Consultant confirms change of ownership as it posts 28% increase in pre-tax profit
CPC Project Services has transferred its ownership to an Employee Ownership Trust, the £35m-turnover business confirmed in an announcement today.
The company, which provides consultancy and project management services, had been owned by five partners, with chief executive Steve Mole as the principal shareholder.
The move means the business is now owned by its 320 employees, with the partners being paid in instalments over a period of time under a “deferred consideration”.
Mole will continue to be responsible for day-do-day operations along with the current board.
Mole said “We’ve been working for many months to ensure that this change in business structure is in the best interests of our employees and clients, as well cementing CPC’s long-term strategic commitment to remain an independent and agile project and cost management consultancy.”
>>Also read: Growing into new markets: CPC Project Services’ Steve Mole explains his plans to diversify
>>Also read: Why they won: A closer look at all the Building Awards 2023 winning entries
The company’s latest accounts for the 12 months to 31 July last year, published earlier this month, show a 20% increase in annual turnover from £29.4m to £35.4m and a 28% increase in pre-tax profit to £6.5m.
Last November, Mole told Building he wanted to grow CPC’s income to £50m within five years and to £100m within 10.
CPC Project Services won in the “Construction Consultant (100 staff or over)” category at the Building Awards in November.
No comments yet