New team turns around ex-Montpellier firms

Four construction businesses that were non-core to the Montpellier Group are now delivering profits, just months after the management buy-out last October. They have a total turnover of £50m.
Roger Feast, who led the seven-man MBO team, said: "They were too small for Montpellier to grow them. McLaren was always profitable, but the other three have gone the same way just four months since we purchased them.
"It's great fun being an owner for the first time. I've been 34 years in the construction game - and the purchase, with no need for venture capital, gives me a great sense of satisfaction. I was so pleased to be able to take them for myself."
McLaren, the largest of the four with an annual turnover of £30m, operates in the commercial and industrial sector. Cornhill Interiors, at £12m, undertakes interior work both in London and throughout the country. Lodge, a renovator of ancient buildings, has a turnover of £4m, a figure which is matched by YJL Facilities.
To avoid confusion, the latter will be given a new name soon - Feast is open to suggestions.
"Four months down the line and no clients have gone," he said. Clients include Land Securities, Gazeley Properties, Redbourn Group and Big Yellow. The biggest McLaren contract on the go is worth £10m.
Feast is a great believer in motivating his senior staff with bonus payments. "Montpelier had a bonus system that I instigated, and I've continued it," he said. "It's based on individual performance and half the total staff are involved. They get a percentage of savings over budgeted costs. I like paying out bonuses. It's an equitable way of doing business."