A BUSINESSMAN with more than 30 years of experience in leading and developing teams across the globe is sharing his expertise to help an ambitious house building company continue to grow. Isaac Wharton has worked globally at a strategic level for public multinational corporations and private equity companies, growing the
A HOUSEBUILDER is celebrating a major post-Covid recovery after seeing annual revenues grow by more than 200 per cent. After posting revenue of £37m for the 2021/22 financial year – a rise of nearly £24m from the previous year – Cumbrian-based Genesis Homes is anticipating another successful 12 months as
BDC 319 : Aug 2024
A BUSINESSMAN with more than 30 years of experience in leading and developing teams across the globe is sharing his expertise to help an ambitious house building company continue to grow. Isaac Wharton has worked globally at a strategic level for public multinational corporations and private equity companies, growing the creation of value within the businesses and successfully negotiating mergers and acquisitions, business turnarounds and improvement activities. During his 30 plus year career, he has held roles as Managing Director, European Group President and International Vice President and General Manager at the firms he has represented. Following his recent return to the area, Isaac has been appointed as a Non-Executive Director of Cumbrian-based homebuilder Genesis Homes, where he will advise on how to develop the rapid expansion of the business which now employs more than 60 members of staff. Isaac said: “I have a long history with Genesis Homes since it was formed in 2017 but I’ve only recently taken an active role. “Having acquired South Cumbrian homebuilder Russell Armer Homes in 2021, I’ve witnessed the meteoric growth of the company from the early days and I’ve been impressed with the passion and commitment within the business, particularly from the managing director Nicky Gordon. “Seeing Nicky’s desire to succeed in business, it seemed a natural progression for me when retiring from a full-time role to bring those skills I’ve acquired to Genesis Homes and help take the business to the next level. “It’s about adopting a consistent development focus and ambition to grow the business and increase the creation of value, that is the passion I see in Genesis Homes and exactly the environment I have been used to and love working in so the company is definitely a good match for my ambitions.” During his successful career, Isaac worked more latterly as the international operations vice president and general manager at America-headquartered company Phillips & Temro, part of private equity giant Harbour Group Ltd. His role included acquisitions, growing and creating value of businesses outside of America, largely working in Europe, China and India. Isaac said: “The role was very fulfilling and it was all about value creation by either creating more efficient, more effective business activities, reducing overheads or the bolting on of strategic acquisitions to strengthen the core business or products. “I have loved my time working at international companies and travelling the world, and now I’m looking forward to being involved in the next, exciting chapter of Genesis Homes and seeing how far we can grow the business.” Prior to working with Phillips & Temro, Isaac worked at three other American-based private equity groups. Nicky Gordon said: “Isaac has been really helpful throughout the Genesis Homes journey and we are absolutely delighted that he has agreed to take on a more hands-on role to grow the company even further. “His experience and expertise in business will be vital to us as we aim to achieve and develop our growth ambitions in the coming years, with 2022 our biggest year to date as we currently work on constructing 750 new homes.”
A HOUSEBUILDER is celebrating a major post-Covid recovery after seeing annual revenues grow by more than 200 per cent. After posting revenue of £37m for the 2021/22 financial year – a rise of nearly £24m from the previous year – Cumbrian-based Genesis Homes is anticipating another successful 12 months as it looks to nearly double the amount of new homes it builds. The company, which acquired fellow Cumbrian homebuilder Russell Armer Homes in April 2021, legally completed on 96 new homes during 2021/22 and is well on track to achieve or exceed its current build target for 2022/23 of 176 units. Nicky Gordon, the company’s Managing Director, said: “Whilst 2021/22 has proven to be the most challenging year so far in the housing industry with ongoing supply chain issues, labour shortages and the inflated cost of materials a constant challenge amidst the effects of a global pandemic, Genesis Homes is well placed with a strong and experienced senior management team and positive momentum for further disciplined growth and success. “Our team has remained lean, but we have increased by strengthening in key areas of construction, sales, development and customer service in particular, and by merging the existing teams following the acquisition of Russell Armer Homes. The way the team members have settled in and integrated has played a key part in contributing to our success this year. “I’m delighted with the performance of the company during what can only be described as the most difficult of times, and I’m hugely grateful to all team members and stakeholders for their commitment and hard work to ensure we are in such a strong position.” The upcoming 2022/23 financial year promises to be another busy one for Genesis Homes as it is currently operational across eight developments, with a further two to begin later this summer. Among the developments under construction at the moment is the pioneering EcoGen development in the Cumbrian village of Calthwaite which will see the company build 16 carbon net zero emitting homes. All homes will be fully powered by renewable energy sources and controlled by smart technology as part of Genesis’ ongoing commitment to significantly reduce household emissions. In total, all 10 developments will amount to 757 new homes once completed with an estimated revenue value exceeding £235m. Nicky said: “The upcoming year is very exciting for all involved in Genesis and we are all looking forward to what this next year and future years hold for us. “We have great ambitions to continue growing the business and keep building top-of-the-range new homes for our customers to thrive in. “The EcoGen project is a development of huge significance as we lead the way in sustainable housing, and we hope this can help pave the way for a more environmentally friendly approach to home building across the UK.” Nicky founded Genesis Homes in January 2017 and the company has quickly grown into one of the largest homebuilders across Cumbria. Throughout 2021/22, five site acquisitions were successfully completed by Genesis’ land and planning team with a further four sites under company control, equating to an estimated 600 new units in total.
