South Tyneside construction firm set for management buyout amid ‘record’ demand

South Tyneside based Castle has secured a record forward order book of £110m for 2024 and 2025.

The projections for 2024, represents strategic growth in turnover over the next 12 months and coincides with the completion of a scheduled management buyout and confirmation of the firm’s board of directors.

This is composed of co-founder, CEO, Tony Lister, managing director, Andrew Dawson, who has been with the business for 14 years and technical director, Simon Groom, with the firm 15 years. All three are existing board members and have been responsible for the strategic direction of Castle for many years.

The restructure sees the retirement of directors Allan Carr and David Harland. Alongside Tony Lister, Allan launched the business in 2002. David had been with the company for 15 years.

With its headquarters in Hebburn, South Tyneside and offices in Glasgow, Edinburgh and Teesside, Castle, which last year recorded £30m turnover, offers a wide range of engineering, and contracting services covering all aspects of construction, mechanical, public health, renewable and electrical engineering.

Tony Lister, CEO, Castle, commented: “The company wishes to extend its gratitude to Allan Carr and David Harland for their significant contributions over the past two decades.”

With a current headcount of 180, Castle hired 32 new staff members in 2023 to strengthen its ‘market-leading’ MEP provision which, during 2023, was complemented by its rapidly emerging principal contractor role across northern England and Scotland.

This twin approach is supported by internal promotions, key recruitment at management and operational levels, training and development programs for all staff and substantial investment in technology, processes, and equipment.

Andrew Dawson, managing director, added: “We’ve had a very strong year and have also put in place a clear, forward strategy, that we are very confident will deliver exceptional, sustainable, growth.

“We are set to increase our turnover in the next 24 months, which is additional evidence that we are delivering, in partnership with our customers and suppliers, a consistently high-quality product. Our board of directors and senior management team have been in place for many years, ensuring stability, consistency, and certainty.”

By Matthew Neville – Senior Correspondent, Bdaily

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