Top 100 The 2019 Scottish Family Business - Sponsored by - Family Business United
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The 2019 Scottish Family Business Sponsored by Top 100 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
businesses, over 112,000 people are employed.
In our third report into the Top 100 family firms
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,
Family businesses have a story to tell and all of
and to Scotland, and it is vital that policy
the firms listed in the Top 100 have a sense of
influencers and decision-makers understand their
real purpose, possibly driven by the aspirations
impact and support them too.
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
The numbers say it all – Major employers,
rural communities and an essential part of these
significance revenue generators and real assets
regional economies.
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 create
Top 100 family firms £20 Billion
employ 112,688 people turnover annually
Largest
family business
Top 100
16.3% employer is
family firms year
City Facilities
on year turnover Management
growth is 16.3%
Top 100 family firms in
Scotland employ 948 more
people this year
Top 100 family firms generate
£1.3 Billion PBT
£3.9 Billion
Largest PBT reported by Arnold Clark Automobiles
William Grant & Sons at Limited has largest turnover of
£304 million £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
major cities, it is great to see the diversity of
Over 112,000 people are employed in the leading
geographical spread. 42% of all those employed
family firms in Scotland – a significant number
in the Top 100 are employed in Lanarkshire, with
of people going to work each and every day
Glasgow being the main hub and employing
in businesses that are owned and/or run by
significantly more people than Edinburgh in
families in business with many of these having
family firms, but it is great to see over 11,000
been in the family for generations too. The
people employed in Dumfriesshire, 14,000 in
impact goes further as many employees come
Stirlingshire and 5,000 in Aberdeenshire too.
from local families where generations of their
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 £1.3 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 Published % Change
Top 100 2018*
Turnover £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 Moved up the rankings since 2018
NR New entry into the 2019 top 100
Business Top 100 Moved down the rankings since 2018
Same position as 2018
2019 2018
PROFIT/ PROFIT/ 2019 2018
LOCATION (LOSS) (LOSS) 2019 2018 NUMBER NUMBER
2019 OF REGISTERED BEFORE BEFORE TURNOVER TURNOVER OF OF
RANK COMPANY NAME OFFICE TAX £m* TAX £m* £m* £m* EMPLOYEES* EMPLOYEES*
01 William Grant & Sons Keith £304.0 £260.2 £1,188.1 £1,061.7 2,371 2,113
Holdings Limited
02 Arnold Clark Glasgow £106.6 £125.4 £3,931.4 £3,662.5 11,427 10,672
Automobiles Limited
03 The Edinburgh Woollen Langholm £81.2 £83.8 £935.8 £592.1 10,912 10,195
Mill (Group) Limited
04 James Jones & Sons Larbert £33.2 £34.2 £163.9 £141.3 731 653
Limited
05 Community Wind Power Edinburgh £32.4 £10.15 £60.6 £37.4 40 38
(Holdings) Limited
06 D.C. Thomson & Dundee £30.7 £38.1 £274.2 £277.0 2,029 2,122
Company Limited
07 Ian Macleod Distillers Broxburn £25.5 £15.3 £102.9 £79.2 180 153
Limited
08 NR Robertson Group Stirling £24.3 £19.0 £713.4 £608.8 2,640 2,095
Holdings Limited
09 City Facilities Management Glasgow £19.6 £15.7 £821.7 £617.7 11,992 11,844
Holdings Limited
10 Klondyke Fishing Fraserburgh £19.5 £19.4 £28.5 £28.9 9 9
Company Limited
11 Renfrew £18.5 £2.2 £88.8 £46.1 440 360
Dusty TLP Limited
12 Castle View Ventures Stirling £18.1 £13.3 £195.6 £175.7 7,125 6,416
Limited
13 Glasgow £16.7 £17.1 £186.6 £175.0 1,713 1,566
GAP Holdings Limited
14 Park’s of Hamilton Hamilton £16.5 £21.8 £761.0 £777.0 1,914 1,847
(Holdings) Limited
15 NR Glasgow £14.8 £2.9 £39.8 £28.5 4 4
Crystal RIG II Limited
16 Mactaggart & Mickel Glasgow £14.2 £12.7 £82.3 £74.3 277 278
Group Limited
17 Lunar Fishing Company Peterhead £14.1 £23.2 £86.2 £82.0 279 283
Limited
18 James Walker (Leith) Livingston £14.0 £12.5 £166.8 £164.6 618 626
Limited
19 Speymalt Whisky Elgin £12.9 £4.0 £39.5 £28.3 154 156
Distributors Limited
20 R.J. Mcleod (Contractors) Glasgow £12.2 £21.8 £87.8 £134.9 398 437
Limited
21 Glasgow £12.1 £11.1 £660.3 £642.7 3,864 3,953
Farmfoods Limited
22 Advance Construction Bellshill £10.8 £3.1 £190.1 £205.2 1,403 1,383
Group Limited
23 The Insights Group Dundee £10.0 £6.5 £53.5 £42.1 476 332
Limited
24 James Johnston & CO. Elgin £9.9 £6.2 £73.9 £68.8 956 989
of Elgin Limited
25 Aberdeen £9.9 £8.1 £153.1 £136.5 1,364 1,327
Dingbro Limited
The Scottish Family Business Top 100 | 9
The Scottish Family Business Top 100
2018
2019 PROFIT/ 2019 2018
LOCATION PROFIT (LOSS) 2019 2018 NUMBER NUMBER
2019 OF REGISTERED BEFORE BEFORE TURNOVER TURNOVER OF OF
RANK COMPANY NAME OFFICE TAX £m* TAX £m* £m* £m* EMPLOYEES* EMPLOYEES*
26 Glasgow £9.9 £7.0 £123.6 £73.0 1,832 1,485
G1 Group (Holdings) PLC
27 Broxburn £9.6 £9.5 £606.3 £550.0 1,224 1,129
Eastern Holdings Limited
28 Wemyss Development Edinburgh £9.5 £2.6 £34.7 £28.7 2,116 2,117
Company Ltd. The
29 NR Glasgow £9.1 £6.4 £144.2 £135.8 626 615
C C G (Holdings) Limited
30 Glasgow £8.9 £4.1 £114.3 £99.4 1,702 1,634
Jacobs & Turner Limited
31 Caledonian Heritable Edinburgh £8.7 £10.2 £45.3 £46.1 893 844
Limited
32 Scottish Leather Group Bridge Of Weir £8.4 £8.8 £145.6 £144.5 661 646
Limited
33 Stirling £8.2 £6.3 £349.5 £319.9 1,040 991
J.W. Galloway Limited
34 NR Stewart Milne Homes Westhill £8.0 £66.8
Central Scotland Limited
35 Edinburgh £7.8 £10.5 £68.9 £65.0 848 775
Apex Hotels Limited
36 James Donaldson & Sons Glenrothes £7.7 £7.8 £153.6 £136.6 767 694
Limited
37 NR W.A. Baxter & Sons Edinburgh £7.3 -£0.6 £337.9 £296.7 1,586 1,463
(Holdings) Limited
38 Peter Vardy Holdings Glasgow £7.3 £10.1 £450.2 £438.4 857 799
Limited
39 John Clark (Holdings) Aberdeen £7.0 £8.2 £741.8 £702.8 1,262 1,206
Limited
40 The Malcolm Group Paisley £6.8 £15.8 £213.0 £225.7 2,157 2,155
Limited
41 NR Orion Engineering Inverness £6.7 £1.0 £290.0 £293.4 262 326
Services Limited
42 Stirling £6.6 £12.3 £260.0 £204.6 2,154 1,927
Forth Holdco Limited
43 Scott Group Investments Dunfermline £6.2 £5.2 £148.7 £128.3 1,214 997
Limited
44 Gray & Adams Holdings Fraserburgh £6.2 £9.7 £138.7 £148.3 715 731
Limited
45 NR Glasgow £6.1 £2.7 £188.8 £184.5 268 261
Ethigen Limited
46 NR J & D Pierce (Contracts) Beith £6.1 £9.8 £52.1 £50.7
Ltd.
47 Albert Bartlett Holdings Airdrie £6.1 £7.0 £154.5 £170.9 777 783
Limited
48 E.G. Thomson (Holdings) Edinburgh £5.9 £7.9 £59.3 £56.3 1,680 1,593
Limited
49 Balhousie Holdings Perth £5.9 £3.7 £41.0 £36.8 64 1,334
Limited
50 Stirling £5.8 £5.3 £236.9 £269.4 634 551
Ogilvie Group Limited
10 | The Scottish Family Business Top 1002018
2019 PROFIT/ 2019 2018
LOCATION PROFIT (LOSS) 2019 2018 NUMBER NUMBER
2019 OF REGISTERED BEFORE BEFORE TURNOVER TURNOVER OF OF
RANK COMPANY NAME OFFICE TAX £m* TAX £m* £m* £m* EMPLOYEES* EMPLOYEES*
51 Inverness £5.6 £3.7 £48.8 £43.1 1,578 1,520
Meallmore Limited
52 NR Glasgow £5.5 £40.5 319
Markey Holdings Limited
53 West Linton £5.5 £6.4 £53.3 £52.6 220 216
Glenrath Farms Ltd.
54 Aberdeen £5.5 £9.3 £71.6 £71.7 577 562
Leiths (Scotland) Limited
55 Troon £5.4 £9.6 £44.6 £52.9 178 178
Hillhouse Estates Limited
56 Falkirk £5.3 £6.2 £274.4 £276.6 400 411
Peoples Limited
57 Glasgow £5.2 £7.2 £53.6 £56.7 1,297 1,416
Mccurrach UK Ltd.
58 NR Allied Holdings (UK) 2014 Glasgow £5.1 £7.0 £138.6 £131.5 643 593
Limited
59 Walkers Shortbread Aberlour £5.1 £12.9 £143.1 £138.7 1,478 1,459
Limited
60 East Coast Viners Stonehaven £4.9 £3.9 £49.1 £45.3 83 83
(Holdings) Limited
61 Balmoral Group Holdings Aberdeen £4.7 £18.6 £86.6 £105.6 468 518
Limited
62 Aberlour £4.7 £8.9 £46.8 £58.0 386 404
Forsyths Limited
63 John G. Russell Glasgow £4.7 £3.9 £61.1 £60.6 598 586
(Transport) Limited
64 Cupar £4.7 £2.5 £138.4 £128.3 1,169 1,158
Kettle Produce Limited
65 Thornhill £4.6 £5.9 £53.2 £54.5 911 951
Klondyke Group Limited
66 Scot JCB (Holdings) Glasgow £4.4 £4.1 £135.4 £119.1 274 240
Limited
67 Tillicoultry Quarries Glenrothes £4.3 £7.0 £53.7 £56.7 154 144
Limited
68 Edinburgh £4.2 £2.9 £29.9 £36.7 173 234
Granfit Holdings Limited
69 Walter Davidson & Sons Blairgowrie £4.1 £3.4 £40.5 £38.4 381 374
Limited
70 Glasgow £4.0 £4.0 £58.1 £52.6 577 547
Thomas Tunnock Limited
71 Peffermill Holdings Edinburgh £4.0 £2.6 £30.0 £27.2 193 239
Limited
72 Zonal Retail Data Systems Edinburgh £3.7 £4.0 £53.3 £54.2 479 451
Limited
73 DI Maggio’s Group Glasgow £3.7 £5.3 £36.8 £34.9 876 771
Limited
74 Mackays Stores Group Renfrew £3.6 £3.3 £174.2 £165.6 1,556 1,523
Limited
75 Turriff £3.6 £3.7 £119.1 £108.9 479 446
The Harbro Group Ltd.
The Scottish Family Business Top 100 | 11The Scottish Family Business Top 100
2018
2019 PROFIT/ 2019 2018
LOCATION PROFIT (LOSS) 2019 2018 NUMBER NUMBER
2019 OF REGISTERED BEFORE BEFORE TURNOVER TURNOVER OF OF
RANK COMPANY NAME OFFICE TAX £m* TAX £m* £m* £m* EMPLOYEES* EMPLOYEES*
76 LOW Holdings (Scotland) Dundee £3.5 £1.8 £50.7 £47.8 284 280
Limited
77 Glasgow £3.5 £3.4 £26.0 £25.2 318 305
Slater Menswear
78 Richard Austin Alloys Glasgow £3.4 £4.1 £148.6 £116.8 248 237
Limited
79 Muir Group Public Limited Inverkeithing £3.3 £4.0 £65.4 £74.7 280 276
Company
80 Edinburgh £3.2 £8.5 £42.4 £42.5 116 109
Loch Duart Limited
81 NR Sco-Bere Seafoods Aberdeen £3.2 £2.8 £41.1 £32.3 67 65
(Holdings) Limited
82 Currie £3.1 £2.2 £92.3 £76.8 154 148
SWL Limited
83 Robertson Metals Inverkeithing £3.1 £3.3 £34.6 £27.3 35 34
Holdings Ltd
84 NR D. Geddes (Farms) Arbroath £3.1 £2.6 £25.4 £22.9 244 238
Limited
85 Raimes, Clark & Company, Edinburgh £3.0 £2.1 £32.3 £28.1 280 255
Limited
86 NR Perth £3.0 £3.1 £87.6 £44.2 316 261
Morris Leslie Limited
87 NR Stonehaven £3.0 £5.7 £55.7 £53.9 322 321
Macphie Limited
88 Briggs Commercial Burntisland £2.9 £1.9 £58.3 £49.8 667 669
Limited
89 Glasgow £2.8 £2.6 £46.2 £41.9 61 57
Noel Kegg Limited
90 NR Aberdeen £2.7 £2.9 £33.1 £30.9 358 344
Mcpherson Limited
91 NR Earlston £2.6 -£2.1 £304.0 £286.5 1,245 1,262
BSW Timber Limited
92 McAlpine & Company Glasgow £2.4 £3.5 £64.6 £60.1 768 751
Limited
93 NR Laing Glasgow Holdings Glasgow £2.4 £1.6 £30.0 £15.6 141 60
Limited
94 Dundas Chemical Company Dumfries £2.4 £2.2 £28.8 £26.1 164 159
(Mosspark) Limited
95 Glasgow £2.3 £1.7 £45.5 £39.7 1,419 1,277
AG Restaurants Ltd
96 Quality Food Products Aberdeen £2.3 £2.0 £29.1 £30.4 70 73
(Aberdeen) Limited
97 NR Morris & Spottiswood Glasgow £2.3 £1.3 £80.8 £67.9 391 386
Limited
98 Chisholm Hunter Holdings Glasgow £2.2 £2.5 £36.7 £36.0 268 291
Limited
99 NR Whitelink Seafoods Fraserburgh £2.2 £0.4 £117.7 £74.0 187 185
Limited
100 Cameron Group (Perth) Perth £2.1 £2.2 £92.1 £92.8 183 176
Limited
12 | The Scottish Family Business Top 100The 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.
2019 2018 2019 2018 2019 2018 2019 2018
Sector No. No. Turnover Turnover PBT (£m) PBT (£m) Employees Employees
firms firms (£m) (£m) (No.) (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 & 23 21 £3,653.4 £1,764.4 £195.6 £130.8 27,602 12,540
Construction
Retail 7 8 £1,363.1 £977.5 £104.6 £102.9 14,958 13,557
Transport & 5 5 £514.1 £718.4 £23.2 £33.3 4,994 4,423
Logistics
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 100Turnover Current Year by Sector (£m)
8.6% Total = £19,955.2
Other
£1,716.6
6.8%
Retail
£1,363.1
35.8%
3.6% Motor Retail
£7,149.1
Timber
£713.9
2.6%
Transport &
Logistics
£514.1
2.3%
Hospitality
£466.5
18.9%
Food & Drink
£3,779.7
1.5%
Pharmaceuticals
£302.7 18.4%
Property &
1.5% Construction
Manufacturing £3,653.4
£296.1
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 | 152019 PBT by Sector (£m) 2019 Employees by Sector
36.7% 24.5%
17.1%
15.6%
14.7%
13.6%
14.1%
12.1%
8.3% 13.3%
4.4% 6.4%
3.7% 4.4%
2.2% 2.6%
1.9% 2.0%
1.5% 0.9%
Food & Drink Hospitality Property & Hospitality
£460.2 £55.5 Construction 7,262
27,602
Property & Timber Transport & Logistics
Construction £46.6 Motor Retail 4,994
£195.6 19,346
Manufacturing Timber
Motor Retail £27.1 Food & Drink 2,897
£170.5 16,564
Transport & Logistics Manufacturing
Other £23.2 Other 2,176
£151.1 15,896
Pharmaceuticals Pharmaceuticals
Retail £19.2 Retail 993
£104.6 14,958
Total = £1,253.6 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 100The Scottish Family Business Top 100 | 17
James Johnston
& Co. of Elgin Limited
Key info
956 Turnover Head office
number of £73.9 Million Elgin
employees
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
24 1797
2019 Top 100 ranking founded
family name has always been synonymous with
craft, patience, elegance and luxury. A byword for
innovation and benchmark-setting, over the past 222
that have great personal meaning in today’s
years, Johnstons of Elgin has defined and redefined
disposable culture.
the industry, again
and again.
Products to move and pieces to fall in love with.
Johnstons of Elgin does this by forging its own
It’s impeccable credentials stem from a mastery of
path, not by following fads; being aware of trends
the yarn and how its craftspeople handle, finesse
without pandering to them. Applying a wealth of
and manipulate it in ways impossible for any other
considerable creative expertise and exploration,
manufacturing brand to match.
designing unique, precious products rooted in
imagination, not mania.
Unrivalled technical expertise as manufacturers
creates unique possibilities, which, in turn, open
The Johnstons of Elgin story is one of a family-run
up uncharted avenues for the most masterful
business spanning two centuries of tradition and
creations. Johnstons of Elgin’s pioneering history
expertise, which originates in the heart of Scotland
established its luxury credentials and the company’s
and takes in the couture houses and catwalks of
determination not to stand still carries it perpetually
Paris, London and Milan, the sartorial excellence of
forward.
Savile Row and beyond.
The Johnstons of Elgin creative vision drives its
But this has been and continues to be no ordinary
brand ambition. A vision grounded in timeless,
British manufacturing story. Johnstons of Elgin has
classic references such as art, history, architecture
successfully established a flagship store at 77 New
and nature that are constantly redefined for
Bond Street in London, with further retail presence in
contemporary culture through design, craft
Elgin, Hawick, St Andrews and Nantucket.
and innovation.
This is a story of a brand simultaneously living
Whilst seasons and influences may change, one
within this world and transcending it. A story
constant remains; the quest for beauty and luxury.
rooted in innovation, passion and timeless beauty.
Johnstons of Elgin creates desirable products which
An everlasting labour of love that has brought
include woven accessories, knitwear, fabrics for
Johnstons of Elgin to where it is today and that will
apparel and for the home, all designed to resonate
continue to shape all of its tomorrows.
with its customers. Precious objects of real beauty
18 | The Scottish Family Business Top 100James Donaldson &
Sons Limited
Key info
767 Turnover Head office
number of £153.6 Million Glenrothes
employees
36 1860
2019 Top 100 ranking founded
James Donaldson & Sons Ltd (JDS) is a successful What being a family Business means to us?
family business which celebrated its 150th “Being an independent family business runs right
anniversary in 2010. JDS has grown to become through our mission, vision and values so means
one of the UK’s leading independent processors, everything to us. We do however try to hold
manufacturers, merchant and distributors of timber ourselves to PLC standards meaning we get the best
and related products. Originating from one small of both worlds – ultimate professionalism with
branch in Tayport, Fife, today JDS has over 750 a family feel.”
employees across 28 sites in the UK.
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 | 19Walkers Shortbread
Limited
Key info
1,478 Turnover Head office
number of £143.1 Million Aberlour
employees
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 founded
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 100The 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 2018 2019 2018 2019 2018 2019 2018
Firms Firms Turnover Turnover PBT PBT Employees Employees
Region (No.) (No.) (£m) (£m) (£m) (£m) (No.) (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
22 | The Scottish Family Business Top 100Number 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 | 23Turnover by Geographic Region (% and £m) 45.3% 5.0% 3.1% 0.8% >0.1% Lanarkshire Dumfriesshire Renfrewshire Perthshire Peeblesshire £9,031.9 £1,017.8 £621.6 £169.2 £53.3 11.0% 4.4% 2.0% 0.1% >0.1% Stirlingshire Midlothian Angus Morayshire Clackmannanshire £2,193.7 £886.9 £403.8 £113.3 £43.2 8.6% 4.3% 1.7% 0.1% 0.0% Aberdeenshire West Lothian Inverness-shire Kincardineshire East Lothian £1,713.4 £876.1 £338.8 £104.8 £0.0 6.9% 3.2% 1.5% >0.1% Banffshire Fife Berwickshire Ayrshire £1,378.0 £652.6 £304.0 £96.8 24 | The Scottish Family Business Top 100
PBT by Geographic Region (% and £m)
26.2% 3.9% 0.1%
Lanarkshire West Lothian Inverness-shire
£328.6 £49.1 £12.2
25.1% 3.8% 0.1%
Banffshire Angus Ayrshire
£313.8 £47.3 £10.0
8.1% 3.0% 0.1%
Stirlingshire Renfrewshire Kincardineshire
£101.5 £37.3 £7.8
7.6% 2.6% >0.1%
Midlothian Fife Peeblesshire
£93.0 £32.1 £5.5
7.4% 1.9% >0.1%
Aberdeenshire Morayshire Berwickshire
£88.8 £22.9 £2.6
7.0% 1.0%
Dumfriesshire Perthshire
£88.1 £13.0
Employees by Geographic Region
Lanarkshire 42.2%
Stirlingshire 13.0%
Dumfriesshire 10.6%
Midlothian 7.6%
Aberdeenshire 5.2%
Renfrewshire 4.3%
Fife 3.8%
Banffshire 3.7%
Angus 2.7%
West Lothian 1.8%
Inverness-shire 1.6%
Berwickshire 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 | 25Top 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
Management which when founded back in
The contribution of family firms across Scotland
1985 sought to ‘make a positive change in the
reinforces their importance and with five of the
facilities management industry.’ Lord and Lady
top ten in the motor sector, this clearly highlights
Haughey founded their enterprise on the values
the importance of the motor sector to the
of collaboration and transparency, replacing
economy as well.
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
allowed the City Group to grow from its humble
Arnold Clark Automobiles, the independently
beginnings into one of the world’s most trusted
owned family car dealership leads the way with
facilities management companies.
the largest turnover in the Top 100 Scottish
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 1002019 Top 10 2018 Top 10
Company Name Turnover £m Turnover £m
Arnold Clark Automobiles £3,931.4 £3,662.4
Limited
William Grant & Sons £1,188.1 £1,061.7
Group Limited
The Edinburgh Woollen £935.8 £592.1
Mill (Group) Limited
City Facilities Management £821.7 £617.7
Holdings Limited
Park’s of Hamilton £761.0 £777.1
(Holdings) Limited
John Clark (Holdings) £741.8 £702.8
Limited
Robertson Group Holdings £713.4 £608.8
Limited
Farmfoods Limited £660.3 £642.7
Eastern Holdings Limited £606.3 £550.0
Peter Vardy Holdings £450.2 £438.4
Limited
£10,810.0 £9,653.7
* 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 | 27Top 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 Other Top 100
grown in size, the service provided is as personal
total employees employees
as it ever was, never forgetting that success
depends upon clients’ satisfaction.”
Coming second in terms of employment is
Completing the top five family business
Arnold Clark Automobiles which has come
employers are Farmfoods Limited who have
a long way since starting out back in 1954 in
served the nation for over 60 years. From a single
Glasgow with just one garage. The business now
butchers shop in Aberdeen they have grown to a
employs 11,427 people and is one of the largest
nationwide operator with more than 300 stores
car dealer groups in Europe.
and four distribution centres nationwide.
28 | The Scottish Family Business Top 100Family 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
Family firms across Scotland are significant
the numbers employed, helping the local
employers throughout the country, a fact that
and regional economies significantly. It is not
needs to be appreciated more widely, supported
uncommon to find families where current
where possible and never, ever forgotten.
employees are standing in a workplace that
was once the provider of employment to the
2019 Number of 2018 Number of
Company Name Employees Employees Change
City Facilities Management 11,992 11,844 148
Holdings Limited
Arnold Clark Automobiles 11,427 10,672 755
Limited
The Edinburgh Woollen 10,912 10,195 717
Mill (Group) Limited
Castle View Ventures 7,125 6,416 709
Limited
Farmfoods Limited 3,864 3,953 -89
Robertson Group Holdings 2,640 2,095 545
Limited
William Grant & Sons 2,371 2,113 258
Group Limited
The Malcolm Group 2,157 2,155 2
Limited
Forth Holdings Limited 2,154 1,927 227
Wemyss Development 2,116 2,117 -1
Company Ltd. The
56,758 53,487 3,271
The Scottish Family Business Top 100 | 29Conclusion 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
In compiling this research into the largest
for a family business, we have devised a robust
family businesses in Scotland the team at FBU
methodology for use in the compilation of
Scotland have used various means to make it
this report.
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 | 31Our 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
Voice
centre at www.familybusinessunited.com, FBU
Our annual Scottish family business survey has
Scotland has created an innovative community
been designed to give Scottish family firms a
that affords family business owners, directors
voice, to share their concerns and aspirations
and employees the opportunity to meet like-
and to share the current ‘pulse of the family
minded individuals, to explore ways of dealing
business sector’ with advisers, intermediaries
with specific issues, to benefit from access
and decision makers.
to the best articles and insights from around
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
the success of family firms and to promote
Education
the contribution made by family firms across
Throughout the year FBU Scotland hosts a
Scotland.
number of educational events on topics of
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 | 33Contact 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 100Financial 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 | 35familybusinessunited.com 36 | The Scottish Family Business Top 100
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