{"id":624034,"date":"2023-03-31T13:52:06","date_gmt":"2023-03-31T18:52:06","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/31\/switch-from-tier-one-to-the-regions-refreshes-caddick-md\/"},"modified":"2023-03-31T13:52:06","modified_gmt":"2023-03-31T18:52:06","slug":"switch-from-tier-one-to-the-regions-refreshes-caddick-md","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/31\/switch-from-tier-one-to-the-regions-refreshes-caddick-md\/","title":{"rendered":"Switch from tier one to the regions \u2018refreshes\u2019 Caddick MD"},"content":{"rendered":"
\n

Caddick Construction managing director Paul Dodsworth talks acquisitions, expansion and the \u2018rodeo horse\u2019 of price inflation<\/em><\/strong><\/p>\n

Caddick Construction managing director Paul Dodsworth may have been in the job for almost nine months, but the \u201cagility\u201d of working at a regional contractor was still springing some surprises, he said.<\/p>\n

Dodsworth (pictured) moved to the Yorkshire-based firm from Wates, where he was the director of northern operations. In his first interview since he was appointed to the Caddick role<\/a> last July, he told Construction News <\/em>that a regional contractor can change tack or respond to a client\u2019s needs more quickly.<\/p>\n

\u201cIt\u2019s really refreshing,\u201d he said, adding that he always has a \u201clittle smile\u201d when asked about the move from a tier one contractor to a \u201cmore regional firm\u201d.<\/p>\n

As Dodsworth noted: \u201cCaddick does the jobs worth \u00a37m and the jobs worth \u00a3100m \u2013 and everything in between.\u201d<\/p>\n

As a bigger organisation, Wates was more hierarchical. At Caddick, Dodsworth said, he can take decisions and resolve issues more quickly.<\/p>\n

It was that agility that allowed Caddick, which posted a turnover of \u00a399m<\/a> in its latest accounts, to move rapidly and buy facade specialist Speedclad out of administration<\/a> last October. The \u00a319m-turnover firm, which had worked extensively with Caddick, has since been renamed CCL Facades.<\/p>\n

\u201cDid I plan to buy a facade contractor? Well, the answer’s no. That wasn’t strictly my plan,\u201d said Dodsworth. But Caddick still bought the firm within seven days of it entering administration, saving 10 jobs.<\/p>\n

The acquisition allowed Caddick to become more attractive to clients in need of good facade work. \u201cWe struggle a little bit in terms of finding really good, solid facade contractors,\u201d Dodsworth said.<\/p>\n

Now that the business owns a facade specialist, it can offer that expertise \u201cfrom a really early stage\u201d, he added. \u201cI think it’ll give us an edge in terms of our clients interfacing with them \u2013 we’ll add extra value to our clients. We see that as a real plus.\u201d<\/p>\n

Caddick Construction is \u201cvery heavily private-sector-focused\u201d. But Dodsworth is planning a foray into the public sphere, to soften the impact of any possible recession.<\/p>\n

\u201cI would like to bring some balance to our portfolio \u2013 insofar as I would really like to see us getting onto some frameworks and getting a bit more local authority work,\u201d he said. \u201cHeaven forbid if we had a big recession, the private sector cools off and the public sector kick-starts.\u201d<\/p>\n

Much of Caddick Construction\u2019s work is also in-house, for firms including its build-to-rent arm<\/a> Moda Living, which Caddick owns<\/a> in a joint venture with real estate firm Generate Land.<\/p>\n

The new focus on frameworks comes with a decreased interest in single-stage design-and-build contracts \u2013 or as Dodsworth called them, \u201cdesign and dump\u2026 where a client just dumps all the risk with you\u201d.<\/p>\n

Caddick Construction\u2019s pre-tax profit ticked up to \u00a32.6m in the year to September 2021, the latest year it has declared results for, from \u00a384,000 in 2019\/20. Turnover was also up by around 50 per cent, from \u00a367m to \u00a399m.<\/p>\n

The business is part of the \u00a3383m-turnover Caddick Group.<\/p>\n

With the new focus on public work, Dodsworth said he expected growth to continue \u2013 but emphasised it will be \u201csustainable [and] controlled\u201d, adding: \u201cWe are not looking to conquer the world.\u201d<\/p>\n

In other words, Caddick aims to also stick to its existing focus on the residential and logistics sectors.<\/p>\n

Dodsworth did say that the firm wanted to \u201clook at new geographies in the fullness of time\u201d but he was coy with any details, saying \u201ca lot of analysis\u201d was underway.<\/p>\n

Caddick has not been immune to the myriad challenges facing the construction sector in recent years, with the cost of steel hitting Caddick hardest of all. \u201cYou were fixing steel prices for a day, not a week, and not a month,\u201d he recalled.<\/p>\n

Dodsworth expects the high material price inflation of the last year to soften, though he will be keeping a \u201ccautious eye\u201d on the situation. \u201cDo I think prices are going to go back down anytime soon \u2013 no.<\/p>\n

\u201cBut I think the days of prices being like a rodeo horse are gone. It feels much more steady. I got sick of delivering bad news to clients that the price had gone up.\u201d<\/p>\n<\/p><\/div>\n

Read More<\/a>
\n Joshua Stein<\/p>\n","protected":false},"excerpt":{"rendered":"

Caddick Construction managing director Paul Dodsworth talks acquisitions, expansion and the \u2018rodeo horse\u2019 of price inflation Caddick Construction managing director Paul Dodsworth may have been in the job for almost nine months, but the \u201cagility\u201d of working at a regional contractor was still springing some surprises, he said. Dodsworth (pictured) moved to the Yorkshire-based firm<\/p>\n","protected":false},"author":1,"featured_media":624035,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26349,2438],"tags":[],"class_list":{"0":"post-624034","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-regions","8":"category-switch"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/624034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=624034"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/624034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/624035"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=624034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=624034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=624034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}