Leeds-based debt purchasing specialist Lowell Group has been placed second in a league table of Britain’s 100 private equity-backed companies with the fastest growing profits.

The third annual Sunday Times Deloitte Buyout Track 100 league table, was published in the Sunday Times on 08 February 09.

The table is based on the latest two years of available figures, with August 2008 being the latest financial year end from which audited figures are available.

Lowell Group’s profits have risen 120% a year from £4.3m in 2006 to £20.6m in 2008.

Chief executive officer James Cornell led a secondary buyout of Lowell Group, backed by Exponent Private Equity, in April 2008.

James Cornell commented:

We are delighted to be seen as a private equity success story. Private equity investment has been fundamental to Lowell Group’s growth and success, in terms of management support as well as finance. We have an excellent relationship with Exponent and are confident we can continue to deliver sector-leading results in the future. 

Lowell Group’s performance has received industry-wide recognition. In November 2007 the company was named ‘Debt Purchaser of the Year’ at a national debt industry awards event and in March 2008 it was recognised as one of the UK’s fastest growing businesses after being named ‘VC-backed business of the year’ in the Fast Growth Business Awards 2008.

Chief Executive Officer James Cornell was the Yorkshire Institute of Directors ‘Young Director of the Year 2007’ and Chief Operating Officer Andrew Bartle was awarded the ‘Developing the Team’ award at the 2008InstituteofCredit Management Awards.