Former Mowlem duo sell Kent contractor to MBO

The deal transfers full possession of the 148-year-old enterprise and its subsidiaries to an inside administration crew made up of present administrators, senior managers, and present shareholders.

The brand new board is made up of David Barker, Neil Benwell, Trevor Codd, Ben Inexperienced, and Doug Mumford.

Darling and Posnett, who purchased into WW Martin in 2011 after lengthy careers with Mowlem, will step down from their director and shareholder roles by the top of the 12 months after overseeing a sustained interval of development.

Below their management, WW Martin’s turnover has climbed from £19m to £61m, with pre-tax revenue up 30% to £4.98m final 12 months.

Working margin improved to 7.2%, whereas money at financial institution rose 26% to £18.1m, leaving the group debt-free and properly positioned for future growth.

The contractor continues to profit from regular workload underneath Kent County Council’s £500m Property Building Partnership Framework, the place it’s at present delivering new colleges in Deal and Teynham. Extra schemes underneath the framework are awaiting planning choices and anticipated to feed into subsequent 12 months’s outcomes.

The corporate stated the change of possession had been rigorously deliberate to make sure continuity of management and enterprise stability. Darling and Posnett will stay concerned for a brief handover interval earlier than retiring on the finish of the 12 months.

An organization assertion stated the brand new board would proceed to concentrate on “enterprise as standard”, with no adjustments to operations, workers roles, or mission supply. The crew stays totally invested in sustaining the agency’s long-standing values and repute as one among Kent’s most trusted contractors.

WW Martin, based in 1877, now employs greater than 100 workers throughout its main works and particular initiatives divisions, supported by sister companies WWM Civils, KRS Interiors, East Kent Brickwork, and WWM Plant Rent.

The enterprise is forecasting modest development of round 5% for the 12 months forward, with margins anticipated to stay in step with 2025.