Property firm emerges from recession with a focus on growth
A building and property services business which has more than doubled in size during the recession is gearing up for more growth with plans to open two more offices in as many years.
Newton Abbot-based Enelco was started 35 years ago and was taken over by a consortium of businessmen in 2009 with the aim of making some tweaks to the business model and putting it on the path for growth.
At the time it had 20 employees, a figure which was soon increased as a result of hires from the Torquay office of the failed construction business Rok.
The business, which includes EBC Building and Maintenance within its portfolio, offers a range of services from groundworks and construction to fire protection.
Fantastic offer at Swanson Ford, Newton Abbot. 3 Years FREE Servicing and 5 Years Warranty available on your BRAND NEW FORD FIESTA with the AWARD WINNING ECOBOOST ENGINE!!!
Terms: Limited stock available. Only whilst stock lasts
Contact: 01626 240583
Valid until: Tuesday, December 24 2013
As well as undertaking local contracts on behalf of organisations including the University of Exeter and South Devon College and the Dioceses of Exeter and Plymouth, Enelco has recently become part of a nationwide group, called Meddo, with the aim of picking up work from larger players.
This has resulted in the business undertaking work for B&Q and Mitie and is seen as a major driver for future growth. It will also result in the creation of the trading name Meddo South West.
At the beginning of this year, turnaround specialist John Hargreaves was brought in as MD with the role of opening new markets and growing turnover from its current £9 million.
The business now has 50 employees, with further recruitment likely later this year.
Its five-year plan includes opening an office in Plymouth, which Mr Hargreaves said would happen "within the next year, by hook or by crook", with a Bristol office planned for the following year and the prospect of an outlet in Poole after that.
With signs that the construction and property sectors are now starting to see growth following the downturn, Mr Hargreaves said Enelco was seeing work volumes increase.
"I think there is potential in the marketplace to grow – there is a lot of pent up demand," he said. "If I look at the work we're doing with main contractors it's increasing exponentially. The big guns are winning more and bigger projects and groundworks especially has picked up. There is an increase in inquiries and the volume of work is increasing."