This IT firm sells cloud-based software and provides consultancy services from offices in London, Manchester, Woking and Cape Town in South Africa. As part of tech conglomerate The Big Ideas Group, profits rose to £4.7m in the year to March 2016. In June, chief executive Peter Sweetbaum, 49, led a management buyout. He was backed by the private equity firm ECI Partners, which acquired a majority stake for an undisclosed sum.

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Company details
CompanyIT Lab
ActivityIT services provider
LocationCentral London
Annual profit growth84.94%
Latest profits £000s*4,737
Latest sales £000s*31,118

If applicable:

* supplied by company † annualised figure