Once it was only the mighty St James's Place which stood as the lone Gloucestershire business ranked in the influential FTSE 100 list - but no more.

Investors in the Cirencester-based wealth management firm need not panic - its success continues - but it has been joined in the list of the UK's biggest businesses by another county company.

Engineering firm Spirax Sarco has been building up a head of steam for some time and threatening to enter the hallowed ground of the top 100 firms.

Nicholas Anderson, chief executive of the Cheltenham headquartered business, which employs more than 1,100 staff in the county and 7,400 worldwide and is an expert in steam engineering, said; "This is a milestone in the group's history and reflects the respect that investors have for Spirax-Sarco Engineering plc and the value that they place upon us.

"While we are pleased by this recognition, it does not change our priorities. We will remain focused on implementing our strategic objectives so that we can continue to provide the best products, solutions and services to customers and deliver sustainable value to all our stakeholders for the long term."

It is not just investors and the City which have recognised the company.

Towards the tail end of last year it was voted top of its sector (engineering and machinery) in the Britain's Most Admired Companies awards and recognised as Britain's 12th most admired company overall.

Shortly before that it was also picking up the British Company of the Year award at a ceremony hosted by the British Chamber of Commerce in China.

Spirax Sarco, which has been listed on the London Stock Exchange since 1959, puts its success down to its direct sales model, its wide geographical footprint, diverse industry and customer base and broad product range.

In recent years its strong organic growth has been supplemented by three significant acquisitions, including Watson-Marlow.

FTSE 100 firms represent an estimated 80-plus per cent of the entire market capitalisation of the London Stock Exchange.

The listing is described as a measure of the performance of the shares of the 100 largest companies listed on the London Stock Exchange and along with the FTSE 250 listing is used as an indication of how the UK economy is faring.

Picture credit: Stock Exchange picture courtesy of Pixabay.