Construction firm set to build on impressive growth after acquiring new headquarters
A Brentwood-based building contractor has acquired a new headquarters premises to facilitate its ambitious growth plans, with the business aiming for a £12m increase in turnover over the next three years.
Established in 2009, PIC Construction Group Ltd carries out façade and cladding works, refurbishment and fit-out projects as well as smaller reactive works for clients across a range of sectors, including hospitality, residential and retail. The business has also delivered several projects for Unite Students, helping to bring new student accommodation to Leeds, London, Bristol and Nottingham.
PIC Construction Group Ltd has enjoyed a strong period of growth in the last three years, growing its turnover from £7m to £18m. Now it’s looking to further build on this after moving into a new headquarters in March, which it acquired using a £375,000 commercial mortgage from Lloyds.
This new 2,576 sq ft space means all of PIC’s management team now work under one roof, having previously been spread out in separate offices. With meeting rooms and common areas, it has also given the business the opportunity to host potential clients in-person and better display its offering, improving its ability to win new contracts.
Alongside this, it has also secured a £500,000 invoice finance package from Lloyds to invest and scale-up the purchase of the façade and cladding materials it needs to meet the demands of multiple, larger projects. Alongside improved collaboration in its new HQ, the expansion plans are helping PIC Construction Group Ltd boost its turnover and create 100 new local jobs – including at local subcontractors – in the process.
Ion Pendus, founder and managing director at PIC Construction Group Ltd, said: “Since starting out more than 15 years ago we’ve never had our own space for all the team to work under one roof. We’ve been successful, but we know we’re capable of more. So, when we spotted the opportunity to change this with this new site, we knew it was the right time for us to make this investment and I’m grateful for the support from Lloyds in helping us to achieve this.
“Owning our own home as a business not only gives us a greater sense of stability and community among our staff, but it has also provided us with a space where we can welcome clients and better showcase the work we can do for them. This has already improved our ability to win new contracts and I’m looking forward to continuing to reap the rewards that this new headquarters is providing.”
Sasha Mills, relationship director at Lloyds, said: “Ion and his team have achieved remarkable growth in recent years. But rather than rest on their laurels, they’ve shown a desire to continue investing into improving the business which is demonstrated by their ambitious plans for the future.
“And key to these plans is making sure the business has the funds to invest in the resources it needs to take on bigger projects, which PIC has already had greater success with recently. It’s an exciting time for all those involved and we’ll be continuing to support the business as it looks ahead to what is a promising future.”
