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Willmott Dixon

Willmott Dixon
Company typePrivate Limited Company
IndustryConstruction
Founded1852, by John Willmott[1]
HeadquartersLetchworth, Hertfordshire, United Kingdom
Key people
Rick Willmott, executive chairman
Graham Dundas, CEO
RevenueDecrease £1,101.5 million (2021)[2]
Increase £22.9 million (2021)[2]
Increase £11.3 million (2021)[2]
Websitewillmottdixon.co.uk

Willmott Dixon is a British privately owned contracting, residential development and property support business.[3]

History

The company was founded at Bassingbourn in Cambridgeshire by a bricklayer, John Willmott, in 1852. During the second half of the 19th century and much of the 20th century, the company remained small.[4] Prior to 1987, the company was named John Willmott.[5]

During 1975, the company opened its first building repair and maintenance depot; this business sector would prove to be a key area for the future of the company.[6] By 1980, John Willmott was recording turnovers of nearly £30 million per annum. During the early 1980s, the company bought a motorhome, made by Winnebago Industries, from which to conduct board meetings at regional locations and thereby keep in touch with local management. Furthermore, the company decided to expand internationally around this time, setting up in both Egypt and Portugal.[4]

Through the early 1990s, various public sector bodies, from local authorities to housing associations, issued numerous large construction contracts to the company.[7][8][9] During early 1992, as part of parts to increase turnover by 50% within 24 months, Willmott Dixon created a new holding company, Willmott Dixon Housing, that oversaw two of its operating companies, Eastern and Southern, that primarily built homes for housing associations;[10] another division, Willmott Dixon Housing Refurbishment, was launched to capitalise on growing demand within the refurbishment market; it sought to provide a specialist service for social housing.[11]

During the early 1990s, the company made several acquisitions, such as of the Cheltenham-based firm Kalkare Property Maintenance and the Cardiff-based contractor Turner Western, as part of its expansion programme;[12][13] in March 1992, it put further acquisitions on hold after pre-tax profits dropped to £914,000.[14]

In 1998, Willmott Dixon recorded that its pre-tax profits for the previous year had nearly trebled, reaching £2.3 million.[15]

During 2000, the company moved its headquarters from London to the Spirella Building in Letchworth.[16] One year later, Rick Willmott became the fifth generation of the Willmott family to lead the business.[4] During May 2005, Willmott Dixon reported that it had recorded record profits of £10.4 million; it stated its intention to expand its housing arm and that it would evaluate private finance initiative (PFI) opportunities.[17]

During May 2005, Willmott Dixon opted to spin out its social housing business, Inspace, which it listed on the London Stock Exchange.[18] However, in January 2008, the company re-acquired Inspace in exchange for £148 million.[19] Following the reacquisition, Willmott Dixon opted to reshape its group structure and simplify the brands it traded under.[20]

In 2009, the company was fined £4.5 million by the Office of Fair Trading over alleged bid-rigging within the company’s tenders across a seven year period.[21][22] Two years later, several suppliers to the company publicly spoke out on their dissatisfaction of Willmott Dixon's introduction of several management service fees for routine tasks such as payment processing.[23]

During March 2013, Willmott Dixon invested £1 million in the 4Life Academy, located in Perry Barr, Birmingham.[24] That same year, it launched a new company to provide private rented accommodation for young professionals.[25] During October 2014, the firm lost a legal challenge over the awarding of a £177 million contract to rival company Mitie by Hammersmith and Fulham Council.[26]

In early 2016, the company put its support services division up for sale; the move was subsequently abandoned.[27][28] That same year, it was announced that Willmott Dixon Partnerships changed its name to Fortem under a rebranding strategy that sought grow the company outside its core social housing market.[29] Furthermore, the firm also merged its two residential divisions together;[30] it was allegedly considering its floatation around this time.[31]

In January 2024, Rick Willmott stepped down as group chief executive and became Willmott Dixon's new executive chairman; he was replaced by Graham Dundas, the former chief financial officer.[32] Later that same year, the company reported a pre-tax loss before exceptional items of £5.2 million despite a record order book of £3 billion; this outcome was attributed to insolvencies in its supply chain.[33]

Operations

Willmott Dixon has several business streams including construction, residential construction and interior fit out and refurbishment.[34] In 2017, it sold a 70% stake in its London-based residential development business Be Living to Malaysia's EcoWorld International, creating EcoWorld London.[35]

Major projects

Major projects involving the company have included:

The company is also working with Poplar HARCA to redevelop Aberfeldy Village in Poplar, London, due to complete in 2024.[52]

Fire safety provisions

Woolwich Central was the subject of a £46.7 million claim by Tesco against Willmott Dixon for cladding replacement;[53] Willmott Dixon then sought to reclaim the same amount from five members of its supply chain:[54] Lindner Exteriors and its subsidiary Prater, architect Sheppard Robson, AIS Surveyors, and fire engineer AECOM.[55] When the case was heard in February 2023,[53] two suppliers countered by saying the problems arose due to Willmott Dixon's negligence.[56] The financial impact of the Woolwich Central project continued to be felt in July 2024, when Willmott Dixon said costs to fix the scheme had risen from £44m to £48m.[57]

In June 2023, Willmott Dixon said its financial performance had also been adversely affected by costs associated with Building Safety Act compliance. CEO Rick Willmott said: "The aggregate provision for these legacy issues stands at a very material £62 million and we naturally expect to recover a substantial portion of this from designers, fire engineers, supply chain and insurers who, so far, have not faced up to their responsibilities or obligations across those 'in scope' projects."[58][59] In July 2024, Willmott Dixon said it had recovered £6.6m of its building safety compliance costs and expected more successful future claims in the future.[57]

Awards

The company was listed as No. 4 in the East of England Region of the mid range businesses of The Sunday Times Best Companies to Work For in July 2019.[60] It also won the Queen's Award for Enterprise in 2014, 2018 and 2019.[61]

Subsidiaries

Willmott Dixon Holdings own a few subsidiaries, including:[62]

Subsidiary name Area of business
Willmott Dixon Construction Construction company across various sectors
Willmott Dixon Interiors Interior refurbishment and fit-out
Fortem Planned and responsive maintenance to residential properties
EcoWorld London Sustainable property development within London. Willmott Dixon hold a 30% share.[63]

References

  1. ^ The story of John Willmott & sons, Willmott Dixon Group
  2. ^ a b c "Annual Review 2021". Willmott Dixon. Retrieved 30 March 2023.
  3. ^ "2010 Sunday Times Top Track 100" (PDF). Sunday Times. 20 June 2010. Archived from the original (PDF) on 9 July 2011. Retrieved 12 October 2011.
  4. ^ a b c "It does not take much to say well done". Camden FB. 15 December 2011. Retrieved 5 February 2024.
  5. ^ "10May91 UK: PETER DIXON STANDS DOWN AS JOINT CHAIRMAN OF WILLMOTT DIXON". constructionnews.co.uk. 9 May 1991.
  6. ^ "15Mar91 UK: APPOINTMENT AT WILLMOTT DIXON MAINTENANCE". constructionnews.co.uk. 14 March 1991.
  7. ^ "21Dec90 UK: WILLMOTT DIXON WINS EDUCATION AND OFFICE CONTRACTS IN HUNTINGDON AND STROOD". constructionnews.co.uk. 20 December 1990.
  8. ^ "08Mar91 UK: CONTRACT – HARINGEY, LONDON N8; WILLMOTT DIXON HOUSING". constructionnews.co.uk. 7 March 1991.
  9. ^ "14Jun91 UK: CONTRACT – KETTERING, NORTHAMPTONSHIRE; WILLMOTT DIXON". constructionnews.co.uk. 13 June 1991.
  10. ^ "06Feb92 UK: WILLMOTT DIXON FORMS NEW PARENT COMPANY CALLED WILLMOTT DIXON HOUSING". constructionnews.co.uk. 6 February 1992.
  11. ^ "07May92 UK: WILLMOTT DIXON TO LAUNCH HOUSING REFURBISHMENT ARM". constructionnews.co.uk. 7 May 1992.
  12. ^ "19Apr91 UK: WILLMOTT DIXON SWOOPS TO BUY KALKARE PROPERTY MAINTENANCE". constructionnews.co.uk. 18 April 1991.
  13. ^ "14Jun91 UK: WILLMOTT DIXON BUYS TURNER WESTERN OF CARDIFF". constructionnews.co.uk. 13 June 1991.
  14. ^ "12Mar92 UK: WILLMOTT DIXON REPORTS FALL IN PRETAX PROFITS TO £914,000 FOR HALF ENDING SEPTEMBER 1991". constructionnews.co.uk. 12 March 1992.
  15. ^ "Willmott Dixon 'is set for a good year'". constructionnews.co.uk. 14 May 1998.
  16. ^ "70 new jobs as company expands Letchworth headquarters". The Comet. 9 February 2011. Retrieved 5 February 2024.
  17. ^ "Willmott Dixon may look to PFI jobs for turnover". constructionnews.co.uk. 12 May 2005.
  18. ^ "Inspace float to lead to spending spree". constructionnews.co.uk. 5 May 2005.
  19. ^ "Willmott buys 'undervalued' Inspace back for £148m". Building. 25 January 2008. Retrieved 5 February 2024.
  20. ^ WHITTEN, NICK (9 November 2009). "Willmott Dixon unveils revamp plans to simplify its brand". constructionnews.co.uk.
  21. ^ LETTNER, ANDREAK (17 April 2008). "Willmott Dixon declares innocence". constructionnews.co.uk.
  22. ^ "OFT REACTION: Willmott Dixon considers next step". constructionnews.co.uk. 22 September 2009.
  23. ^ SIDDERS, JACK (22 September 2011). "Willmott Dixon fees anger suppliers". constructionnews.co.uk.
  24. ^ "Birmingham leader commends Willmott Dixon's approach to skills in the city". Midland Business News. 22 March 2013. Retrieved 22 August 2013.
  25. ^ BERKIN, CHRIS (1 July 2013). "Willmott Dixon launches new private rented sector company". constructionnews.co.uk.
  26. ^ WILSON, ROBYN (13 October 2014). "Willmott Dixon loses court battle over £177m contract". constructionnews.co.uk.
  27. ^ WILSON, ROBYN (11 February 2016). "Willmott Dixon to sell support arm". constructionnews.co.uk.
  28. ^ WILSON, ROBYN (27 June 2016). "Willmott Dixon cancels support services sale". constructionnews.co.uk.
  29. ^ WILSON, ROBYN (7 November 2016). "Willmott Dixon Partnerships reveals rebrand". constructionnews.co.uk.
  30. ^ WILSON, ROBYN (3 May 2016). "Willmott Dixon to merge residential divisions". constructionnews.co.uk.
  31. ^ WILSON, ROBYN (16 May 2016). "Exclusive: Willmott Dixon mulls residential arm flotation". constructionnews.co.uk.
  32. ^ Morby, Aaron (2 January 2024). "Willmott Dixon shuffles main board". Construction Enquirer. Retrieved 4 January 2024.
  33. ^ Prior, Grant (8 July 2024). "Supply chain woes send Willmott Dixon to a loss". constructionenquirer.com.
  34. ^ "What we do". Willmott Dixon. Retrieved 6 August 2015.
  35. ^ Prior, Grant (2 August 2023). "Ecoworld London to cut jobs as resi market stalls". Construction Enquirer. Retrieved 2 August 2023.
  36. ^ "Specialist Contracts". Construction News. 21 December 2006. Retrieved 4 July 2024.
  37. ^ "Aylesbury Waterside Theatre: Leading role". Building. 25 July 2008. Retrieved 14 October 2019.
  38. ^ "Willmott takes stage on £10m Worcester Arena". Construction Enquirer. 1 December 2010. Retrieved 14 October 2019.
  39. ^ "Spenhill's Woolwich Central construction workforce peaks at 700". Spenhill. 19 April 2012. Retrieved 22 August 2013.
  40. ^ Booth, Robert (3 September 2014). "Tesco scoops Carbuncle Cup for 'inept, arrogant, oppressive' Woolwich store". The Guardian. Retrieved 28 May 2019.
  41. ^ "Willmott Dixon picked for £34m Keynsham town hall development". The Construction Index. 26 January 2012. Retrieved 15 May 2024.
  42. ^ "Willmott Dixon to fit out Design Museum". Construction Index. 29 June 2015. Retrieved 18 July 2019.
  43. ^ "Project of the year: £20m to £50m". Construction News. 14 July 2017. Retrieved 18 July 2019.
  44. ^ "Made in Dagenham – a construction epic / Orchard Village starts the countdown for the completion of Phase One". Circle. 8 November 2010. Retrieved 22 August 2013.
  45. ^ Farand, Chloe. "Call for building inspection at 'nightmare' Orchard Village estate, Rainham". Romford Recorder.
  46. ^ Farand, Chloe. "Watchdog opens investigation over 'shocking' energy bills at Orchard Village, Rainham". Romford Recorder. Retrieved 6 February 2017.
  47. ^ Gelder, Sam. "Nightmare new homes in Rainham estate have leaks, damp and bad wiring". Ilford Recorder. Retrieved 6 February 2017.
  48. ^ "At least Twickenham's new hospitality is a winner". Building. 12 November 2018. Retrieved 18 July 2019.
  49. ^ "Willmott Dixon completes Alexandra Palace restoration". Development Finance Today. 10 December 2018. Retrieved 18 July 2019.
  50. ^ FC, Brentford. "Brentford FC and Willmott Dixon sign Development Agreement for Brentford Community Stadium at Lionel Road South". brentfordfc.co.uk. Retrieved 8 June 2015.
  51. ^ "Willmott Dixon wins £25m Newport school job". Construction Enquirer. Retrieved 1 December 2023.
  52. ^ "Willmott Dixon to start on £250m East End estate". 13 July 2013. Retrieved 22 August 2013.
  53. ^ a b Vogel, Ben (27 January 2023). "Willmott Dixon sues Aecom and Prater over high-rise cladding". Construction News. Retrieved 27 January 2023.
  54. ^ Rogers, Dave (18 July 2022). "Willmott Dixon rips into supply chain for 'dodging' £44m cladding repair bill". Building. Retrieved 19 July 2022.
  55. ^ Gayne, Daniel (23 February 2023). "Willmott Dixon keeps promise and hits firms with £47m writ for cladding repairs bill". Building. Retrieved 23 February 2023.
  56. ^ Vogel, Ben (16 February 2023). "Suppliers blame Willmott Dixon's 'negligence' in cladding court battle". Construction News. Retrieved 16 February 2023.
  57. ^ a b Rogers, Dave (19 July 2024). "Willmott Dixon says cladding repair bill on Tesco job up again with decision on firm's legal action against supply chain due next year". Building. Retrieved 19 July 2024.
  58. ^ Prior, Grant (22 June 2023). "Willmott Dixon vows to recover building safety millions". Construction Enquirer. Retrieved 22 June 2023.
  59. ^ Rogers, Dave (14 July 2023). "Willmott Dixon bosses keep up pressure on firms it accuses of 'not facing up to' £62m cladding repair bill". Building. Retrieved 14 July 2023.
  60. ^ "Best companies". Retrieved 23 July 2019.
  61. ^ "Willmott Dixon marks Queen's Awards hat trick". UK Science Park Association. Retrieved 23 July 2019.
  62. ^ "Our structure". Willmott Dixon. Retrieved 27 January 2024.
  63. ^ "Development - EcoWorld London". Willmott Dixon. Retrieved 27 January 2024.
Quelle: https://en.wikipedia.org/wiki/Willmott_Dixon