Bristol-based construction, development and maintenance firm Lancer Scott has completed a major restructuring to support its rapid growth.
The firm, which was launched in 1998, is now made up of three individual limited companies under parent group Lancer Scott Holdings.
Lancer Scott Construction is based in Bristol and Taunton, Lancer Scott Construction West is based in Cardiff and Liverpool, and Lancer Scott Facilities Management is based across all its sites.
The restructuring was carried out by Lancer Scott’s new managing director David Jones and comes after a period of strong growth, with group turnover increasing from £39m in 2017 to a projected £110m in 2024
Lancer Scott Holdings CEO Morian Cooke, pictured, said: “In 2020 we set out our ambitions and goals.
“We realised that if we wished to achieve those goals and to create the Lancer Scott that would be fit for the next decade, we would have to execute a major restructuring of the company.
“Three years on, this work has come to fruition with the creation of these three separate limited companies which can each work autonomously for the benefit of the holding company.”
He said the new structure provided greater employee responsibility and accountability at a regional level, which the board believed was a key foundation for a successful business.
“This is absolutely the right structure for us going forward and will enable us to continue our growth trajectory without compromising on our values and culture,” he added.
The reorganisation of Lancer Scott Holdings enabled its directors to introduce a share option scheme (CSOP) which is an incentive scheme for senior employees.
The scheme incentive is built on success in health and safety, customer satisfaction, employee satisfaction and profitability and the first of the share options have been awarded.
Lancer Scott Holdings was supported in its restructuring by accountants Bishop Fleming while legal counsel came from RWK Goodman.
The firm has a high profile through sponsorship agreements with Bristol City FC, including as the team’s shirt sponsor for two seasons between 2016 and 2018.
