The businesses blending tradition with rapid growth

C. Hoare & Co

C. Hoare & Co is, by some distance, the oldest company in the Growth 500. When the goldsmith Sir Richard Hoare opened a shop on Cheapside in the City of London in 1672, Charles II was on the throne, Isaac Newton had just made the first identification of the primary colours of visible light and war had been declared on the Dutch Republic.

Hoare’s goldsmith shop quickly evolved into a bank and Hoare was soon knighted, became Lord Mayor of London and was elected an MP for the City. Over the years, the bank has amassed an impressive roster of clients, most of which choose to remain private but have included Samuel Pepys, Jane Austen and Lord Byron.

More than 350 years on, it has survived plagues, wars, market crashes and a “disastrous” seventh generation that amassed huge debts and almost brought it to ruin. Now, however, the bank is arguably in ruder health than ever. Still owned by eight of Hoare’s direct descendants (one of whom is 12th generation) it has seen revenues grow by 265 per cent over the past three years, fuelled by its “conservative approach” to banking and “adaptability and agility”, according to chairman Lord Macpherson.

In an interview with Spears, its former CEO Alexander Hoare says “enough profits will flow” as long as it remains focused on the right things. “What a lot of organisations do is they set a profit target and figure out how they’re going to hit it. And that’s completely not going to give optimal results.”

WHS Plastics

WHS Plastics is a fourth-generation family business, having been founded in 1933 by William Henry Smith. The Birmingham-based company has marked some impressive milestones, including expanding into Egypt and opening a 75,000sq ft logistics and warehousing operation.

The company now has the largest machine moulding capacity in the UK, with a specialisation in automotive parts. As group managing director Paul Nicholson told Manufacturing Today: “Anything that is plastic we can do: bumpers, interior trim, under bonnet, engine covers. You name it, we do it.”

Nicholson credits its success to two main things: its location in the heart of the Midlands and its staff. As a family business, it prides itself on its culture and making the company feel like one big family.

That has helped the company through the hard times. During Covid, it was forced to shut down for a few weeks but was soon back through a partnership with Jaguar Land Rover to manufacture face shields. In 2023, the acquisition of Xandor Plastics meant it became a £200m group with more than 1,700 staff and revenues growing by 197 per cent over the past three years.

Howard Ventures

Howard Group is now a property developer and venture investor – but that wasn’t always the case. Founded in 1935 by Jimmy Howard, it was originally a coal and coke delivery business. Its operations expanded during the Second World War to include the manufacture of building blocks and it diversified further into engineering, warehousing, retail and transport.

It established its property group in 1985, developing sites including the St John’s Retail Park in Bedford. It moved into residential investments in 2015 with the purchase of Spillers Mill in Cambridge and has since ramped up its activities. It has been involved in projects including the transformation of the former Lloyds Bank building at 95 Regent Street in Cambridge, redevelopment of the Elizabeth and Juno Way industrial estates in Lewisham, London, and Unity Campus in Sawston, Cambridge.

A third-generation, family-owned business, it is currently run by Nicholas Bewes. Its venture capital business has invested more than £6m in small businesses including Koalaa, which aims to make prosthetics more accessible and affordable, the digital mapping company Edozo, and mOm Incubators, which makes inflatable infant incubators.

Revenues are up 621 per cent over the past three years, suggesting its focus on investing for the long term is paying off.