Reds10 has appointed Ryan Geldard as chief executive as part of a restructure that sees founder and chairman Paul Ruddick becoming chief executive of the firm’s parent group.
Geldard, who had been managing director for offsite at Reds10, assumed day-to-day leadership of the contractor from today (1 April).
The business said he would lead its push to expand industrialised construction methods and increase the use of artificial intelligence across operations.
Reds10 said the new group structure will bring together nine businesses spanning industrialised construction, temporary modular hire, fit-out, mechanical and electrical (M&E) services, apprenticeships, lifting, doors and furniture manufacturing.
The contractor works mainly for public sector clients in defence, education, justice and health, and has also targeted temporary accommodation and social housing.
Ruddick said the restructure followed investment in manufacturing and data systems and was intended to support the business’s next phase of growth.
The move came after Reds10 reported revenue of £144.7m and an operating margin of 4.8 per cent for 2024/25 in its latest results.
The firm said it was targeting revenue of £500m and planned to expand further into healthcare, affordable housing and temporary accommodation.
Reds10 manufactures its buildings at Driffield in East Yorkshire, where it operates five factories with a combined floorspace of about 27,900 square metres.
Ruddick will remain chairman of Reds10.
Source: Reds 10 press release
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Colin Marrs