FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
UK built environment construction, development and property maintenance company, Lancer Scott, has completed a major restructuring of its business divisions.
Under the parent company of Lancer Scott Holdings Ltd, three individual limited companies have been created – Lancer Scott Construction Ltd (based in Bristol and Taunton), Lancer Scott Construction West Ltd (based in Cardiff and Liverpool) and Lancer Scott Facilities Management Ltd (based across all sites). Lancer Scott Holdings Ltd owns 100 per cent of the share capital in its subsidiaries.
The restructuring was carried out by Lancer Scott’s new Managing Director David Jones to support the company’s growth, which has seen its turnover grow from £39 million in 2017 to a projected £110 million in 2024.
The reorganisation of of the company has allowed 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.
Speaking about the restructure, CEO of Lancer Scott Holdings, Morian Cooke, 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.
“This new structure provides greater employee responsibility and accountability at a regional level, which the board believe is 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.”
