The 24th Sunday Times Virgin Atlantic Fast Track 100 league table ranking Britain’s private companies with the fastest growth was published this weekend. 19 companies headquartered in the southeast of England won places on the table, including 11 new entrants.
On the list for the first time was facilities management service provider, Pareto FM, a company founded in 2014 by Andrew Hulbert. Hulbert, who previously worked for facilities management company Bilfinger, started the company from his bedroom, and has now grown it into a £14.1 million business (up to September 2019), seeing an impressive annual sales growth over three years of 58.51%.
Pareto FM focuses on technical facilities management and bundled facilities management solutions with a head office in Oxford. Its clients span a range of industries and the more than 175-strong team work with some of the world’s leading brands, including Deliveroo, Virgin Media and Amnesty International. Tagged by the trade press as a ‘positive disruptor’ to the FM sector, Pareto FM has a core focus on social value and regularly launches and leads on initiatives to drive change both within and outside of its industry.
Earlier in 2020, Pareto FM founded the #FM10, a free virtual running event to tackle mental health fatigue during lockdown and in 2015, co-founded social enterprise ‘Tomorrow Meet Today’ to promote diversity in the facilities management industry through mentoring and an annual events programme.
Pareto FM appears on the list alongside other impressive businesses from around Britain, including BrewDog, the brewers, and fitness clothing brand Gymshark, both valued at more than £1bn. Past star alumni include chip designer ARM, which featured in 1997 with sales of £16.7m and is in the process of being bought by American technology giant Nvidia for £31bn, and drinks maker Fever-Tree, which floated in 2014 at £154m and is now worth £3bn.
Andrew Hulbert, founder and managing director, has said: “To be recognised as part of the Sunday Times Fast Track 100 is a genuine privilege. We are honoured to be mentioned in the same breath as some of the most inspirational brands in the world. Brands that we aspire to be like. This accolade recognises the exceptional talent we have in our team and underpins our mission to continue positively disrupting the Facilities Management sector.
Being a risk taker with an entrepreneurial spirit, leading the changing rhetoric that shrouds the traditional, operationally driven industry has been an experience. As an industry we must recognise the age gap within FM as the ticking time bomb and take action. We need to be able to build services for these incredible workspaces that they are delivering services to. And who better to assist millennial companies in this endeavour, than millennials themselves? The future of the industry starts with a will to drive a more innovative, strategically aligned mission to deliver exceptional places of work.
This accolade recognises the size, scale and significance of the industry and the opportunity it has to drive strategic goals and productivity for all businesses. It demonstrates the growing relevance of FM as a great career and the opportunity the sector has to strategically shape the organisations it serves.”