Van Elle

Van Elle Limited
IndustryDeep foundation, Track (rail transport)
Founded1984 (1984)[1]
HeadquartersNottinghamshire, East Midlands, United Kingdom
Revenue£43.1m UK (2016)[2]
£3.2m UK (2016)[2]
ParentStrabag
Websitewww.van-elle.co.uk

Van Elle is an English piling and rail infrastructure company based in Nottinghamshire, between Pinxton and Kirkby-in-Ashfield. Once listed on the sub market of the London Stock Exchange AIM, the company was acquired by Austrian contractor Strabag in June 2026.

History

The company was founded in 1984 by the structural engineer Michael Ellis, who served in senior leadership roles at Van Elle for many years.[3][1] Three years later, Van Elle purchased the Hoopsafe System, which it subsequently developed into the Smartfoot precast concrete foundation beam system. In 1997, the company acquired A&G Stevenson, which it promptly rebranded as A&G Drilling and Grouting and operated as Van Elle's ground stabilisation unit.[4]

In 2003, Van Elle was subject to a management buyout that was centred around a number of the firm's senior directors. That same year, the firm formed a new unit, Van Elle Geotechnical Services, to conduct ground investigation and pile testing, and established a Nottinghamshire-based precast concrete production centre.[4] Three years later, a dedicated transport division was established. In 2012, Van Elle Rail was formed.[4]

In June 2015, it was announced that Van Elle’s annual turnover had risen 57 percent from 2014's £46 million to £72.5 million for the year to April 2015. Furthermore, profit more than tripled, from £2.8 million to £9 million, while headcount grew from around 300 to over 400.[5]

In October 2016, the company was floated on the AIM sub market of the London Stock Exchange, achieving a market capitalisation of £80 million; Van Elle was forecasting revenues for 2016 approaching £85 million.[6] Two months later, Ellis stepped down from the chairman's position with the intention of retiring.[3]

In early 2017, the firm's turnover dropped on account of delays in several of its rail projects.[7][8] Around this time, Van Elle was reportedly negotiating with multiple firms towards their potential acquisition.[9]

In November 2017, Ellis started an attempt to remove the company's chief executive Jon Fenton and a senior independent director, Robin Williams, citing concerns about the company's management, departures of key staff and financial forecasts.[10] During the dispute, the company faced questions after it wrote off more than £330,000 of work building a new house for Fenton (who announced he would be stepping down from the company due to a family illness),[11] while Ellis accused Van Elle directors of making personal attacks ahead of a shareholders' vote in December on returning him to the board. The board rebutted Ellis's criticism, accusing him of damaging the company.[12][13][14] At the shareholders meeting, Ellis's bid to return to the board was rejected.[15][16] In September 2018, shareholders rejected proposed pay rises for the company's directors.[17]

In January 2018, the company warned it would potentially lose £1.6 million as a result of the collapse of Carillion, for whom it was working as a subcontractor on projects for Network Rail.[18][19] Van Elle also reported uncertainty relating to £2.5 million worth of future work for Network Rail, with a potential impact on future financial results; it was due to this uncertainty that work was halted on multiple Network Rail sites until a new agreement was in place.[20][21]

Interim results for the year to 31 October 2017, showed the firm made an underlying pre tax profit of £5.4 million on a turnover of £52.6 million.[22] In January 2019, Van Elle reported pretax profits down 54 percent to £2.4 million as turnover fell 18 percent to £42.9 million in the six months to 31 October 2018, which its CEO attributed Carillion's collapse for the profit slump.[23] Two further profit warnings followed as its share-price halved ahead of its annual results announcement in July 2019.[24][25]

Results for the year to 30 April 2019 showed a 56.5 percent fall in pre tax profits (to £4 million from £9.2 million) as turnover dropped from £103.9 million to £88.5 million; during the year, the company's share price fell from 82p to 35p, valuing the company at £29 million.[26] The 2020-2021 COVID-19 pandemic caused Van Elle to declare a loss of £700,000 for the six months to 31 October 2020, with revenues down over 20 percent to £38.3 million.[27] In the year to April 2021, the firm reported a pre-tax loss of £1.4 million, following its £2.2 million loss in 2019, with revenues stable at £84 million.[28] However, the company returned to profitability in the half year to October 2021.[29][30]

In October 2023, Van Elle strengthened its presence in southeast England through the acquisition of rival firm Rock & Alluvium from Galliford Try in a deal worth up to £3.8 million.[31] In May 2024, the company announced several cost efficiency measures, including job cuts.[32] In October 2024, the firm purchased the Scottish-based drilling specialist Albion via a transaction valued up to £3.5 million.[33][34]

In January 2025, Van Elle signed an eight-year partnership agreement with the electrical transmission contractor Wood Transmission & Distribution, which was reportedly valued in excess of £30 million.[35][36] In May of that year, it enacted a £2.9 million five-year agreement with WS Specialist Logistics Limited, under which Van Elle transferred its heavy goods vehicle (HGV) fleet.[37] In December 2025, it was announced that, via a £2.5 million transaction, the firm would dispose of its share capital and assets of Van Elle Canada Inc.[38][39]

In April 2026, the Austrian contractor Strabag submitted a £58.8 million offer to purchase Van Elle;[40] two months later, with the support of the majority of shareholders, the company was acquired.[41] Shortly after the transaction's completion, Van Elle's senior management team was reorganised, which included then-CEO Mark Cutler stepping down.[42]

References

  1. 1 2 "Van Elle needs me back, Ellis insists". Construction Index. 11 December 2017.
  2. 1 2 "Van Elle in negotiations to buy 'several companies' following stock market float". 19 January 2017. Retrieved 21 January 2018.
  3. 1 2 "Van Elle founder bows out". The Construction Index. 3 January 2017. Retrieved 21 January 2018.
  4. 1 2 3 "Our History". Van Elle. Retrieved 4 July 2026.
  5. ↑ "Van Elle's new rigs". The Construction Index. 17 June 2015. Retrieved 21 January 2018.
  6. ↑ Morby, Aaron (26 October 2016). "Van Elle raises £40m in stock market debut". Construction Enquirer. Retrieved 21 January 2018.
  7. ↑ "Piling contractor Van Elle is taking a small hammering itself from delays in rail sector contract starts". Construction Index. Retrieved 21 January 2018.
  8. ↑ Wilmore, James (22 March 2017). "Van Elle warns on revenue after rail contract delays". constructionnews.co.uk.
  9. ↑ Simpson, Jack (19 January 2017). "Van Elle in talks to buy 'several companies'". constructionnews.co.uk.
  10. ↑ Williams, Christoper; Tovey, Alan (11 November 2017). "Van Elle faces boardroom battle as founder seeks return". The Telegraph. Retrieved 21 January 2018.
  11. ↑ Williams, Christopher (28 November 2017). "Former chairman attacks Van Elle over £330,000 bill for chief executive's house". The Telegraph. Archived from the original on 28 November 2017. Retrieved 21 January 2018.
  12. ↑ Torrance, Jack (11 December 2017). "Founder steps up war of words with Van Elle board ahead of crucial shareholder vote". The Telegraph. Retrieved 21 January 2018.
  13. ↑ Garner-Purkiss, Zak (5 December 2017). "Van Elle board slams founder's power play". Construction News. Retrieved 21 January 2018.
  14. ↑ Robinson, Dan (12 December 2017). "Founder of Notts ground engineer Van Elle in boardroom battle to regain control". Nottingham Post. Retrieved 21 January 2018.
  15. ↑ "Van Elle shareholders shut down Ellis' bid to return". The Construction Index. 18 December 2017. Retrieved 21 January 2018.
  16. ↑ Ashwell, Emily (18 December 2017). "Van Elle founder's bid to return defeated". New Civil Engineer. Retrieved 21 January 2018.
  17. ↑ David, Price (19 September 2018). "Van Elle shareholders revolt against directors' pay". constructionnews.co.uk.
  18. ↑ Morby, Aaron (16 January 2018). "Carillion fall-out hits Van Elle and Speedy". Construction Enquirer. Retrieved 16 January 2018.
  19. ↑ Garner-Purkis, Zak (25 July 2018). "Carillion and bad weather dent Van Elle profit". constructionnews.co.uk.
  20. ↑ "Derbyshire company warns of 'adverse financial impact' after Carillion collapse". Derbyshire Times. 18 January 2018. Retrieved 21 January 2018.
  21. ↑ Garner-Purkis, Zak (26 January 2018). "Carillion: Subbies halt work on several Network Rail sites". constructionnews.co.uk.
  22. ↑ Prior, Grant (25 January 2018). "Van Elle reveals full cost of Carillion collapse". Construction Enquirer. Retrieved 25 January 2018.
  23. ↑ Sholli, Sam (17 January 2019). "Van Elle boss blames Carillion for profit slump". New Civil Engineer. Retrieved 17 January 2019.
  24. ↑ Prior, Grant (19 July 2019). "Piling specialist Van Elle issues another profit warning". Construction Enquirer. Retrieved 19 July 2019.
  25. ↑ David, Price (29 July 2019). "Keller reports weak demand in UK civils and commercial markets". constructionnews.co.uk.
  26. ↑ Prior, Grant (24 July 2019). "Profits halved at piling specialist Van Elle". Construction Enquirer. Retrieved 24 July 2019.
  27. ↑ "Covid sends Van Elle into the red". The Construction Index. 20 January 2021. Retrieved 20 January 2021.
  28. ↑ Morby, Aaron (17 August 2021). "Van Elle eyes return to profit after second year of losses". Construction Enquirer. Retrieved 17 August 2021.
  29. ↑ Morby, Aaron (31 January 2022). "Piling specialist Van Elle returns to profit". Construction Enquirer. Retrieved 31 January 2022.
  30. ↑ Clark, Tim (3 August 2022). "Van Elle returns to profit". constructionnews.co.uk.
  31. ↑ Morby, Aaron (26 October 2023). "Van Elle buys piling rival Rock and Alluvium for £3.8m". Construction Enquirer. Retrieved 27 October 2023.
  32. ↑ Butler, Rory (22 May 2024). "Van Elle announces further wave of job cuts". constructionwave.co.uk.
  33. ↑ Lorimer, Kerry (29 October 2024). "Van Elle swoops to acquire Scottish specialist for £3.5m". constructionnews.co.uk.
  34. ↑ Menteth, Thames (30 October 2024). "Van Elle buys Albion Drilling Group for £3.5M". geplus.co.uk.
  35. ↑ Morby, Aaron (20 January 2025). "Van Elle partners with Wood on power transmission jobs". Construction Enquirer.
  36. ↑ "Van Elle signs £30m agreement with Wood for delivery of electricity transmission schemes". scottishconstructionnow.com. 20 January 2025.
  37. ↑ "Van Elle offloads HGV fleet in £2.9m logistics deal". constructionnews.co.uk. 8 May 2025.
  38. ↑ "Van Elle exits Canadian market in £2.5m sale". constructionnews.co.uk. 15 December 2025.
  39. ↑ Morby, Aaron (15 December 2025). "Van Elle finds buyer for loss-making Canadian arm". Construction Enquirer.
  40. ↑ Morby, Aaron (9 April 2026). "Strabag swoops to buy piling specialist Van Elle for £59m". Construction Enquirer. Retrieved 9 April 2026.
  41. ↑ Morby, Aaron (29 May 2026). "Shareholders back Van Elle takeover by Strabag as profits slide". Construction Enquirer. Retrieved 29 May 2026.
  42. ↑ Morby, Aaron (18 June 2026). "Strabag UK rejigs Van Elle leadership after takeover". Construction Enquirer. Retrieved 18 June 2026.
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