News
01/07/08 Building on solid foundations - Pearce Group becomes ISG Pearce
Bristol-based Pearce Group became ISG Pearce as of 1st July 2008, following its acquisition by ISG plc, the London based international construction group, last November.
The firm has remained trading under the Pearce name since then and has continued its successful development.
Its trading figures for the 12 months to April 2008 are currently being audited, but will show substantial growth in both sales and pre-tax profits compared with last year's figures.
ISG Pearce is already reaping the benefits of being part of a group. Chief Executive, Colin Forrest said: “Whilst we continue to pursue our five focus sectors – retail; education; industrial; affordable housing and defence - the additional resources that ISG has brought have enabled us to increase the geographical breadth and project size that we are able to offer our customers. This, coupled with the increase in workload we are able to offer our supply chain, will allow us to continue this period of growth.
“Our combined resources have allowed us to pre-qualify and bid for larger schemes, as well as tender for national frameworks, including the Learning and Skills Council National Framework, LHC Primary School National Framework and a £70m mixed use scheme for Tesco.”
Since the acquisition last year ISG Pearce has won a range of contracts, including:
- The £19m rebuild of St John’s College in Marlborough, Wiltshire
- Phase two of St Brendan's College in Bristol with a value of £13.5m
- Three new stores for Tesco in Devon and South Wales with a combined value of £45m
- A new store and major refurbishment for Marks & Spencer in Bristol and Cheltenham with a combined value of £20m
- A New store for Asda in South Wales with a value of £10m
- The £24m contract for new Junior Ranks Single Living Accommodation for Aspire Defence at Salisbury Plain and Aldershot
The acquisition has also given ISG Pearce the opportunity to build on its reputation as a leading employer with a second successive entry in the ‘Sunday Times Best 100 Companies to Work For’ – this year up to 37th place – and an accreditation as an ‘outstanding organisation’.
“The development and satisfaction of our employees is still of paramount importance,” said Mr Forrest. “As ISG Pearce we now have the ability to offer existing and new staff career progression with the additional opportunities afforded within an international contracting organisation. This increases the attractiveness of ISG Pearce as an employer.
“The additional breadth of our talent and resources also means we are able to increase our investment in innovation and environmental initiatives, such as waste management, off site fabrication and lean construction.”
With the consolidation of the construction industry into larger groups offering a broader range of construction, design and project management services, the future looks bright for ISG Pearce.
“We are now ideally positioned to offer leading-edge solutions to both regional clients and to those with national and international property portfolios.
“We are already in talks with our retail framework clients, including Tesco and Marks & Spencer, on utilising ISG Europe and ISG Asia to deliver elements of their global development programme – the platform for growth is fantastic.”
David Lawther, Chief Executive of ISG plc, added: “Having a complementary company culture is hugely important for any acquisition and the culture at Pearce was very similar to ISG. Added to that, Pearce’s excellent customer base in the South West and Wales and its long-term partnership with food retailers significantly widened ISG’s geographic and sector representation.
“ISG is committed to the ongoing development of ISG Pearce in the South West and to the company’s continued success as a major provider of construction services to the UK retail sector.”
