North East businesses celebrated at 2025 Ward Hadaway Fastest 50 Awards

Now in its 27th year, the awards, held in partnership with The Journal, once again highlighted the drive, innovation and resilience of the region’s business community. The annual Fastest 50 recognises the region’s privately-owned companies that have achieved the greatest growth in turnover, a list objectively compiled from Companies House data.

The 2025 Ward Hadaway North East Fastest 50 illustrates the breadth and depth of the North East’s economy. Together, the 50 companies recorded a combined turnover of £1.7 billion, matching last year’s total despite a tougher economic climate. Average turnover growth stood at 41.97%, with an overall increase of £824 million between their first and latest accounts.

Opening the ceremony, Damien Charlton, Head of Commercial at Ward Hadaway, said: “The businesses represented here today are proof that growth never stands still. Every year new names emerge, yet the same qualities shine through – hard work, creativity and the confidence to invest in new ideas. It’s encouraging to see long-established names alongside ambitious new entrants. From clean-energy specialists and digital consultancies to recruitment and engineering firms, the region’s growth is being driven by a remarkable mix of talent and innovation. Whether in construction, technology, manufacturing or professional services, these companies are driving progress across the North East. Their success underpins jobs, investment and opportunity in every corner of the region.”

The overall 2025 Fastest 50 winner, and Medium Business of the Year, was Elite Energy, a Stockton-on-Tees based provider of energy-efficiency solutions. Their services include solar PV installations, air-source heat pumps, boiler upgrades, insulation and smart heating systems, often supported through government grant schemes. Over the past decade, they have grown from a regional heating installer to a full low-carbon retrofit specialist, leveraging ECO and other funding programmes to help households reduce both their carbon footprint and energy bills.

RE:GEN Group, which secured top spot in the large business category for the second year running, delivers large-scale housing regeneration and maintenance programmes for local authorities and housing associations across the region. Its continued growth reflects sustained investment in local jobs, training and social value initiatives within the communities it serves.

In the small business category, AJP Recruitment was named fastest-growing small business. Based in Newcastle, the company provides specialist recruitment services across construction, engineering and manufacturing, supporting regional employers with workforce expansion and skills development.

The keynote address was delivered by Dr Bill Scott OBE, founder and chief executive of Wilton Universal Group, who spoke about his journey from launching a small engineering business in Teesside in 1994 to building a successful multimillion pound enterprise operating across multiple sectors. His message focused on belief, persistence and the region’s potential to lead in clean energy and advanced manufacturing.

There are 16 small (turnover less than £10m), 19 medium (turnover between £10m and £35m) and 15 large (turnover over £35m) firms on this year’s list, employing more than 11,000 people across County Durham, Northumberland, Teesside and Tyne & Wear. Fourteen also featured in last year’s Fastest 50, while 23 have appeared in previous editions, showing how many businesses are sustaining growth year after year.

With an average growth rate above 40 per cent, this year’s Fastest 50 demonstrates that the North East’s business base remains both diverse and resilient. Construction and manufacturing continue to feature strongly, while technology, renewable energy and professional services are playing an ever-greater role in the region’s success.

Nick Gholkar, Executive Partner in Ward Hadaway’s Newcastle office, said: “The Fastest 50 is about more than numbers. It celebrates the spirit that defines the North East – businesses that are innovating, creating jobs and showing that ambition here has no limits. Growth doesn’t happen by accident. It takes persistence, leadership, enterprise and belief. The companies we’ve celebrated today show that the North East remains one of the most dynamic and determined regions in the UK.”

Elite Energy

Medium Business Winner and Overall Fastest Growing Business

“Our success comes down to the people behind the business. We’ve invested in a team that’s dynamic, adaptable and genuinely passionate about what we do. The renewable energy sector is moving fast and we’ve been able to grow by spotting opportunities early and responding quickly.

“The North East has a strong heritage of innovation and we’re proud to be part of its next chapter. Our clients have put their trust in us, and we repay that by staying true to our values and delivering great work every day. For me, the advice to any growing business would be simple – stay flexible, surround yourself with the right people and enjoy the journey.”

Rhys Davies, Finance Director at Elite Energy

RE:GEN

Large Business Winner

“Sustainability has always been at the heart of how we grow – not just in terms of the environment, but in building something lasting for our people, clients and communities. We’ve invested heavily in decarbonisation work across the region, helping households reduce energy use and carbon emissions, while creating new jobs and skills in emerging green industries.

“What’s most rewarding is that we’ve achieved rapid growth without losing sight of our values. We care about our people, we care about our clients and we care about the impact we have on the North East. That sense of purpose is what drives everything we do.”

Paul Flannigan, Director of People & Culture at RE:GEN

AJP Recruitment

Small Business Winner

“Our growth is entirely down to the people we have around us both in the office and out on site. We’ve got a small but incredibly dedicated team who’ve been with us for years and genuinely care about doing a great job for our clients and contractors.

“We work in a specialist sector where relationships really matter and I think that trust and consistency have been key to our success. Winning a Fastest 50 award is fantastic recognition for everyone involved.”

Andrew Paton, Managing Director at AJP Recruitment