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Van Elle Limited
IndustryDeep foundation, Track (rail transport)
Founded1984; 42 years ago (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

[edit]

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

[edit]
  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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