At MIPIM this year, whispers began circling that commercial building consultant Malcolm Hollis was about to end more than two decades of independence and merge with listed property, infrastructure and outsourcing giant Capita.
Talks progressed and by the end of March 2015 a deal looked imminent, but just a few weeks later discussions ended, leaving Capita to snap up GL Hearn six months later instead.
For Malcolm Hollis, its decision to remain independent allowed it to refocus on its plan and to deliver the growth it sought, organically and ahead of schedule.
Senior partner John Woodman (pictured) says the decision was “for the good of staff and clients”.
Last week, the firm was the shock winner of the national adviser of the year category at the EG Awards. It was the first time in 10 years of EG Awards that a mid-sized independent firm had picked up the big gong of the evening. Past winners include JLL, Knight Frank, Savills, Cushman & Wakefield and CBRE.
The firm was awarded for being highly motivated and passionate, two attributes that make it a “fierce contender” despite its size, said judges.
Two years ago the firm set itself a target to double in size by 2016 – a goal it achieved this year.
“Our headline for the year has to be our financial performance,” says Woodman. “We crossed the £20m turnover threshold for the first time in our 23-year history. This represents an annual
turnover growth of more than 40%, up from £15m and beating our projected turnover by £3m.”
Profits have soared too, up by 38% to nudge £6m this year. And the firm is capturing more and more business, with instructions increasing by 28% over the year to just less than 6,000.
So, with a potential sale comfortably behind it and future targets already met, where does the focus for the business
now lie?
For Woodman it is firmly independent. The abandoned sale does not mean there are plans to flirt with anyone else, especially now the business has been recognised for its strength alone.
“We are looking to cleverly diversify our business so it can ride the peaks and the troughs of the market,” says Woodman.
That means doing more public sector work, opening new offices in mainland Europe and establishing new service lines.
Around 90% of Malcolm Hollis’s client base is private sector and its established services lines include dilapidations, project consultancy and building surveys. And those are divisions that have served the business well.
“Building surveying has always been good at riding the peaks and the troughs,” says Woodman. “Buildings always need to be maintained.”
But for growth, new areas need to be explored. This year the company has launched mergers, acquisitions and restructuring, leasehold advice and energy consultancy divisions. It is also looking to become a right-to-light specialist, seeking to fill a gap in the measured survey market.
And in terms of international growth, the firm opened its first European office in Madrid in September, its 16th office in total. And it will not be the last. Another in Copenhagen, Frankfurt or Amsterdam is planned, plus more offices in the UK.
But it is not all work and no play. “We are a business about creating great opportunities for people but we don’t want to overdo the work side,” says Woodman. “We are very focused on wellbeing in the workplace. If you are a demanding business, you have got to get the other side of it right too.”
He adds: “We have a very flat structure. We are clear on what we are setting out to do. Everyone has a job and no one’s job is more important than another. Everyone knows their role in our business plan.”
And it seems that staff are buying into that. Over the past 12 months employee numbers at Malcolm Hollis have increased by 43% to 235. The firm has this year rewarded 48 staff members, promoting three equity partners, three partners and four senior associates, among others.
“We actively manage everyone,” says Woodman. “You have to surround yourself with good people. You have to know your limitations and your strengths. Do the things you are good at and bring people in to do those things you are not so good at.”
And it is a focus on delivering this best service that has not only helped Malcolm Hollis see off the big boys at this year’s EG Awards but has boosted client numbers, enabling it to secure a 90% repeat business rate and continue to expand its workforce.
“How you service your client is the most important part of customer care,” says Woodman. “That is something we are very passionate about. And we don’t just think that for our customers. It is something we do internally.
“Our achievements are about everyone. They are down to a great team effort, to being one business.”
