Business & Economy
Norstead sets sights on record revenue as it celebrates 50th anniversary
May 20, 2021
Norstead, part of the Newcastle based Metnor Group, is celebrating being well on their way to record revenues and prestigious new client wins as it celebrates its 50th anniversary.
Norstead was established in 1971 and specialises in the design and installation of mechanical and electrical services in a number of commercial and industrial sectors. Part of the Metnor Group, the firm has the experience and financial stability to carry out multiple contracts with a typical individual project value of up to £30 million. Despite the challenges of the pandemic yielding tough results, turnover for Norstead is forecast to reach £40m in 2022, expanding from a turnover of £23.5m in 2019.
They have recently relocated into Metnor House, in Newcastle upon Tyne as part of their collaboration with sister company Metnor Construction, with another office in Maidenhead, Norstead lists some of the UK’s best-known companies as clients. The firm plans to secure new offices in Maidenhead later this year and create up to 10 new roles to support its ambitious expansion plans and bolster their engineering and commercial teams.
Recently completed and current projects in the pipeline include the development of the White Room at the British Museum, the critical care project at Chelsea and Westminster hospital, the Hyatt Hotel in Whitechapel, London and Thames Hospice in Bray.
Earlier this year, Norstead embarked on its most exciting project to date with the development of Poole and Bournemouth NHS Trust with a combined deal value of £25m. This has involved developing a micro village of Norstead on the South Coast and recruiting a local team, which in turn has brought a number of employment opportunities to the area.
Locally, the firm has been involved in the Gateshead Skills Scheme and the construction of the Seaburn Inn in Sunderland.
Earlier this year, Norstead promoted Dan Hopkins to Operations Director and Jonathan Grant to Commercial Director.
These key promotions support Norstead’s ambitious plans for growth, demonstrating its commitment to investing in talent and expanding the business on the back of a number of new client wins.
Jonathan Grant, commercial director at Norstead, said: “Like many other businesses in the construction sector, the pandemic has delivered challenges for Norstead but by being agile and adapting to those changes, we’ve kept our staff safe while delivering prestigious projects. Our team is led by construction professionals which sets us apart from the competition and our transparent partnership approach is paying dividends with a number of record new wins.
Dan Hopkins, operations director of Norstead said: “Thanks to our fantastic staff, amazing clients and loyal supply chain we’re delighted to be celebrating our 50 year anniversary. For Norstead, like many companies in the trade, the last two have been some of our most challenging but in that time, we’ve made significant changes to the business, defining and driving home our core values and bringing in new operational and commercial professionals to add to our existing team.
These changes are already making a difference and we’ve got a strong order book as we go into the second half of 2021 and beyond. It’s an exciting time for all of us at Norstead and I’m optimistic about the years ahead.”