While most students rough it, Gareth Darbyshire prefers to swank it up at Claridge鈥檚. But then, between lectures, he does run his own 拢20m-turnover contracting company. Not bad for someone who just turned 20
Gareth Darbyshire is sitting in his fifth-floor suite in Claridge鈥檚, talking animatedly about his plans to expand his multimillion-pound business, when he is interrupted by a phone call. It is the conci猫rge asking which restaurant to book for that evening. The new boss of Wales-based TPT Construction settles on the Ritz for variety鈥檚 sake 鈥 he ate at Gordon Ramsay鈥檚 last night.
It is an odd scene. Odd because, amid this deep recession, most chief executives are talking redundancies, not growth. Odder still because Darbyshire has just celebrated his 20th birthday. Two years ago he was doing his A levels; today, he is in charge of a 拢20m turnover business 鈥 the Darbyshire Group 鈥 and 75 people. He has just signed a 拢7m deal to buy public sector specialist TPT and bring a second firm, Palmac (now TPT Midlands), out of administration.
You might expect someone who has come so far so fast to be a cocky upstart, but in the flesh Darbyshire is just your average businessman: smooth, polite and very tired. 鈥淚t has been 11 months of hard graft getting this deal signed; day after day of nine to 15-hour meetings,鈥 he says. 鈥淏ut I鈥檓 not complaining. If you鈥檙e sitting in the solicitor鈥檚 office at 1am celebrating with a bottle of champagne, it could be worse.鈥
Darbyshire has been running his own business since he was 18, when he set up Darbyshire Developments to do small-scale refurbishment work around Preston, driven by a desire 鈥渘ever to work for anyone else鈥. He says construction appealed to him because he liked to see 鈥渟omething tangible for my efforts鈥.
The business was self-funding, he says, and early work came through family friends and other acquaintances, then 鈥渟nowballed鈥. After school, he went to Nottingham university to study law but three months in, a contact approached him with an acquisition proposal. 鈥淗e told me he had found this marvellous company but there was one problem: it was in deepest, darkest Wales. I said, 鈥榠f it鈥檚 doing as well as you say, there鈥檚 got to be something special down there that could be carried eastward鈥.鈥
Without dropping his studies 鈥 he still travels to Nottingham twice a week for lectures 鈥 Darbyshire began raising the cash to buy TPT. He spent the best part of a year going from one finance house to the next until he hit gold with wealthy private investors in London. He haggled the vendors down from 拢11m to 拢7m and agreed to pay half up front and defer half, to be serviced through the firm鈥檚 landbank.
Heavy stuff for a teenager. He admits there are times he misses being an ordinary student. 鈥淪ometimes I鈥檒l be absolutely knackered and go out for something to eat with a friend,鈥 he says. 鈥淏ut I鈥檒l talk to them for five minutes in two hours because the phone keeps ringing and I don鈥檛 have it in me to reject the call.鈥
But the hard work has paid off. While most of Darbyshire鈥檚 peers are in student digs, here he is in Claridge鈥檚 鈥 his second choice in London accommodation. 鈥淗istorically, I prefer the Savoy,鈥 he says. And while he may be just out of his teens, he looks 10 years older and talks business with total confidence.
Despite experience beyond his years, it comes as little surprise that Darbyshire sometimes finds it hard to be taken seriously. 鈥淲hen people find out my date of birth, they often have a genuine problem with it,鈥 he says. 鈥淚鈥檝e approached banks whose first response has been 鈥業 am not lending anything to a 19 year old鈥. That annoys me 鈥 the point blank refusal because of age.鈥
He understands concerns about gaps in his knowledge but is quick to defend his ability to work hard and learn quickly. 鈥淚f I hear something I don鈥檛 understand, I鈥檒l never admit to it, but that night I鈥檒l go and look it up,鈥 he says. And he has surrounded himself with experienced players. One of his trusted allies is family friend John Madeley, co-owner of Paul Madeley鈥檚 DIY chain, which was sold in the eighties for 拢27m. Together, they have a joint venture residential business called Damad. His parents are also involved.
Even with senior figures on board, Darbyshire is aware that his age can cause tensions. There was 鈥渟ome nervousness鈥 in the TPT team when they heard about it, he says, so he got them all into a room, reassured them that none of their jobs would change and then took them out to lunch so they could get to know him. He says: 鈥淲hen you鈥檝e got employees three times your age, how do you tell them what to do? I鈥檝e got to go very softly, involve as many people as I can and be as polite as possible 鈥 always please and thank you a million times over. That鈥檚 the only way I can make it work.鈥
And he really believes he can make it work, even in today鈥檚 climate. He has plans to grow his workforce by 40% in the next few years, expand across Britain, get into the renewable energy business in Europe and tackle the luxury housing market in Cheshire. And these are 鈥渃onservative if anything鈥, he says. It may sound naive, but TPT is in a stronger position than most. It has cornered a hefty chunk of the local authority market in west Wales, and built a track record in schools, hospitals and libraries.
Moreover, Darbyshire has an effective personal style. He claims to have contacts at Asda, Tesco, De Vere Hotels and premiership football clubs, built off the back of intensive schmoozing. 鈥淚 might be 20 but I believe in old-fashioned networking,鈥 he says. 鈥淵ou know when it鈥檚 someone鈥檚 wife鈥檚 birthday and you send a present.鈥
From any other 20 year old, this would sound laughable, but Darbyshire pulls it off. He may have been two during the last recession, but don鈥檛 write him off 鈥 one day you could be working for him.
Derbyshire in a minute
Where do you live?
I鈥檝e got a place in Nottingham and I spend a lot of time down here in Claridge鈥檚. But I鈥檝e still got a room in Preston at mum and dad鈥檚 when I need it.
Do you have a girlfriend?
I haven鈥檛 got time for one really. I tend not to have much time for anything other than work. Maybe it will get better in time. At the moment I鈥檓 a bit of a control freak, in that I want to have a handle on every aspect of the business.
Do you still get to see your friends?
I鈥檝e got a couple who keep my feet firmly on the ground. We went to Spain last year and they wouldn鈥檛 let me do more than an hour鈥檚 work a day. Sometimes I鈥檒l ask a mate to come to London with me. They鈥檒l go shopping while I have a meeting.
Are you the next Richard Branson?
You can spread your wings a little too much. I鈥檒l spread mine as far as I can in construction. But I wouldn鈥檛 go off and make cola. You can鈥檛 understand every market.
Postscript
Original print headline: 'A suite of one's own'
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