Paul Burton (pictured), managing director of the Northampton-based firm’s engineering business, becomes group chief executive. Mike Stanton will remain as executive chairman and continue to work closely with Mr Burton and the group board.
Ian Lawrence has been appointed as managing director of Briggs & Forrester Engineering Services. Chris Church takes over as director responsible for the South East region, replacing Mr Lawrence.
Mr Stanton said: “Having completed the management buy-out in June 2016, it is extremely important to now address the group management structure. These changes ensure that we have strong and dedicated leadership, providing the support and direction to achieve our long term strategic objectives.
We do not want to become just a bigger business but also a better business, generating improved margins and cash for the future benefit of everyone in the company.”
Since the MBO, the group’s operating performance has improved. Revenue has increased by 8% to £177 million (£164m: 2015). Operating profit has risen by £0.9 million to £4.4 million (£3.5m: 2015.
The group’s forward order book has increased by £51 million to £265 million, supported by a “strong pipeline of opportunities” to enable further growth from the existing geographical areas, Mr Stanton added.
Further regional expansion is not discounted, he said, but the immediate strategy is to enhance existing client relationships across the regional business units as a first priority.
