Norwich business named among Europe's fastest growing companies

Cladspray Solutions

Cladspray Solutions was named one of Europe's fastest-growing companies - Credit: Cladspray Solutions

A Norwich-based company has been named among the fastest-growing companies in Europe.

Cladspray Solutions, a commercial spraypainting company, ranked 570 on a list of 1,000.

It is one of only 155 UK-based companies included on the list.

The list of 1,000 was compiled by the Financial Times and research company Statista using data from 2017 to 2020.

The list comprises of the companies in Europe that achieved the highest percentage growth over the period.

The 2022 report is Cladspray's first appearance on the list, not having ranked in 2020 and 2021.

A spokeswoman from Cladspray said: "A massive thank you to our incredible team, customers, families, and friends who made this possible – too many to mention but you all know who you are.”

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The companies revenue went from 499,000 in 2017 to 1.86million in 2020, an increase of 270pc.

Cladspray Solutions, which was established in 2013, had an absolute growth rate of 276pc and a compound annual growth rate of 55pc.

Its employee number also triple in the period, from four in 2017 to 12 in 2020.