Construction News

Wed December 12 2018

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Troubled Safestyle turns to Lovell

16 Jul Doors and windows supplier Safestyle has turned to construction turnaround specialist Alan Lovell to help return the business to profit.

Alan Lovell
Alan Lovell

Alan Lovell, aged 64, is the go-to man for construction businesses in distress. He first made his name as finance director of steelwork contractor Conder Group and was chief executive at the time of its collapse in 1992. He then moved to Costain, initially as finance director then chief executive. Costain was eventually rescued by Malaysian investors. After a few years running Dunlop Slazenger, Alan Lovell’s next big challenge in the construction industry was Jarvis, 2004-06.

More recently he was on the board of Sweet Group up until its acquisition by Currie & Brown in 2016.

Last November the board of Carillion brought him in to chair its restructuring committee as part of an attempt to put together a rescue package for the company during its final 10 weeks of trading.

Alan Lovell is also currently a non-executive director of SIG, Flowgroup and Progressive Energy, among others.

Bradford-based Safestyle UK bills itself as the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market. It issued a profits warning last week saying that it expected to make a loss in the current financial year but its turnaround plans were progressing.

Chris Davies, senior non-executive director of Safestyle UK , said: "I am delighted that Alan has agreed to join the board as chairman. His breadth of experience, both as a CEO and as a chairman, will be invaluable to the board and executive team and I am confident he will help to ensure we take advantage of the opportunities that will arise as the market returns."

Alan Lovell said: "I am pleased to be joining Safestyle at this important point in the company's journey. I have spent some time with Chris and the management team and it is clear that there is much to do both at an operational and board level. I shall be looking to strengthen the board to ensure that we have the best possible chance of working through the current challenges and delivering value to shareholders."

MPU

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