The deal transfers full possession of the 148-year-old enterprise and its subsidiaries to an inside administration group 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 tip of the yr after overseeing a sustained interval of progress.
Below their management, WW Martin’s turnover has climbed from £19m to £61m, with pre-tax revenue up 30% to £4.98m final yr.
Working margin improved to 7.2%, whereas money at financial institution rose 26% to £18.1m, leaving the group debt-free and nicely positioned for future enlargement.
The contractor continues to profit from regular workload below Kent County Council’s £500m Property Development Partnership Framework, the place it’s at the moment delivering new colleges in Deal and Teynham. Extra schemes below the framework are awaiting planning choices and anticipated to feed into subsequent yr’s outcomes.
The corporate mentioned 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 yr.
An organization assertion mentioned the brand new board would proceed to concentrate on “enterprise as standard”, with no modifications to operations, workers roles, or mission supply. The group stays absolutely invested in sustaining the agency’s long-standing values and popularity as one in all 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 progress of round 5% for the yr forward, with margins anticipated to stay in step with 2025.
Trending Merchandise
KAFAHOM Power Tool Organizer Wall Mount, 4-Tier Drill Holder for Cordless Tools, 2-Pack Set, Garage Storage Rack with Side Hooks for Hammers & Pliers, Tool Organizer for Workshop/Utility Room
XMJY 5 Pack Funny Hardhat Stickers – Can We Fix It? No, It’s Fucked, Cute Cartoon Hard Hat Stickers for Builder, Waterproof Vinyl Stickers for Tool Box, Helmet (3 inch)
Cisily Brown Sponge Holder for Kitchen Sink, Sink Caddy Organizer with High Brush Holder, Kitchen Countertop Organizers and Storage Essentials, Rustproof 304 Stainless Steel, Soap Dispenser Organize
Mohawk Fil-Stik Wax Putty Stick, White M230-0202, 1 Count
