Solihull company wins Coutts prize for Family Business

Motor retailer, ‘Meteor Group’ trading as Drayton Group named ‘Best UK Family Business, Northern England Region, £25m+ turnover category’

Solihull based motor retailer, Meteor Group trading as Drayton Group, was last night named ‘Best UK Family Business, Northern England Region’, in the £25m+ turnover category of the Coutts Prize for Family Business. The business will now go on to compete in the £25m+ turnover category, at the national finals to be held in London on 6 June.

The Coutts Prize for Family Business recognises the best run family businesses in England and Wales, and compliments Coutts successful Family Business Forum that is held throughout the UK. Mark Evans, Head of Family Business, Coutts & Co, commented: “With a 300 year history of working with family businesses, Coutts has a special understanding of the enormous contribution family firms make to both the economy and society, as well as the specific challenges they face.

“Now in its second year the Coutts Prize for Family Business is only regional and national awards programme in England and Wales celebrating the overall best performing small, medium-sized and large family businesses. The interview process acts as a company health check.”

Established originally in 1924 with headquarters in Solihill and branches around the West Midlands, Meteor Group trading as Drayton Group is a fourth generation business with 80 years experience in motor retail, 420 staff and a turnover of £175m. It is now the largest independent operator for Mercedes-Benz in the UK, with registrations of nearly 4,000 cars each year.

John Freeman, regional chairman of the evaluation committee commented: “The things that impressed the evaluation committee about Meteor Group included:

·the internal disciplines that have been introduced to operate in an intensively competitive market with fine margins with a demanding supplier breathing down its neck;

·the emphasis on the staff adhering to the family values in their dealings with the customers, this is particularly important as they have empowered their staff to solve customer problems;

·the sensitive way in which the family handled the retirement of family members to make way for non family management and other ongoing issues concerning family members;

·adoption of a shareholder agreement and the structured process for buying back shares in the company; and

·the emphasis on the development of both family and non-family staff, which includes effective mentoring schemes and even a reverse appraisal system for family members.”

The Coutts Prize recognises firms in three categories (£1m-5m, £5m-£25m, £25m+) that demonstrate a combination of high standards of family governance and a corporate governance, a competitive market position and consistent financial growth, and a track record of charitable giving or involvement in local community. Entrants must be companies or firms where two or more family members together have control of over 25% of the voting shares and consider themselves as a family business.

More specifically, the independent evaluation committee was looking for examples of best practice including;

·ethical standards reflecting family values;

·effective planning for succession of top family management and non-family members;

·a means of returning wealth to shareholders; and

·a track record of innovation in products, services, technology and ways of doing business.

The independent evaluation committee is overseen by John Freeman, founder and Partner of Business Analytics, a management consultancy. He has extensive experience as a consultant to family and non-family businesses, and is a member of the Family Firm Institute.

The committee for the Northern England region includes: Lucy Armstrong; Chief Executive, The Alchemists (Northern) Ltd; Simon Berry, Managing Director and Chairman, English Lakes Hotels; John Josephs, Trustee and Treasurer, Tyne & Weir and Northumberland Community Foundation Network; David Molian, CREDO Co-Director, Cranfield School of Management; Barry Owen, Chairman, Mason Owen and Tim Watts, Chairman, Pertemps Ltd.

Winners were given a unique family business cartoon sketch, created by renowned cartoonist, Robert Duncan, depicting some of the more light-hearted moments of running a family business, and framed by acclaimed family business and jewellery designers, Boodles. Robert Duncan, will also create a unique cartoon for each of the winners, to tell their own story.

Coutts Prize for Family Business, Northern England Regional

Nominations and winners

Turnover £1-5m	Turnover £5-25m	Turnover £25m+
Brainboxes	A W Lymn*	Pindar
Dovehaven Care Homes	Alpha Health Care	The Kerfoot Group Limited
Halsbury Travel	Alpha Hospitals	Meteor Group*
Horobin Limited	Broadgate Homes Limited	The Cains Beer Company
Plas Newton Estates Limited	Burbidge & Son Limited
Surepak	D R Group
Swann Systems*	Erodex
	Radford Jewellery
	Tanners Wines Merchants
	San Carlo Restaurants

*Winners.

For further media information on Coutts contact:

Jo Thorne, Regional PR Manager, Coutts & Co on 0207 957 2650 or mobile 0776 6070 859 or e-mail joanna.thorne@coutts.com

Notes to Editors

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