Lancer ScottRestructuring

LANCER SCOTT COMPLETES MAJOR RESTRUCTURING AS TURNOVER TRIPLES IN SEVEN YEARS

Lancer Scott has completed a major restructuring of its business divisions, creating three individual limited companies in the process.

Under the parent company of Lancer Scott Holdings Ltd, there now sits 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% 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 rapid growth, which has seen its turnover grow from £39million in 2017 to a projected £110 million in 2024.

CEO of Lancer Scott Holdings, Morian Cooke, said of the new structure: “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.”

Morian added: “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.”

The reorganisation of Lancer Scott Holdings 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.

Lancer Scott Holdings was supported in its restructure by Bishop Fleming Accountants and legal counsel given by RWK Goodman.