Buy-out of roofing firm brings new confidence

May 1 2009 by Chris Knox, The Journal

A ROOFING company in Northumberland is confident that it can tackle the recession head on after being bought out by a national contractor last year.

Ponteland-based DW Tilley was sold last year to support services group Mitie for £7.5m cash, with a further £5m available depending on the future financial performance of the firm.

Bristol-based Mitie has now made good on its promise to invest in the company, despite the problems facing the construction market, with all 60 of its workforce remaining at its site in on the Meadowfield Industrial Estate.

The firm, which has seen its operations amalgamated with that of MITIE at its sites in Walsall, Manchester and Bristol, now has a turnover of £34m, up from £16m as a separate entity.

It now believes it is in a much safer position and better able to win contracts with the support of a larger company, which has already helped the firm invest in new IT equipment as well as provided extra training for its staff.

The firm is now working on a number of lucrative contracts since the purchase, including the first phase of a £1.5m job to re-roof parts of the Gateshead MetroCentre and a £1m nationwide public sector contract to re-roof the offices of employment service Remploy.