The Stepnell Group has announced a second demerger in two years, splitting companies among the Wakeford family in order to aid progression
As part of the demerger, shareholders Peter, Tom, Ed, and David Wakeford will handle the construction, property management, and property investment elements separately, each owning a company within the group.
Stepnell Ltd will also retain its current leadership team. Tom will continue as the head of Step Energy, the Group’s decarbonisation and renewables business, and Ed Wakeford will continue as the lead of the property and development business.
The demerger will increase confidence in leadership
Demergers have been known to increase instability in a company. However, the Wakeford family is certain this will not be the case and that it will increase confidence in leadership across the businesses.
A Stepnell Group shareholder collective statement said: “The effect of the demerger will positively benefit current and potential clients providing clear leadership for each of the respective businesses and their employees.
“Operating the group as independent businesses will enable us to be more agile to focus on our clients, boosting these robust businesses in our chosen markets – and creating greater potential for each business to expand, invest and further improve the offering to its clients and employees.
“We aim to conclude the demerger in January 2025; the businesses will continue to deliver for our clients and stakeholders as we transition into full demerger.”
This is the second Stepnell Group demerger in two years
The first Stepnell Group demerger occurred in 2022 when Stepnell was overseen by Tom and Ed, and Mark and Richard Wakeford took over Evoenergy, Brackley Investments, Whitecross PFI, and Aspen Retirement.
At the time, Tom Wakeford said: “This is a totally amicable arrangement and has been part of a longer-term plan. It allows each director to follow their passions and particular interests. While the two groups will be entirely separate, we fully expect that there will be beneficial synergy to respond to common opportunities.”
