Jack Lovell of Morgan Sindall. This is a short biography of Jack Lovell who was one of the leading figures in Morgan Sindall, a large publicly listed construction company in the UK. The point of the biography is to take a look at anything we can learn from this successful contractor to use in our property dealings.
Morgan Sindall Group is a large construction company consisting of several divisions including:
Jack Lovell co-founded Morgan Sindall with John Morgan in 1977 when it was just called Morgan Lovell. In 1985 they bought a company called Overbury which was established in 1942.
In 1994 it bought William Sindall public limited company which was established in 1860. This formed the Morgan Sindall Group public limited company. This was a reverse take-over where the unlisted company took over the listed company.
In 1998 Morgan Sindall bought Lovell partnerships which was a large house builder. In 2007 it bought the construction division of AMEC and in 2010 it bought the maintenance division of Connaught plc.
His family were involved in construction social housing.
He went to Reading University and studied estate management. He met John Morgan there. John’s family were already involved in property development
After university he formed a construction company with John from a small office in Golden Square, Soho. They were both in their early twenties. It was a very small office and had no phonelines. They sublet half the space and used the public phone-boxes in nearby Carnaby Street.
Jack and John were both entrepreneurs running various schemes. They ran small pub promotions and a small clearance and second hand furnishing business while getting their construction company off the ground. The construction company was involved in carpet laying and refurbishing offices. This eventually evolved into an office interiors business by 1979. By 1981 the business had a turnover of over four million pounds which was huge.
He has grown the company by buying existing operations and letting them grow their own businesses. He believes in a decentralised approach with separate profit centres. All individual parts of the business act on their own initiative and work to an overall business plan.
Quiet – not a lot of information out there about him
Lovell left the business in 2004 and sold a proportion of his shares. However he still retained significant shares in the business and is worth around £30m.
1. Exit plan. He left Morgan Sindall very early around fifty years of age. He cash in some of his chips and has enjoyed early retirement. His co founder John Morgan has worked on building the company even bigger but who is the better for it?
2. Low profile. There is very little information about the guy in Public. He would definitely not be recognised in the street and is free to enjoy his wealth.
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