Aberdeen-headquartered change management group The Fifth Business yesterday joined London Stock Exchange’s international business support and capital raising ecosystem, ELITE, as it prepares for ambitious growth targets over the next two years.
Founded in Aberdeen in 1993 and with offices in London, The Hague and Houston, The Fifth Business has won several new contracts in change management and training this year including Diageo, Tata Steel and Heathrow Airport, with its Dutch office doubling in employee numbers in just ten months and company is on track for revenues in excess of £6 million for 2017.
While the energy sector remains a key market for the group – whose activities centre on change management, staff engagement, e-learning and SharePoint solutions focused on the people side of change, The Fifth Business’ client list now boasts a range of FTSE 100 and Fortune 500 companies spanning broadcast media, automotive, pharmaceuticals, construction and engineering.
The Fifth Business’ acceptance to the ELITE programme has allowed the organisation to prepare for its next stage of growth through financing opportunities, training and investment and the senior team has targeted revenue growth of around 50% by 2020.
The Fifth Business co-founder and CEO Enda Logan, said: “It is a great honour to be on ELITE and join the ranks of other well known Scottish brands like BrewDog who have benefited so much from the programme. Over 24 years we have built a world-class team and developed strong relationships with our global client base but this new chapter will provide the company with even greater access to clients, investors and markets. We’re excited about our next phase of growth at The Fifth Business and strengthening our position in the market.”
Luca Peyrano, CEO of ELITE, said: “I am delighted to welcome the latest group of UK companies to ELITE. Innovative, inspiring and fast growing businesses are essential for the British economy, driving growth, innovation and employment. We look forward to supporting 20 more UK businesses scale up and achieve their growth ambitions.”