish economy. In our third report into the Top 100 Scottish family firms, based on the latest filed financial statements for the leading family firms in Scotland, the results remain impressive and continue to demonstrate the significant impact that these organisations have. The leading family firms in Scotland generate a combined total turnover of £20.0 billion compared to £17.2 billion in 2018, an increase for the Top 100 of 16.3% year on year and they collectively employ 112,688 people. Profits reported based on Profit Before Tax have risen slightly from £1.1 billion to £1.3 billion, again demonstrating that family firms across Scotland make a major contribution to the income, wealth and employment across the nation.
The Scottish Family Business Top 100 Top 100 2019
Turnover
Published Top 100 2018*
% Change
£20.0bn £17.2bn 16.3%
Profit Before Tax
£1.3bn
£1.1bn
18.1%
Employees
112,688
111,740
1.2%
* Please note that the 2018 figures shown are those reported in the Top 100 Scottish Family Firms 2018 published report. Some firms have entered the Top 100 during 2019 and as such the comparative reported figures in the following pages include the actual 2018 figures for the companies listed in the report this year which will differ cumulatively from the published figures for 2018.
8 | The Scottish Family Business Top 100
The Scottish Family Business Top 100 2019 RANK
COMPANY NAME
LOCATION OF REGISTERED OFFICE
2019 PROFIT/ (LOSS) BEFORE TAX £m*
Moved up the rankings since 2018
NR New entry into the 2019 top 100 Moved down the rankings since 2018 Same position as 2018 2018 PROFIT/ (LOSS) BEFORE TAX £m*
2019 TURNOVER £m*
2018 TURNOVER £m*
2019 NUMBER OF EMPLOYEES*
£304.0
£260.2
£1,188.1
£1,061.7
2,371
2,113
£106.6
£125.4
£3,931.4
£3,662.5
11,427
10,672
2018 NUMBER OF EMPLOYEES*
01
William Grant & Sons Holdings Limited
Keith
02
Arnold Clark Automobiles Limited
Glasgow
03
The Edinburgh Woollen Mill (Group) Limited
Langholm
£81.2
£83.8
£935.8
£592.1
10,912
10,195
04
James Jones & Sons Limited
Larbert
£33.2
£34.2
£163.9
£141.3
731
653
05
Community Wind Power (Holdings) Limited
Edinburgh
£32.4
£10.15
£60.6
£37.4
40
38
06
D.C. Thomson & Company Limited
Dundee
£30.7
£38.1
£274.2
£277.0
2,029
2,122
07
Ian Macleod Distillers Limited
Broxburn
£25.5
£15.3
£102.9
£79.2
180
153
08 NR
Robertson Group Holdings Limited
Stirling
£24.3
£19.0
£713.4
£608.8
2,640
2,095
09
City Facilities Management Holdings Limited
Glasgow
£19.6
£15.7
£821.7
£617.7
11,992
11,844
10
Klondyke Fishing Company Limited
Fraserburgh
£19.5
£19.4
£28.5
£28.9
9
9
Renfrew
£18.5
£2.2
£88.8
£46.1
440
360
Stirling
£18.1
£13.3
£195.6
£175.7
7,125
6,416
Glasgow
£16.7
£17.1
£186.6
£175.0
1,713
1,566
Hamilton
£16.5
£21.8
£761.0
£777.0
1,914
1,847
Glasgow
£14.8
£2.9
£39.8
£28.5
4
4
11
Dusty TLP Limited
12
Castle View Ventures Limited
13
GAP Holdings Limited
14 15
Park’s of Hamilton (Holdings) Limited
NR
Crystal RIG II Limited
16
Mactaggart & Mickel Group Limited
Glasgow
£14.2
£12.7
£82.3
£74.3
277
278
17
Lunar Fishing Company Limited
Peterhead
£14.1
£23.2
£86.2
£82.0
279
283
18
James Walker (Leith) Limited
Livingston
£14.0
£12.5
£166.8
£164.6
618
626
19
Speymalt Whisky Distributors Limited
Elgin
£12.9
£4.0
£39.5
£28.3
154
156
20
R.J. Mcleod (Contractors) Limited
Glasgow
£12.2
£21.8
£87.8
£134.9
398
437
Glasgow
£12.1
£11.1
£660.3
£642.7
3,864
3,953
21
Farmfoods Limited
22
Advance Construction Group Limited
Bellshill
£10.8
£3.1
£190.1
£205.2
1,403
1,383
23
The Insights Group Limited
Dundee
£10.0
£6.5
£53.5
£42.1
476
332
24
James Johnston & CO. of Elgin Limited
Elgin
£9.9
£6.2
£73.9
£68.8
956
989
Aberdeen
£9.9
£8.1
£153.1
£136.5
1,364
1,327
25
Dingbro Limited
The Scottish Family Business Top 100 | 9
The Scottish Family Business Top 100
2019 RANK
26 27 28 29 NR 30
COMPANY NAME
G1 Group (Holdings) PLC Eastern Holdings Limited Wemyss Development Company Ltd. The C C G (Holdings) Limited Jacobs & Turner Limited
LOCATION OF REGISTERED OFFICE
2019 PROFIT BEFORE TAX £m*
2018 PROFIT/ (LOSS) BEFORE TAX £m*
2019 TURNOVER £m*
2018 TURNOVER £m*
2019 NUMBER OF EMPLOYEES*
2018 NUMBER OF EMPLOYEES*
Glasgow
£9.9
£7.0
£123.6
£73.0
1,832
1,485
Broxburn
£9.6
£9.5
£606.3
£550.0
1,224
1,129
Edinburgh
£9.5
£2.6
£34.7
£28.7
2,116
2,117
Glasgow
£9.1
£6.4
£144.2
£135.8
626
615
Glasgow
£8.9
£4.1
£114.3
£99.4
1,702
1,634
31
Caledonian Heritable Limited
Edinburgh
£8.7
£10.2
£45.3
£46.1
893
844
32
Scottish Leather Group Limited
Bridge Of Weir
£8.4
£8.8
£145.6
£144.5
661
646
Stirling
£8.2
£6.3
£349.5
£319.9
1,040
991
Westhill
£8.0
Edinburgh
£7.8
£10.5
£68.9
£65.0
848
775
33 34 NR 35
J.W. Galloway Limited Stewart Milne Homes Central Scotland Limited Apex Hotels Limited
£66.8
36
James Donaldson & Sons Limited
Glenrothes
£7.7
£7.8
£153.6
£136.6
767
694
37 NR
W.A. Baxter & Sons (Holdings) Limited
Edinburgh
£7.3
-£0.6
£337.9
£296.7
1,586
1,463
38
Peter Vardy Holdings Limited
Glasgow
£7.3
£10.1
£450.2
£438.4
857
799
39
John Clark (Holdings) Limited
Aberdeen
£7.0
£8.2
£741.8
£702.8
1,262
1,206
40
The Malcolm Group Limited
Paisley
£6.8
£15.8
£213.0
£225.7
2,157
2,155
41 NR
Orion Engineering Services Limited
Inverness
£6.7
£1.0
£290.0
£293.4
262
326
Stirling
£6.6
£12.3
£260.0
£204.6
2,154
1,927
42
Forth Holdco Limited
43
Scott Group Investments Limited
Dunfermline
£6.2
£5.2
£148.7
£128.3
1,214
997
44
Gray & Adams Holdings Limited
Fraserburgh
£6.2
£9.7
£138.7
£148.3
715
731
Glasgow
£6.1
£2.7
£188.8
£184.5
268
261
45 NR
Ethigen Limited
46 NR
J & D Pierce (Contracts) Ltd.
Beith
£6.1
£9.8
£52.1
£50.7
47
Albert Bartlett Holdings Limited
Airdrie
£6.1
£7.0
£154.5
£170.9
777
783
48
E.G. Thomson (Holdings) Limited
Edinburgh
£5.9
£7.9
£59.3
£56.3
1,680
1,593
49
Balhousie Holdings Limited
Perth
£5.9
£3.7
£41.0
£36.8
64
1,334
Stirling
£5.8
£5.3
£236.9
£269.4
634
551
50
Ogilvie Group Limited
10 | The Scottish Family Business Top 100
2019 RANK
51 52 NR 53 54 55 56 57
COMPANY NAME
Meallmore Limited Markey Holdings Limited Glenrath Farms Ltd. Leiths (Scotland) Limited Hillhouse Estates Limited Peoples Limited Mccurrach UK Ltd.
LOCATION OF REGISTERED OFFICE
2019 PROFIT BEFORE TAX £m*
2018 PROFIT/ (LOSS) BEFORE TAX £m*
2019 TURNOVER £m*
2018 TURNOVER £m*
2019 NUMBER OF EMPLOYEES*
£3.7
£48.8
£43.1
1,578
2018 NUMBER OF EMPLOYEES*
Inverness
£5.6
Glasgow
£5.5
West Linton
£5.5
£6.4
£53.3
£52.6
220
216
Aberdeen
£5.5
£9.3
£71.6
£71.7
577
562
Troon
£5.4
£9.6
£44.6
£52.9
178
178
Falkirk
£5.3
£6.2
£274.4
£276.6
400
411
Glasgow
£5.2
£7.2
£53.6
£56.7
1,297
1,416
£40.5
1,520
319
58 NR
Allied Holdings (UK) 2014 Limited
Glasgow
£5.1
£7.0
£138.6
£131.5
643
593
59
Walkers Shortbread Limited
Aberlour
£5.1
£12.9
£143.1
£138.7
1,478
1,459
60
East Coast Viners (Holdings) Limited
Stonehaven
£4.9
£3.9
£49.1
£45.3
83
83
61
Balmoral Group Holdings Limited
Aberdeen
£4.7
£18.6
£86.6
£105.6
468
518
Aberlour
£4.7
£8.9
£46.8
£58.0
386
404
Glasgow
£4.7
£3.9
£61.1
£60.6
598
586
Cupar
£4.7
£2.5
£138.4
£128.3
1,169
1,158
Thornhill
£4.6
£5.9
£53.2
£54.5
911
951
62 63 64 65
Forsyths Limited John G. Russell (Transport) Limited Kettle Produce Limited Klondyke Group Limited
66
Scot JCB (Holdings) Limited
Glasgow
£4.4
£4.1
£135.4
£119.1
274
240
67
Tillicoultry Quarries Limited
Glenrothes
£4.3
£7.0
£53.7
£56.7
154
144
Edinburgh
£4.2
£2.9
£29.9
£36.7
173
234
Blairgowrie
£4.1
£3.4
£40.5
£38.4
381
374
Glasgow
£4.0
£4.0
£58.1
£52.6
577
547
68 69 70
Granfit Holdings Limited Walter Davidson & Sons Limited Thomas Tunnock Limited
71
Peffermill Holdings Limited
Edinburgh
£4.0
£2.6
£30.0
£27.2
193
239
72
Zonal Retail Data Systems Limited
Edinburgh
£3.7
£4.0
£53.3
£54.2
479
451
73
DI Maggio’s Group Limited
Glasgow
£3.7
£5.3
£36.8
£34.9
876
771
74
Mackays Stores Group Limited
Renfrew
£3.6
£3.3
£174.2
£165.6
1,556
1,523
Turriff
£3.6
£3.7
£119.1
£108.9
479
446
75
The Harbro Group Ltd.
The Scottish Family Business Top 100 | 11
The Scottish Family Business Top 100
2019 RANK
76 77
COMPANY NAME
LOW Holdings (Scotland) Limited Slater Menswear
LOCATION OF REGISTERED OFFICE
2019 PROFIT BEFORE TAX £m*
2018 PROFIT/ (LOSS) BEFORE TAX £m*
2019 TURNOVER £m*
2018 TURNOVER £m*
2019 NUMBER OF EMPLOYEES*
2018 NUMBER OF EMPLOYEES*
Dundee
£3.5
£1.8
£50.7
£47.8
284
280
Glasgow
£3.5
£3.4
£26.0
£25.2
318
305
78
Richard Austin Alloys Limited
Glasgow
£3.4
£4.1
£148.6
£116.8
248
237
79
Muir Group Public Limited Company
Inverkeithing
£3.3
£4.0
£65.4
£74.7
280
276
Edinburgh
£3.2
£8.5
£42.4
£42.5
116
109
Aberdeen
£3.2
£2.8
£41.1
£32.3
67
65
Currie
£3.1
£2.2
£92.3
£76.8
154
148
80 81 NR 82
Loch Duart Limited Sco-Bere Seafoods (Holdings) Limited SWL Limited
83
Robertson Metals Holdings Ltd
Inverkeithing
£3.1
£3.3
£34.6
£27.3
35
34
84 NR
D. Geddes (Farms) Limited
Arbroath
£3.1
£2.6
£25.4
£22.9
244
238
85
Raimes, Clark & Company, Limited
Edinburgh
£3.0
£2.1
£32.3
£28.1
280
255
Perth
£3.0
£3.1
£87.6
£44.2
316
261
Stonehaven
£3.0
£5.7
£55.7
£53.9
322
321
Burntisland
£2.9
£1.9
£58.3
£49.8
667
669
Glasgow
£2.8
£2.6
£46.2
£41.9
61
57
Aberdeen
£2.7
£2.9
£33.1
£30.9
358
344
Earlston
£2.6
-£2.1
£304.0
£286.5
1,245
1,262
86 NR 87 NR 88 89 90 NR 91 NR
Morris Leslie Limited Macphie Limited Briggs Commercial Limited Noel Kegg Limited Mcpherson Limited BSW Timber Limited
92
McAlpine & Company Limited
Glasgow
£2.4
£3.5
£64.6
£60.1
768
751
93 NR
Laing Glasgow Holdings Limited
Glasgow
£2.4
£1.6
£30.0
£15.6
141
60
94
Dundas Chemical Company (Mosspark) Limited
Dumfries
£2.4
£2.2
£28.8
£26.1
164
159
Glasgow
£2.3
£1.7
£45.5
£39.7
1,419
1,277
95
AG Restaurants Ltd
96
Quality Food Products (Aberdeen) Limited
Aberdeen
£2.3
£2.0
£29.1
£30.4
70
73
97 NR
Morris & Spottiswood Limited
Glasgow
£2.3
£1.3
£80.8
£67.9
391
386
98
Chisholm Hunter Holdings Limited
Glasgow
£2.2
£2.5
£36.7
£36.0
268
291
99 NR
Whitelink Seafoods Limited
Fraserburgh
£2.2
£0.4
£117.7
£74.0
187
185
100
Cameron Group (Perth) Limited
Perth
£2.1
£2.2
£92.1
£92.8
183
176
12 | The Scottish Family Business Top 100
The Scottish Family Business Top 100 | 13
The Top 100 By Economic Sector The diversity and strength in depth in the sectors represented in the Top 100 Scottish Family Firms continues. Some sectors remain stronger than others in terms of the overall mix with Motor retail, Food & Drink, Property & Construction and the Retail sectors featuring prominently. They represent 54 of the top 100 and account cumulatively for 73% of total turnover, 56% of employees and 66% of PBT. Clearly, these four sectors are of significant importance to the Scottish economy overall.
Sector
2019 No. firms
2018 2019 No. Turnover firms (£m)
2018 Turnover (£m)
2019 2018 2019 PBT (£m) PBT (£m) Employees (No.)
2018 Employees (No.)
Motor Retail
9
8
£7,149.1
£6,661.3
£170.5
£187.2
19,346
16,809
Food & Drink
22
17
£3,779.7
£3,107.8
£460.2
£362.0
16,564
20,656
Property & Construction
23
21
£3,653.4
£1,764.4
£195.6
£130.8
27,602
12,540
Retail
7
8
£1,363.1
£977.5
£104.6
£102.9
14,958
13,557
Transport & Logistics
5
5
£514.1
£718.4
£23.2
£33.3
4,994
4,423
Hospitality
8
6
£466.5
£421.1
£55.5
£34.2
7,262
8,314
Manufacturing
4
9
£296.1
£732.9
£27.1
£76.5
2,176
5,138
Timber
4
5
£713.9
£570.0
£46.6
£60.2
2,897
2,405
Pharmaceuticals
4
1
£302.7
£37.0
£19.2
£2.5
993
345
Other
14
20
£1,716.6
£2,186.0
£151.1
£147.4
15,896
27,553
Total
100
100 £19,955.2
£17,176.4
£1,253.6
£1,137.0
112,688
111,740
14 | The Scottish Family Business Top 100
Turnover Current Year by Sector (£m) 8.6%
Total = £19,955.2
Other £1,716.6
6.8% Retail £1,363.1
3.6% Timber £713.9
35.8% Motor Retail £7,149.1
2.6% Transport & Logistics £514.1
2.3% Hospitality £466.5
1.5% Pharmaceuticals £302.7
1.5% Manufacturing £296.1
18.9% Food & Drink £3,779.7
18.4% Property & Construction £3,653.4
The Motor Retail sector remains the dominant sector contributing significantly to the total revenue of the Top 100, representing 35.8% of total turnover (38.8% last year). Clearly Food & Drink at 18.9% and Property & Construction at 18.4% of total turnover respectively are key family business sectors represented in the Top 100.
The Scottish Family Business Top 100 | 15
2019 PBT by Sector (£m)
36.7%
2019 Employees by Sector
24.5%
17.1% 15.6% 14.7% 13.6%
14.1%
12.1% 8.3% 4.4% 3.7% 2.2% 1.9% 1.5%
13.3% 6.4% 4.4% 2.6% 2.0% 0.9%
Food & Drink £460.2
Hospitality £55.5
Property & Construction £195.6
Timber £46.6
Motor Retail £170.5 Other £151.1 Retail £104.6
Manufacturing £27.1 Transport & Logistics £23.2 Pharmaceuticals £19.2
Total = £1,253.6
Property & Construction 27,602 Motor Retail 19,346 Food & Drink 16,564 Other 15,896 Retail 14,958
Hospitality 7,262 Transport & Logistics 4,994 Timber 2,897 Manufacturing 2,176 Pharmaceuticals 993
Total = 112,688
When it comes to employment, the property & construction sector is the largest employer at 27,602 people which represents 18.5% of the total employed by the Top 100. This sector also generates the most profit amongst the leading family firms in Scotland too.
16 | The Scottish Family Business Top 100
The Scottish Family Business Top 100 | 17
James Johnston & Co. of Elgin Limited Key info
956 number of employees
Turnover
£73.9 Million
At the heart of every compelling story lies a narrative and Johnstons of Elgin is no different. Since 1797, the Johnstons of Elgin signature innovation and quality have been without compare. The Johnston family name has always been synonymous with craft, patience, elegance and luxury. A byword for innovation and benchmark-setting, over the past 222 years, Johnstons of Elgin has defined and redefined the industry, again and again. It’s impeccable credentials stem from a mastery of the yarn and how its craftspeople handle, finesse and manipulate it in ways impossible for any other manufacturing brand to match. Unrivalled technical expertise as manufacturers creates unique possibilities, which, in turn, open up uncharted avenues for the most masterful creations. Johnstons of Elgin’s pioneering history established its luxury credentials and the company’s determination not to stand still carries it perpetually forward. The Johnstons of Elgin creative vision drives its brand ambition. A vision grounded in timeless, classic references such as art, history, architecture and nature that are constantly redefined for contemporary culture through design, craft and innovation. Whilst seasons and influences may change, one constant remains; the quest for beauty and luxury. Johnstons of Elgin creates desirable products which include woven accessories, knitwear, fabrics for apparel and for the home, all designed to resonate with its customers. Precious objects of real beauty
18 | The Scottish Family Business Top 100
Head office Elgin
24 1797 2019 Top 100 ranking
founded
that have great personal meaning in today’s disposable culture. Products to move and pieces to fall in love with. Johnstons of Elgin does this by forging its own path, not by following fads; being aware of trends without pandering to them. Applying a wealth of considerable creative expertise and exploration, designing unique, precious products rooted in imagination, not mania. The Johnstons of Elgin story is one of a family-run business spanning two centuries of tradition and expertise, which originates in the heart of Scotland and takes in the couture houses and catwalks of Paris, London and Milan, the sartorial excellence of Savile Row and beyond. But this has been and continues to be no ordinary British manufacturing story. Johnstons of Elgin has successfully established a flagship store at 77 New Bond Street in London, with further retail presence in Elgin, Hawick, St Andrews and Nantucket. This is a story of a brand simultaneously living within this world and transcending it. A story rooted in innovation, passion and timeless beauty. An everlasting labour of love that has brought Johnstons of Elgin to where it is today and that will continue to shape all of its tomorrows.
James Donaldson & Sons Limited Key info
767 number of employees
Turnover
£153.6 Million
Head office Glenrothes
36 1860 2019 Top 100 ranking
James Donaldson & Sons Ltd (JDS) is a successful family business which celebrated its 150th anniversary in 2010. JDS has grown to become one of the UK’s leading independent processors, manufacturers, merchant and distributors of timber and related products. Originating from one small branch in Tayport, Fife, today JDS has over 750 employees across 28 sites in the UK.
founded
What being a family Business means to us? “Being an independent family business runs right through our mission, vision and values so means everything to us. We do however try to hold ourselves to PLC standards meaning we get the best of both worlds – ultimate professionalism with a family feel.” Michael Donaldson, 6th Generation
The JDS Group comprises of a range of companies including timber importer and distributor James Donaldson Timber Ltd, engineered wood product manufacturer Donaldson Timber Engineering Ltd, timber merchant MGM Timber (Scotland) Ltd, insulation specialist James Donaldson Insulation Ltd, and Nu-Style Products Ltd, a fabrication specialist.
The Scottish Family Business Top 100 | 19
Walkers Shortbread Limited Key info
1,478 number of employees
Turnover
ÂŁ143.1 Million
Walkers Shortbread was founded in the Highlands of Scotland in 1898 and is now run by the third and fourth generation of the Walker family.
59 1868 2019 Top 100 ranking
It started life as a village bakery and because of the quality of its pure butter shortbread it has grown consistently over very many years. Walkers now employ more than 1,500 people in Speyside, and are very proud of their dedicated local workforce of long term employees. Although it stays very close to its roots in beautiful Speyside, Walkers products are now distributed in around 100 countries and is a flagship of Scottish foods with more than 45% of its production exported. The company is the only UK ambient food producer to have been awarded the Queens Award for Export Achievement on four occasions and holds the Royal Warrant for the supply of shortbread and oatcakes to Her Majesty Queen Elizabeth.
20 | The Scottish Family Business Top 100
Head office Aberlour
founded
The Scottish Family Business Top 100 | 21
The Geographical Spread Of Family Firms The statistics stand alone and clearly demonstrate that whilst there are obvious concentrations around the major urban centres, the Top 100 family firms are spread throughout Scotland and make an impact across the country in the communities in which they are based. 2019 Firms (No.)
2018 Firms (No.)
2019 Turnover (£m)
2018 Turnover (£m)
2019 PBT (£m)
2019 Employees (No.)
2018 Employees (No.)
Lanarkshire
31
29
£9,031.9
£8,501.1
£328.6
£314.2
47,621
47,902
Aberdeenshire
13
9
£1,713.4
£1,410.1
£88.8
£86.7
5,649
5,234
Midlothian
12
13
£886.9
£561.2
£93.0
£69.0
8,558
7,223
Fife
7
8
£652.6
£643.2
£32.1
£34.2
4,286
5,175
Stirlingshire
7
6
£2,193.7
£1,387.4
£101.5
£77.5
14,724
10,949
Angus
4
3
£403.8
£370.0
£47.3
£48.2
3,033
2,738
Renfrewshire
4
4
£621.6
£582.0
£37.3
£30.0
4,814
4,684
Banffshire
3
3
£1,378.0
£1,252.5
£313.8
£278.8
4,235
3,952
Dumfriesshire
3
3
£1,017.0
£672.7
£88.1
£91.9
11,987
11,305
Perthshire
3
6
£169.2
£277.4
£13.0
£14.9
761
2,449
West Lothian
3
5
£876.1
£1,006.7
£49.1
£45.0
2,022
5,800
Ayrshire
2
2
£96.8
£89.6
£10.0
£13.4
178
421
Inverness-shire
2
1
£338.8
£43.2
£12.2
£3.7
1,840
1,520
Kincardineshire
2
2
£104.8
£79.0
£7.8
£7.0
405
206
Morayshire
2
2
£113.3
£97.1
£22.9
£10.3
1,110
1,145
Berwickshire
1
0
£304.0
£0.0
£2.6
£0.0
1,245
0
Peeblesshire
1
1
£53.3
£52.6
£5.5
£6.4
220
216
Clackmannanshire
0
2
£0.0
£83.0
n/a
£3.9
n/a
779
East Lothian
0
1
£0.0
£67.4
n/a
£1.9
n/a
42
100
100
£19,955.2
£17,176.2
£1,253.6
£1,137.0
112,688
111,740
Region
22 | The Scottish Family Business Top 100
2018 PBT (£m)
Number of firms by Geographic Region 31 firms
13 firms
12 firms
7 firms
7 firms
Lanarkshire
Aberdeenshire
Midlothian
Fife
Stirlingshire
4 firms
4 firms
3 firms
3 firms
3 firms
Angus
Renfrewshire
Banffshire
Dumfriesshire
Perthshire
3 firms
2 firms
2 firms
2 firms
2 firms
West Lothian
Ayrshire
Inverness-shire
Kincardineshire
Morayshire
1 firm
1 firm
0 firms
0 firms
Berwickshire
Peeblesshire
East Lothian
Clackmannanshire
The Scottish Family Business Top 100 | 23
Turnover by Geographic Region (% and £m)
45.3%
5.0%
3.1%
0.8%
>0.1%
Lanarkshire £9,031.9
Dumfriesshire £1,017.8
Renfrewshire £621.6
Perthshire £169.2
Peeblesshire £53.3
11.0%
4.4%
2.0%
0.1%
>0.1%
Stirlingshire £2,193.7
Midlothian £886.9
Angus £403.8
Morayshire £113.3
Clackmannanshire £43.2
8.6%
4.3%
1.7%
0.1%
0.0%
Aberdeenshire £1,713.4
West Lothian £876.1
Inverness-shire £338.8
Kincardineshire £104.8
East Lothian £0.0
6.9%
3.2%
1.5%
>0.1%
Banffshire £1,378.0
Fife £652.6
Berwickshire £304.0
Ayrshire £96.8
24 | The Scottish Family Business Top 100
PBT by Geographic Region (% and £m)
26.2%
3.9%
0.1%
Lanarkshire £328.6
West Lothian £49.1
Inverness-shire £12.2
25.1%
3.8%
0.1%
Banffshire £313.8
Angus £47.3
Ayrshire £10.0
8.1%
3.0%
0.1%
Stirlingshire £101.5
Renfrewshire £37.3
Kincardineshire £7.8
7.6%
2.6%
>0.1%
Midlothian £93.0
Fife £32.1
Peeblesshire £5.5
7.4%
1.9%
>0.1%
Aberdeenshire £88.8
Morayshire £22.9
Berwickshire £2.6
7.0%
1.0%
Dumfriesshire £88.1
Perthshire £13.0
Employees by Geographic Region 42.2%
Lanarkshire
13.0%
Stirlingshire
10.6%
Dumfriesshire
7.6%
Midlothian
5.2%
Aberdeenshire
4.3%
Renfrewshire Fife
3.8%
Banffshire
3.7% 2.7%
Angus West Lothian Inverness-shire Berwickshire
1.8% 1.6% 1.1%
Morayshire
0.1%
Perthshire
0.1%
Kincardineshire
0.0%
Peeblesshire
0.0%
Ayrshire
0.0%
Clackmannanshire
n/a
East Lothian
n/a
Total 112,688
The Scottish Family Business Top 100 | 25
Top 10 Turnover In terms of revenue, the 10 largest family
The Edinburgh Woollen Mill is a significant
businesses in Scotland generate £10.8 billion
retailer specialising in clothing, along with
annually (53,9% of the total of the Top 100)
interests in homewares and destination
and are significant contributors in terms of
shopping for tourists and continues to generate
employment and income generation too.
significant turnover, as does City Facilities
The contribution of family firms across Scotland reinforces their importance and with five of the top ten in the motor sector, this clearly highlights the importance of the motor sector to the economy as well.
Management which when founded back in 1985 sought to ‘make a positive change in the facilities management industry.’ Lord and Lady Haughey founded their enterprise on the values of collaboration and transparency, replacing client/contractor relationships with long-term,
Revenue from the top ten also continues to rise
mutually beneficial partnerships. Each partner
having grown 32% since the report was first
received a unique strategy, shaped by the needs
published in 2016 (comparative figures from our
of the business and implemented by a bespoke,
inaugural report)
self-delivered model. It is this focus that has
Arnold Clark Automobiles, the independently owned family car dealership leads the way with the largest turnover in the Top 100 Scottish
allowed the City Group to grow from its humble beginnings into one of the world’s most trusted facilities management companies.
Family Firms at £3.9 billion. As a business they
Park’s of Hamilton completes the top five with
are significantly larger in terms of turnover than
a turnover of £761 million. Founded in 1971 as a
any other family firm, representing 19.7% of the
bus and coach operation by Douglas Park, the
total turnover generated cumulatively by the Top
business has grown to become one of Scotland’s
100 family firms in Scotland. They also remain the
largest and most successful motor groups,
largest business in Scotland as reflected recently
operating a diverse portfolio of luxury, niche
in the published results of The Sunday Times Top
and volume franchises from various locations
Track 100.
throughout Scotland.
Second in terms of turnover are William Grant & Sons, the independent family owned distiller that was founded back in 1887 by William Grant who at that time had a dream to make the ‘best dram in the valley,’ which, five generations later, still holds true.
26 | The Scottish Family Business Top 100
2019 Top 10 Turnover £m
2018 Top 10 Turnover £m
£3,931.4
£3,662.4
William Grant & Sons Group Limited
£1,188.1
£1,061.7
The Edinburgh Woollen Mill (Group) Limited
£935.8
£592.1
City Facilities Management Holdings Limited
£821.7
£617.7
Park’s of Hamilton (Holdings) Limited
£761.0
£777.1
John Clark (Holdings) Limited
£741.8
£702.8
Robertson Group Holdings Limited
£713.4
£608.8
Farmfoods Limited
£660.3
£642.7
Eastern Holdings Limited
£606.3
£550.0
Peter Vardy Holdings Limited
£450.2
£438.4
£10,810.0
£9,653.7
Company Name
Arnold Clark Automobiles Limited
* New entry into the top 10 in 2018 so figures for prior years not included ** Roberston Group were reported previously in the published report as they were in the top ten
The Scottish Family Business Top 100 | 27
Top 10 Employers The top 10 largest family business employers in
The third largest employer is The Edinburgh
Scotland employ 56,758 people (50.1% of the
Woollen Mill, the retail business based in
total of the Top 100) and are amongst the key
Edinburgh which is closely involved in every
employers in the country. Top of the list is City
aspect of the product development cycle
Facilities Management Limited, the Glasgow
from the processing of raw material, through
based facilities and maintenance business that
production of the yarn and cloth through to the
was established by Lord and Lady Haughey
design and manufacture of the garments that
and has grown to become one of the largest
are sold through their shops.
privately owned businesses in its sector across the UK, Europe and Australia.
“Family business employment is crucial to Scotland” Fourth largest employer is Castle View Ventures, a privately owned business founded by Frank Bell in 1964 and still owned and managed by the Bell family. Since starting out in 1964 as a contract catering company they have grown to become a group of highly diverse businesses. Today Castle View is helmed by Martin Bell, Frank’s son, but their core purpose remains the same, ‘to provide all kinds of businesses with a management service which is precisely tailored to their individual needs. Although the company has
Top 10 total employees
Other Top 100 employees
grown in size, the service provided is as personal as it ever was, never forgetting that success depends upon clients’ satisfaction.”
Coming second in terms of employment is Arnold Clark Automobiles which has come a long way since starting out back in 1954 in Glasgow with just one garage. The business now employs 11,427 people and is one of the largest car dealer groups in Europe.
28 | The Scottish Family Business Top 100
Completing the top five family business employers are Farmfoods Limited who have served the nation for over 60 years. From a single butchers shop in Aberdeen they have grown to a nationwide operator with more than 300 stores and four distribution centres nationwide.
Family firms are significant employers
fathers, mothers, grandfathers and, in some
across Scotland and as well as providing
cases, generations before them and there is
jobs and incomes they are intrinsically linked
a real sense of pride within these families for
to the communities in which they operate,
the businesses with which they are historically
something the impact of which should never
connected as a family. Family firms look after
be underestimated. In many instances these
their staff too and family business employments
family firms have been around for generations
is clearly crucial to Scotland.
and as the businesses have grown, so have the numbers employed, helping the local and regional economies significantly. It is not uncommon to find families where current employees are standing in a workplace that
Family firms across Scotland are significant employers throughout the country, a fact that needs to be appreciated more widely, supported where possible and never, ever forgotten.
was once the provider of employment to the
Company Name
2019 Number of Employees
2018 Number of Employees
Change
City Facilities Management Holdings Limited
11,992
11,844
148
Arnold Clark Automobiles Limited
11,427
10,672
755
The Edinburgh Woollen Mill (Group) Limited
10,912
10,195
717
7,125
6,416
709
Farmfoods Limited
3,864
3,953
-89
Robertson Group Holdings Limited
2,640
2,095
545
William Grant & Sons Group Limited
2,371
2,113
258
The Malcolm Group Limited
2,157
2,155
2
Forth Holdings Limited
2,154
1,927
227
Wemyss Development Company Ltd. The
2,116
2,117
-1
56,758
53,487
3,271
Castle View Ventures Limited
The Scottish Family Business Top 100 | 29
Conclusion This third year of our research into the family business sector in Scotland clearly reinforces the previous findings and continues to demonstrate the contribution that family firms make to the Scottish economy simply and effectively. Research like this helps to demonstrate the importance of family firms to key decision makers and influencers, helping to dispel the myths that surround the family business space and reinforcing their importance to communities the length and breadth of Scotland, helping to quantify their importance and the financial benefits they generate. Family firms in Scotland are significant and need to be recognised as such. Not just in terms of the employment, wealth creation and income but for the broader implications they have too. Brand and heritage are clearly important differentiators when it comes to international trade and exports benefit when there is a story to tell, a history and a heritage that can be seen in the brand, and the family ownership and involvement shines through. Family firms help to generate revenues internationally and clearly help to put Scotland on the map. They are also crucial to the development of the economy as a whole, clearly having active roles in many of the towns and villages in which they operate and providing a role that goes way beyond a financial one. Family firms invest in their staff and the community and are often giving back to the areas that have helped them become what they are today, a key role to helping many rural and less well regarded areas to survive. This research is important as it proves that family firms are truly the engine room of the Scottish economy and contribute significantly to the prosperity of the nation. Family firms are clearly large businesses in Scotland, significant employers and major contributors to the economy, locally, regionally and nationally and deserve to be recognised for their endeavours. Family firms employ thousands of people and make a difference to towns, cities and rural communities on a daily basis and it is important that the statistics generated in this report make it into the public arena, to help people appreciate and recognise the sector for all the good it does and to help those responsible for shaping policies going forward make sure that the sector gets the support it deserves.
30 | The Scottish Family Business Top 100
Methodology This report has been compiled using data that is
As well as fulfilling the above criteria, we have
available from Companies House and has been
undertaken significant desktop analysis and
analysed with the help of Dr Claire Seaman,
contacted numerous family firms during the
the Professor in Enterprise & Family Business
course of this research to validate their status
at Queen Margaret University, Edinburgh. As
and in doing so have compiled the Top 100
there are no mandatory requirements for family
Scottish Family Businesses with the utmost of
owned businesses when it comes to financial
best intentions.
reporting, nor internationally accepted definitions for a family business, we have devised a robust methodology for use in the compilation of this report.
In compiling this research into the largest family businesses in Scotland the team at FBU Scotland have used various means to make it as comprehensive and accurate as possible.
First and foremost, in terms of defining what is a
However, due to the fact that there is no legal
family business, we have based the research on
requirement to disclose the status of underlying
the fact that “A family-owned business may be
ownership in businesses in the UK, it is not an
defined as any business in which two or more
easy process and we cannot unequivocally say
family members are involved and the majority of
that there are not a few other great Scottish
ownership or control lies within a family.”
family firms out there.
Furthermore:
In the event of any error or omission, we are
• We have based our report on the latest
more than happy to update our data and
annual financial statements available for each
to ensure that any omissions are rectified in
company from Companies House
subsequent versions of this report.
• We have only looked at companies who file their accounts with companies house • We have not looked at companies who have filed accounts for a period of one year or less • We have looked at companies who have filed their latest accounts within the past 24 months • Turnover is greater than £25m • At least one single shareholder (or shareholder group, such as a trust) holds 25% of the shares of the business • The registered office of the business is in Scotland.
The Scottish Family Business Top 100 | 31
Our Sponsor And Supporters Research of this nature could not be possible without the support of our sponsor and partners:
Sponsor
Carbon Financial Partners Limited is one of the UK’s leading independent financial planning, pensions and investment advice firms. We can make this claim based on the quality of the team, our awards, our ethics and our professionalism. At Carbon, the rule is to put our clients’ interests first at all times. We will explain clearly what we can do for you, set out the benefits to you and agree a price for the work with you before we proceed. That way you can weigh up the benefits to you and the cost of the advice so you can make a fully informed decision about whether to proceed. Our advice should be worth considerably more than the fees to be paid. As well as our offices in Edinburgh, Aberdeen and Perth, we have consulting rooms in Glasgow and London.
Partners We would also like to extend our thanks and appreciation to the following people and organisations who have helped in the compilation of this report: Professor Claire Seaman, Queen Margaret University Paul Bready, Craig Corporate Limited Paul Andrews, Family Business United and FBU Scotland
32 | The Scottish Family Business Top 100
About FBU Scotland FBU Scotland is an unparalleled rallying point and voice for the Scottish family business community and an invaluable source of insight into the sector, providing resources for family businesses across Scotland, whatever their size, sector or age. Founded by Paul Andrews who has over
owners, factory tours, networking receptions
20 years experience of championing family
and the flagship events of Scottish Family
firms across the UK and beyond. Supported
Business Week.
by the award-winning magazine and resource centre at www.familybusinessunited.com, FBU Scotland has created an innovative community that affords family business owners, directors and employees the opportunity to meet likeminded individuals, to explore ways of dealing with specific issues, to benefit from access to the best articles and insights from around
Voice Our annual Scottish family business survey has been designed to give Scottish family firms a voice, to share their concerns and aspirations and to share the current ‘pulse of the family business sector’ with advisers, intermediaries and decision makers.
the world, and to be part of a community and
Engagement
representative as part of the voice for Scottish
Social media is here to stay and we actively
family firms too.
embrace it to champion the sector, celebrate
Education Throughout the year FBU Scotland hosts a number of educational events on topics of
the success of family firms and to promote the contribution made by family firms across Scotland.
relevance specifically to the family business
Membership
sector, with academic partners, aimed at
We offer a membership package that provides
disseminating knowledge, sharing best practice
many benefits including a monthly ebulletin,
and providing a forum to learn and address
invitations to member events, social media
specific aspects of family and/or business
engagement and access to discounted member
governance.
rates for our key events too.
Events
FBU Scotland is the home of Scottish family
Recognising the value that family businesses
business.
gain from networking and meeting fellow business owners, we arrange a calendar of events to meet this need – dinners, meet the The Scottish Family Business Top 100 | 33
Contact Us Paul Andrews Founder & Managing Director FBU Scotland Stirling House 226 St. Vincent Street Glasgow G2 5RQ
Become a member of the innovative family business community today. Contact us for more information
07718 001179
paul@familybusinessunited.co.uk
@ScotlandFBU and @FamilyBizPaul
www.familybusinessunited.com
34 | The Scottish Family Business Top 100
Financial planning for the Family Business Owner For peace of mind, try Carbon’s
www.carbonfinancial.co.uk @carbonfinancial
facebook.com/carbonfp The Scottish Family Business Top 100 | 35
familybusinessunited.com 36 | The Scottish Family Business Top 100
