好色先生TV

Lakehouse founder Steve Rawlings will step down as a director of the business if the 拢345m social housing contractor is successful in its bid to float on the stock exchange, announced this week.

The firm鈥檚 executive chairman Stuart Black, who has overseen its rapid expansion since joining in 2008, said Rawlings (pictured at last year鈥檚 好色先生TV awards) would retain some ownership but not be a director in the business if it floats as planned in March.

Black also said the company鈥檚 growth strategy, which has seen its turnover increase sevenfold in just six years, would not change following a stock exchange listing, which is targeted to raise 拢30m.

Rawlings, currently a non-executive director and major shareholder, set up the business in 1988, and formally stepped down as chief executive in October last year in order to spend more time running his training-focused social enterprise 好色先生TV Lives. Black said he had not been 鈥渁ctively involved鈥� in the business for the last two years. 鈥淎fter flotation Rawlings will retain an interest but the exact amount is still to be discussed,鈥� said Black.

The Essex-based construction group has joined a number of companies that are due to float before the general election in May, such as infrastructure expert John Laing and manufacturer Eurocell. Lakehouse鈥檚 flotation is set to value the company at around 拢200m.

The flotation plans come after Lakehouse reported pre-tax profit of 拢21.9m on revenue of 拢345.2m for the year ended 30 September 2014. In 2008, the year after Black joined, Lakehouse made a 拢1m profit on turnover of just 拢50m.

Black said growth opportunities would come from cross selling the new services from recently acquired businesses into existing customers, as well as by expanding Lakehouse鈥檚 geographical coverage and small bolt-on acquisitions: 鈥淭he strategy will remain the same as we have been pursuing for the last five years, to grow organically in our chosen markets, and add selective acquisitions. We fully intend to grow the business further.鈥�

The company, which makes four fifths of its turnover from selling maintenance, compliance and energy services to the social housing sector, and the rest from general construction work, employs 1,250 staff across the UK in 18 offices.