Press Release - 30th January 2020
Total Motion has been named among Leicestershire’s top 50 fastest growing mid-sized businesses in a new report by accountancy and business advisory firm BDO LLP.
Based at Meridian Business Park in Leicester, the vehicle management company came in at number 21 after seeing an average growth in turnover of 24% over the past two years.
This increase was achieved against an extremely challenging background for the UK motor industry, with business confidence affected by Brexit uncertainty and a fall-off in the use of company cars.
However, the restructuring of Total Motion’s senior management team and other recent developments, including the launch of personal leasing unit, Pink Car Leasing, is giving managing director Simon Hill much cause for optimism.
He said: “Pink has gone from zero to 2,000 customers in seven months, and on the traditional side of our business, managing corporate fleets, we’re aiming for annual growth of around 15% to take us to the £20m mark.
“We’ve overcome our financing challenges and have doubled the amount of business we can write. This has put us in a stronger position to grow our core business over the next couple of years as fleet managers take advantage of incentives to buy electric vehicles.”
Simon said he was pleased to see Total Motion’s achievements recognised in the report – along with the business advantages of being a Leicestershire-based company.
He added: “As both a national and increasingly international business with offices in Spain and Northern Ireland, Total Motion benefits from Leicestershire’s central location and growing profile. The city has an image now it didn’t have.”
Leicestershire’s fastest-growing mid-sized businesses generated combined revenues surpassing £2.1bn in their respective last reported financial year, according to the BDO report.
Vinod Patel, head of corporate finance-transaction services at BDO LLP in the East Midlands, who led the report said: “Leicestershire has a wide range of companies that truly embody the diversity of the region. These are the businesses driving economic growth and leading ground-breaking discoveries. Businesses are investing and are themselves, invested in the county. Space Park Leicester is a true example of this as it is set to transform the regional economy by contributing £715m and 2,500 jobs once completed.
“My home county is also working hard at attracting a new generation of tourists and developing a strong cultural and leisure offer for residents, especially in the wake of the exhumation and reinternment of Richard III, and Leicester City Football Club winning the Premier League title in recent years. Both are a huge coup for the county and present us with the opportunity to create a stronger identity for Leicestershire in the UK and internationally.”