Two Pembrokeshire businesses have been named among the top 50 fastest-growing in Wales.

Fast Growth 50 released its 25th annual fastest growing businesses in Wales list recently.

Two Pembrokeshire businesses - Ascona Group and Genpower, both from Pembroke Dock, featured among the top 50 list.

The Ascona Group is a Pembrokeshire-based forecourt operator, while Genpower is the exclusive distributor for Hyundai Power Products in the UK and Ireland, and globally for JCB power products, whose headquarters are based in Pembroke.

Collectively, the 50 firms on the list generated a turnover of £880 million in 2022.

In the last two years, they employed more than 4000 people, while also creating over 200 new jobs which Fast Growth 50 was no mean feat "at a time when employment in Wales has remained flat".

Founder Fast Growth 50, Professor Dylan Jones-Evans OBE, said: “As the awards that Welsh businesses want to win more than any other, the Wales Fast Growth 50 serves as a benchmark for growth and innovation in the private sector.

"But the Wales Fast Growth 50 is more than just a list of successful companies; it is a testament to the power of entrepreneurial spirit and a catalyst for business growth and innovation across Wales.

"By recognising the achievements of these scale-up companies every year, the Fast Growth 50 is not only highlighting individual business success but providing valuable insights and inspiration for the broader business community.”

Top 50 fastest-growing businesses in Wales

  1. Au Vodka (Swansea) - 688.3% growth rate (2020 - 2022)
  2. Involve Rail (Pontypridd) - 210.4%
  3. Castell Construction (Swansea) - 181.4%
  4. Bearmont Group (Llandudno) - 162.9%
  5. Cleverchefs (Cardiff) - 257.7%
  6. Sero (Cardiff) - 151.2%
  7. Hoop Recruitment (Cardiff) - 147.5%
  8. Ramsay & White (Cardiff) - 139.2%
  9. Town Square Spaces (Caerphilly) - 120.8%
  10. Central FM Radio (Ebbw Vale) - 120%
  11. Zip World (Llanrwst) - 116.4%
  12. Sport Tape (Caerphilly) - 111.5%
  13. Brand Hatchers (Cardiff) - 108%
  14. Tollgate Engineering Services (Port Talbot) 102.1%
  15. Stable Resources (Cardiff) - 101.5%
  16. Edenstone Holidays (Caldicot) - 101.3%
  17. ACAI Outdoorwear (Deeside) - 97.3%
  18. RGM Security (Swansea) - 89.6%
  19. Chetwood Financial (Wrexham) - 89.1%
  20. Trakcel (Cardiff) - 83.7%
  21. Pure Wealth Management (Cardiff) - -74.2%
  22. SL Recycling (Hengoed) - 74.1%
  23. Purecyber (Cardiff) - 73.1%
  24. Jones' Village Bakery (Wrexham) - 72.1%
  25. Ascona Group (Pembroke Dock) - 69.9%
  26. Creo Mecical (Chepstow) - 69.7%
  27. Educate Resourcing (Wrexham) - 64.1%
  28. Edlio (Cardiff) - 64.1%
  29. Fsew (Cardiff) - 60.4%
  30. Nutrivend (Pontyclun) - 60.3%
  31. Lexington Corporate Finance (Cardiff) - 58.9%
  32. Curon Wealth Management (Bridgend) - 57.3%
  33. Passport to Employment (Pontypridd) - 57.1%
  34. Laser Wire Solutions (Pontypridd) - 55.8%
  35. Webbox Digital (Cardiff) - 55.4%
  36. Genpower (Pembroke Dock) - 55.2%
  37. Cellar Drinks Company (Crickhowell) - 54.8%
  38. City Energy Network (Cardiff) - 54.5%
  39. K&C Group [NW] (St Asaph) - 52.3%
  40. Bibado (Carmarthen) - 52.2%
  41. Rhymney Brewery (Pontypool) - 51.7%
  42. United Worldwide Logistics (Bridgend) - 51%
  43. ALS Managed Services (Hengoed) - 50.8%
  44. Trojan Group (Pontypridd) - 47.6%
  45. Ickle Bubba (Swansea) - 47.3%
  46. BFL Engineering (Bridgend) - 46.5%
  47. Energist (Swansea) - 45.7%
  48. HSG Facilities Management (Cardiff) - 45.5%
  49. Hartland Fire (Bridgend) - 44.8%
  50. Carbon Zero Group (St Asaph) - 43.2%

Fast Growth 50 Wales 2023 awards

As well as the fastest growing business in Wales award, which was won by Au Vodka, there were several other accolades handed out by Fast Growth 50:

Fastest Growing Consumer Products Firm: Au Vodka

Fastest Growing Consumer Wholesale and Retail Service Firm: Zip World

Fastest Growing Recruitment Services Firm: Involve Rail

Fastest Growing Construction and Building Services Firm: Castell Group

Fastest Growing Green Firm: Sero

Fastest Growing Business to Business Firm: Cleverchefs

Fastest Growing Finacial Services Firm: Ramsay & White

Fastest Growing Technology and Digital Firm: Stable

Fastest Growing North Wales Firm: Bearmont Group

Fastest Growing Cardiff Firm: Cleverchefs

Fastest Growing International Firm: Brand Hatchers