Willmott Dixon has unveiled a new corporate structure to create three distinct companies delivering contracting, residential and support services.
Under the plans, both residential development and support services companies will move from under the group’s umbrella to become sister businesses
Willmott Dixon said the move will give each greater operational, financial and strategic independence to facilitate growth plans.
For the six months to 30th June 2016, the family-owned construction business made £12.0 million profit before tax and amortisation (2015: £8.1m) on turnover of £600m. The secured and probable forward order book stood at £1.15bn on 30th June.
Group chief executive Rick Willmott said: “This year has seen some important developments to support our growth ambitions.
In May, we formed Willmott Residential to combine the capabilities of Prime Place, Be:here and Homes within one company.
This has already opened up many new opportunities for sharing skills, identifying new land opportunities and bringing a more holistic approach to house building for our partners and customers.
“More recently, we rebranded our support services businesses as Fortem to grow a strong new brand utilising the technical strengths and capabilities that exist in our people to create a business with greater access to a variety of markets outside its core housing sector.”
With Willmott Residential and Fortem making good operational and strategic progress, Willmott Dixon will now implement plans to strengthen both companies further by allowing each to benefit from greater independence to pursue their individual, and different, growth plans.
In 2017 this will see them move out from under the Willmott Dixon ‘umbrella’ to become ‘sister’ rather than ‘subsidiary’ businesses to Willmott Dixon, whilst remaining owned and controlled by the same shareholder family.
Three Sister Companies:
Willmott Dixon Holdings with two subsidiaries: Willmott Dixon Construction and Willmott Dixon Interiors
Willmott Residential with three subsidiaries: Prime Place, Be:here and Willmott Partnership Homes
Wimpole Equity Holdings with one subsidiary: Fortem
