The rapid rise of Statom Group – A year in construction
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https://constructionwave.co.uk/2025/09/12/the-rapid-rise-of-statom-group-a-year-in-construction/ |
Today, Construction Wave is launching a new series we are calling “A Year in Construction”, the first in a wave of longform articles in which we reflect on the trading performance and operations of a certain contractor during a roughly 12-month period, to explore the strategic choices and activities that seem to be driving its recent success. Not unlike our *Construction Legends and Nostalgia series, these stories break from the everyday news cycle, to explore the workings of a particular construction contractor and the individuals behind them, only this time we wish to examine certain critical business decisions and approaches that have occurred in recent history, for the educational benefit (as well as entertainment!) of our subscribers.
For our inaugural A Year in Construction story, we have chosen to focus on Statom Group. Enjoy!
Last year (2024) was an important year for the Essex-headquartered contractor. As part of a senior leadership restructure to drive growth and operational efficiency within the business, Statom appointed 25-year industry veteran Paul Whelan to the role of managing director, to head up delivery of its core activities, from civil engineering through to structures. Given Whelan’s extensive background in major project delivery, including Google’s European HQ in London and Heathrow T2(В), bosses agreed his appointment would complement Statom’s broader vision, as he joined forces with chief executive Stan Nikudinski, chief financial officer Edward Nixon, and chairman Tommy Brown.
It was also in 2024 that Statom Group revealed it had purchased a new 10,000 sq. ft office space in London Bridge for £2.7 million, complementing its other UK office locations, in Glasgow, Crawley, and Thurrock, with the newest asset set to become the central management hub of the business’ London activities and bookending what bosses described at the time as “another transformative year of trading” for the contractor, during which Statom reported a more than 11.6 per cent rise in revenue of £159.8 million, underpinned by more than 40.1 per cent growth in net asset value (£25.5 million) and 81.2 per cent growth in cash flow (£27.9 million), providing investor confidence as the company entered a new financial period.
Brand recognition
Keep in mind, Statom had been founded just a few short years before, in 2020, by Stan and Tommy, with the name “Statom” an amalgam of their own. And despite an initial focus on groundworks, RC frames, and remediation works, Statom quickly expanded into complex civil engineering projects, including ports, airport infrastructure, river wall renewal, complex basements, bridges, and Energy-from-Waste (EFW) facilities, as well as starting Flushline drainage solutions.
The acquisition of the new office at London Bridge, however, was part of a much deeper and lasting strategic objective, in part expressed by the senior leadership team and company stakeholders at the time, as they sought to ‘reinforce the company’s identity’ within a competitive construction landscape and to send a signal about Statom’s ‘Value and Capabilities’ to prospective clients and customers as well as longstanding ones. “Our strategic focus remains steadfast in our operating model, driving our operations and reinforcing our identity as Statom,” a financial statement read. “Despite the industry’s ongoing challenges, we continue to display resilience and diversify our offering in different market areas. Our efforts have yielded tangible progress, with external clients increasingly recognising and embracing our strategy, value proposition, and operational framework. This has allowed us to diversify not only our client base significantly throughout the year but also the sectors we are operating in. The continuation of this operating model will be the cornerstone of further growth through FY25 and FY26.”
The Statom approach
Statom has been candid about how it thinks about its specialist engineering contractor model in terms of value and delivery, breaking it down into three key components:
- “Relationship first” – Statom has said it focuses on building “deep, authentic relationships” with its clients, to drive “best for project” outcomes.
- Self-delivery – By adopting a self-delivery approach, Statom can be confident its objective is clear and seamless, supported by a focused and trained workforce.
- Working model – Statom has a clear position on the core activities it delivers across: civils, infrastructure, remediation, demolition, groundworks, RC frames and structures, as well as aviation, marine, tower cranes, and river walls.
Shortly after Statom announced the London Bridge office acquistion, Berkeley Group handed Statom’s team the contract to deliver the next phase of work at Oval Village, a major regeneration project in Lambeth, also in London, which entailed the transformation of a former Grade II listed gasholder, thought to be the largest of its kind in the world and dating back to 1897, into a modern residential development consisting of 200 homes, with Statom overseeing the substructure and superstructure as well as tower crane packages, alongside Trident Lifting Solutions, whom Statom had acquired the year before to strengthen its foothold in the construction sector.
New contracts kept coming in despite a challenging trading environment across the sector more broadly, including in December 2024, when repeat client Berkeley Group awarded a similar works package to Oval Village to Statom, this time in west London where, alongside Trident once more, Statom assisted in the delivery of five new residential buildings at the White City Living regeneration scheme, each ranging from 21 to 33 storeys in height. Later that same month, Taylor Wimpey hired Statom and Trident for a range of civils and construction works for a mixed-use commercial, retail, and residential development, consisting of 530 new homes, at East Riverside, a former Poplar Bus Depot, also in the capital. Other high-profile contracts secured during the 2024 trading period included a new multi-storey car park extension at Bristol Airport, construction of a EFW facility at Tilbury Docks, on the Lower Thames, and the delivery of a 40-meter precast bridge spanning River Ouzel in Milton Keynes.
Value over scale
Statom’s financial performance in FY2024 was helped significantly by its strong operational activities, and those certainly were helped by a similarly robust financial result in the previous trading period, when the company delivered a 27 per cent increase in annual revenue of £143.2 million, underpinned by an operating profit of £9.1 million (FY2022: £8 million) and profit for the year of £6.2 million (FY2022: £5.9 million). It is also understood the Trident acquisition added £19 million to group revenue for the year ended 30 November 2023. More recently, Statom has significantly enhanced its geotechnical and deep foundations capabilities, with the acquisition of Franki Foundations UK, part of the Belgian international contractor BESIX Group, for an undisclosed sum. With more than 20 years of operations that include the delivery of complex foundations packages across the country, Franki Foundations is a brand Statom bosses have confessed they wanted to bring into the group “for a while”, not least for its piling and deep foundations capabilities, but because the business is on track to deliver a turnover exceeding £40 million this year.
In a recent financial statement, Statom’s leadership team revealed that what lies at the core of the specialist engineering contractor’s business is a “relentless pursuit of innovation”, which denotes value for its clients, while providing a fresh approach to methods of delivery for the contractor, as it consistently seeks to strengthen its offering and position within the wider construction market. “As we press forward, it remains a key driver in our progress and growth,” bosses said. “Our commitment to value-based practices is attracting clients and projects that align with our expertise. Rather than chasing scale, we prioritise profitable projects that suit our unique value proposition.”
Was this interesting? Try: *Construction legends: 10 amazing founder stories
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