Mike Crowder Group MD sets the new business in context of our growth strategy.
We are delighted to be launching our new in-house Climate Solutions business. It makes great sense in a number of ways:
Agile response to market demand
In our strategic review of market demand and growth sub-sectors within construction, we identified the need for high quality engineered and energy efficient cooling solutions as one such area.
Within a matter of months, we have been able to respond to that demand, develop and integrate a new service, identify and attract the additional talent we require, organise it effectively within our nationwide business and enter the market. This is what our strategy promises - and this is another example of delivery.
New revenue streams for the TClarke brand
Our strategy is also focused on the identification of new revenue streams where the margins and scale of work meet our requirements. Having identified the market need we also identified the strength of year on year growth within the AC market. All of the numbers meet our requirements and margin aspirations, so that provides another green light.
Growing our M&E and FM offers nationwide
As buildings become more advanced, climate solutions are a key part of the future model. So as well as creating a new revenue stream, this move also creates a necessary and valuable enhancement to both our M&E and FM offers in the market place.
The classic TClarke model - building in house expertise and brand
Our brand promises quality, based on in house expertise. Once again, this new offer fits the model. We have built the accreditations and we already have significant expertise around our Group, This new business is a genuine TClarke business from day one.
Delivering value immediately
It is very pleasing to note that the team, led by Gary Tidball, has already won two significant London projects and an AC asset collation contract in Exeter for 1600 AC systems. In the first three months the team has submitted over £3m of tenders. I look forward to reporting on progress and have every expectation that this team will be a significant asset and a strategically significant new revenue stream in the coming years.