Frank Recruitment has been named as one of the UK’s fastest growing companies by profit growth after hitting the £15m mark in three years.
The recruitment specialist came 77th in the annual Sunday Times BDO Profit Track league table, which tracks the profit growth of Britain’s private companies over three years.
Newcastle-headquartered Frank specialises in IT recruitment and places candidates in companies such as Microsoft, Dynamics, Netsuite, and Salesforce.
The firm made the league table after its profits soared to £15m and achieved an average growth of 63% per year.
Frank Recruitment appears in the list along with a host of major businesses including domestic appliance designed Gtech, bottled drinks manufacturer Radnor Hills, and gym operator PureGym.
The North East as a whole fared less well in its inclusion in the list, with Frank Recruitment being the only firm in the region to make the cut. In 2016 four North East businesses were named in the index.
Competition to make it onto the list was fiercer than in previous years with the minimum rate of profit growth needed to secure a place rising to 57% per annum. In past years 45% growth was usually enough to make the list.
In April last year, Frank Recruitment was acquired by American investor TPG Growth, which has been used by celebrities such as Ashton Kutcher and Bono to invest money.
TPG purchased a majority share of Frank Recruitment for an undisclosed some bu the transaction was understood to value the company at just under £200m.