ONE of Britain’s fastest-growing private equity-backed firms is set to hit turnover of £320m this year after beatings its targets.
IT supplier Kelway, which is based in the City and has consultants in the United Arab Emirates, is on course to continue a run of double digit growth for the year to March 2012.
Recently filed accounts for 2010-11 show Kelway Holdings turned over of £260.87m, up from £178.14m. Operating profit rose to £8.5m, up from £6.57m and the pre-tax surplus was £7.92m, up from £6.4m.
Managing director Dan Laws said: “We are in a strong position to continue to grow our market share and win high value long-term contracts.”
The firm was set up in 1990 and its services include procurement, consultancy and networks. It now plans to invest more in technology and to build a new services centre.
Kelway was one of the top 20 private equity-backed firms with the fastest growing profits, according to this year’s Sunday Times Buyout Track 100. Core Capital owns a 25 per cent stake.