Fokhrul Islam wins LDC and Telegraph Top 50 Most Ambitious Business Leader as turnover increases by nearly 50% year-onyear to reach £44m.
In its third year, the LDC Top 50 Most Ambitious Business Leaders (in partnership with The Telegraph newspaper) recognises inspiring leaders behind the UK’s most successful, mediumsized businesses. This year there were over 350 nominations.
Fu (to friends and colleagues) was selected as the outright winner, following rigorous judging sessions throughout 2020. Having set the energy management specialist up in 2013, Fu has driven expansion across three continents – Europe, US and Asia – with offices in the UK, France, US, Malta and India.
Global Procurement Group (GPG) has consistently built its customer base, reaching 20,000 customers today, and grown its headcount to over 700. The global group develops technologies that help businesses better manage their energy; cutting costs, consumption and carbon. Its UK arm, Northern Gas and Power, has offices in Gateshead, Newcastle and Leeds and is soon to move into a stunning, new waterfront location on Gateshead quays.
CEO, Fu, said “I’m extremely grateful to have been selected for this top award – it’s an honour. It’s been an exceptionally challenging year and I’d like to thank my global team for all their amazing efforts, day-in, day-out. “Despite the tough conditions, we are continuing to expand across the globe, growing our headcount and customer base. I’m very grateful for this recognition and would like to thank LDC and also congratulate everyone involved in this Top 50 process.”
The midmarket is the linchpin of the nation’s economy: the firms profiled in this year’s Top 50 employ more than 5,250 people and collectively contribute more than £1bn to the economy. Judges said Fu demonstrated a dogged determination to realise his vision and has a proven track record for achieving growth, both at home and overseas. They were particularly impressed with the energy management technologies, helping customers of all sizes reduce their energy consumption and costs.
John Garner, from leading private equity firm, LDC said “LDC has supported ambitious business leaders for 40 years. We’re here because we like to champion success. They are all winners, so deciding on the Most Ambitious was a tough task for our judges, but Fokhrul’s dogged determination, attention to detail, and the sacrifices he has made to achieve success really set him apart.”
This positive news follows other recent high-profile wins, including Fu being named Scale Up entrepreneur of the year (North East) in the Great British Entrepreneur awards. Northern Gas and Power was also highlighted by Glassdoor for its work-life balance culture, coming second across the entire country beating of competition from the likes of Google and Sky Gaming/Betting. GPG has turned out to be one of the most successful B2B energy solution providers across the UK and France.
GPG’s revenue has grown at 40% p.a. from 2017 to 2020.
The latest accounts show GPG’s turnover has grown by
48% to £44m for the year ended 2019. Revenue growth
has been strong across all markets GPG operate in, with
particularly strong growth in the relatively new French and
US markets. GPG entered the French market in 2014 and
has grown revenues in this short time to account for 16%
of the group’s total revenue by 2020. French revenues are
growing at over 110% p.a. from 2017 and 2020.
The business is expected to deliver EBITDA of £31m in 2020 (46% EBITDA margin), vs. £14m in 2019 (32% EBITDA margin).
Despite the challenges presented by Covid-19, 2020 has seen sustained and continued growth, proving to be an extremely strong year for the group. It has delivered 2020 YTD group revenues of £52m and is projected to finish 2020 with a total of £67m, demonstrating a 56% increase over 2019 figures.
GPG’s headcount has surpassed 700 this year and Q1
next year it is set to move into its new HQ RIGA Building,
a stunning custom-built Gateshead-waterfront office
complex, taking 4 floors at 30,000 sq. ft.
2021 will see UK headcount continue to grow with
allocation at Riga for 300 additional people; with the group’s
global headcount set to grow to around 1,000 heads.
In January this year, Energies France took on a new 13,000
sq. ft. Paris office in prime central location, and the
continued rapid expansion has seen the current French
location approaching capacity. A larger office move is
scheduled for Q2 April 2021, allowing GPG to grow the
operation by a further 150 people in France – doubling its
current headcount.
GPG has also launched a price comparison website targeting
micro-businesses: Business Energy Quotes in the UK and
Energie Supermarche in France (both launched in Feb 2020).
This online, technology-enabled proposition has allowed for
the expansion of its customer base to now include the micro
SME sector, a sector which has historically been untapped
by the group.
Through its subsidiary ClearVUE Systems, GPG has also launched its cloud-based, energy management software and hardware solution, allowing B2B customers to monitor energy consumption and work towards a NET Carbon Zero Future. This specialist sector for the Energy
Monitoring Systems market represents an estimated £500m
opportunity for the group across the UK and France. The
market is forecasted to grow at 10% p.a. and the group
hopes to gain a leading market share through is proprietary
technology solutions.
