The Wales Fast Growth 50 2026 has revealed the fastest-growing indigenous firms in Wales, which together have added £431m of new economic activity over the last two years. Launched in 1999, the list features companies whose combined turnover rose from £327m in 2023 to £759m in 2025, more than doubling in size in just two years.
Welsh firms outperform the rest of the UK
Many of the companies on this year's list also feature on the UK Fast Growth Index, which ranks the fastest-growing 350 companies across seven UK nations and regions. According to Professor Dylan Jones-Evans, founder of Wales Fast Growth 50 and UK Fast Growth Index, the Welsh firms are outperforming the rest of the UK.
“They are not just keeping pace with the rest of the UK; they are outperforming it and whilst Wales accounts for roughly one in twenty UK businesses, 30 of the UK’s 200 fastest-growing firms are Welsh,” he said. The typical Welsh firm on the index grew by 159% faster than its counterparts in the North of England, Scotland and Northern Ireland.
Cardiff aviation specialist AerMach leads the list, having grown almost elevenfold to £43m in just two years. Professor Jones-Evans highlighted the breadth of success across Wales, from AI software testers in Cardiff to a haircare brand born on TikTok in Pembrokeshire and a bike lock maker in Swansea.
Staying power and future growth
Tollgate Engineering, Castell Group and Sporttape have appeared on the UK Fast Growth Index four years in a row, while eight more firms have made it three years running. Eighteen of the Welsh 50 already have turnover above £10m, with CMB Engineering having passed £100m.
Professor Jones-Evans said the next opportunity is to help more firms grow even larger, with the right support, patient growth capital, experienced leadership talent, and public-sector backing. He added: “The talent, the ideas and the ambition are already here, and these 50 businesses prove it and the task for our politicians and policymakers is to make their success the norm, not the exception.”
Top of the list
AerMach (Cardiff) leads with growth of 996.1% between 2023 and 2025, shipping jet engine parts to every continent for customers including Lufthansa, GE and MTU. FleetEV (Cardiff) grew 794.9%, helping councils across Wales electrify their fleets, while TiQtoQ (Cardiff) grew 625.3%, supporting the National Lottery’s technology overhaul since 2022.
Other notable entries include Lovetovisit (579.5%), Innovative Care (386.2%), Flotek Group (361.2%), and Site Guardian Group (307.5%). The list also features businesses such as Litelok, whose patented Barronium armour defeats angle grinders, and Sporttape, worn by Team GB at the London 2012 Olympics.
