central south mid market 17 ESSENTIAL GROWTH INNOVATIVE INTERNATIONAL
design-registered products, leading a global niche market. That complexity of knowledge and supply makes us hugely difficult to replicate.”
Looking forward, his management team will battle with currency volatility, grow new markets, explore
‘smart’ products. “Powered and integrated high-end products will be our future, and we are on the edge of that market.”
With skill shortages, attracting and retaining good people will also be key.
“Getting able people who accept change and want to sustain growth achievement can be very difficult.
“We aim to create an enjoyable working environment, but ultimately you just have to make your business work – for everyone concerned.”
CASE STUDY: THE WALTET GROUP
Turnover: £14m Sites: Southampton HQ (Waltet Materials), recycling facilities at Romsey (RF Salvidge Farms) and Alton (Hutchings & Carter)
Staff: 110 (45 eco-friendly skip, grab and tipper lorries)
Scope: UK market for ethical commercial waste collection, and supply of recycled construction materials and services. Main southern England source of tarmac road planings
Joint MDs Mark Howard and Dan Newbold are a winning partnership, that has achieved success through a mixture of industry knowledge, market awareness, entrepreneurial drive laced with commercial bravery and opportunism, plus ‘green agenda’ good fortune.
With Howard’s extensive experience in quarried materials and Newbold’s in civil engineering, the pair realised in the early 1990s that construction materials supply was under pressure. And, with the Government ‘green agenda’ introducing progressive landfill taxation in 1996, recycling of potential construction waste seemed viable. “We took the plunge, left our jobs and pursued a business gamble.”
Newbold and Howard’s industry awareness and contacts enabled Waltet’s business growth, gained contracts – notably one for tarmac planings for Solent roads gained through Tetlaw from which the company name was derived – and importantly a trusted business reputation for reliable quality supply.
That served them well, kept doors
BDO partner David I’Anson (right) and tax director James Tetley (second left) present Waltet’s Mid Market Company of Tomorrow award to Dan Newbold (left) and Mark Howard
open, when the recession hit in 2008. “Twenty years on our reputation continues to underpin the business.”
Waltet doubled its annual revenues in its formative years, but when turnover stuttered Howard and Newbold took well-considered risks, self-financed development projects and determined the company’s destiny with positive action.
It established its own skip and haulage fleet, was first to arrange local night-time supply-collect contracts with road contractors, then in 2006 it bought RF Salvidge Farms as its future recycling site. “We took advantage of the fertile ‘green business’ environment at that time.”
And Waltet proved its capabilities within an increasingly ‘green-aware’ political and social world, not least in gaining recycling consent for RFSF from Hampshire County Council, and trading well through the recession.
In 2011, Waltet diversified again THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MARCH 2016
through another calculated gamble by acquiring Hutchings & Carter, a second recycling facility but also a provider of full groundwork, contracting and tarmac surfacing services. This created “a perfect foundation for regional full service recycling”, fully owned, hence controlled, by Waltet.
“We’ve never had a problem making quick decisions. We think alike, are willing to take on business opportunities, while accepting that we might lose,” said Howard.
Today, Waltet’s facilities recycle on average 80% of every builder’s skip and 90% of all inert non-hazardous waste. “It was very hands-on to get things going, we knew our business objectives, our destination, but our journey hasn’t been simple or ‘as- planned.’
“Along the way we have gained fantastic quality people, able to accept change and still deliver what our customers require.” Staff
www.businessmag.co.uk
empowerment, internal training and industry knowledge are integral to the company’s organic and strategic growth objectives.
“Despite not crowing about our success, people know about Waltet and want to work for us.”
While totally behind the governmental ‘green agenda’, Howard and Newbold reluctantly accept the industry’s increasing regulatory requirements. “It’s arduous but we’re willing to do it and adapt because we are involved in a serious lifestyle change. ‘Green’ is becoming the norm, and in our industry if you are not flexible you will not grow.”
Through a combination of astute business decisions and a lean management structure, Waltet is now in an enviable position. It owns all its sites, trucks and recycling technology, has spread its risks across a group of co-working companies, and is well placed for significant future growth.
“The next 10 years will bring challenges, but we have the luxury now that when we react, if we acquire something, it won’t be to solve a problem but to make our business better.”
To see BDO’s list of the 20 Central South Mid-Market Companies of Tomorrow contact Cheryl Martin: 023-8088-1700
cheryl.martin@
bdo.co.uk
Specific target-setting can be counter- productive, says FitzGerald. “You must have longer term objectives, but I am a one-page business plan fan.
“I believe we’ve got a good five years ahead, and could become much bigger.”
CONFIDENT VITAL
AMBITIOUS
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