Willmott Dixon to provide full support and energy to capture immense potential within the current team and the support services sector
In February Willmott Dixon invited expressions of interest in its Support Services division from potential strategic partners, investors or purchasers who it felt were able to provide a better operational environment in which the subsidiary business could grow and prosper.
Willmott Dixon emphasised that the process was being conducted in cooperation with management, with an open mind, and with the clear proviso that any successful partner would need to provide a compelling ‘added value’ proposition that would improve business prospects and successfully balance the best interests of customers, employees and shareholders alike. Otherwise, Willmott Dixon would continue to retain and drive that business forward, with the added reassurance that having explored all options, the Group would remain the best environment within which to grow and prosper.
Rick Willmott, Group Chief Executive: “While considerable interest was received, once properly tested, all the proposals either fell short of perceived value or would have resulted in the dismantling of the business and its culture and the redistribution of its assets, which would not have been fair to either customers or employees. We have therefore decided to withdraw from negotiations, to reinstate the business in its longer term plans, and have re-committed our full support and energy to capture the immense potential within the current team and the support services sector.
“This process has been very hard work and at times an unhelpful distraction for the team involved. It has also highlighted their immense ability, resilience, selflessness and professionalism – of which they can be very proud and for which we are extremely grateful.”