Utility infrastructure group Last Mile has announced the appointment of a new chief executive officer (CEO).
Richard Thomas joins from Ipsum where he served as CEO from 2020 to 2024, succeeding Mike Pearce who has stepped down from Last Mile after nine years.
Thomas brings experience in delivering growth and value creation, having overseen nine acquisitions and led Ipsum’s exit from Aliter Capital to IK Partners in 2023.
Before that, he held senior roles at A-Plant (now Sunbelt Rentals UK) before becoming chief executive where, under his tenure, revenue grew from £166 million to £475 million across 200 locations in the UK and Europe, while executing the acquisitions of LION Trackhire and Eve Trakway.
As CEO of Last Mile, he will drive the firm’s multi-utility solutions delivery to residential, commercial, and industrial sectors.
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Thomas said: “I am delighted to be joining Last Mile at this exciting time. The energy transition, coupled with Last Mile’s scale and ability to invest, present substantial opportunities to provide our customers with innovative, resilient solutions that achieve net zero.
“Last Mile’s significant expansion across multiple utilities and sectors is thanks to the strength and depth of its 800-plus staff. I look forward to bringing my own experience to that growing team and, with them, ensuring that we continue to deliver for all our stakeholders.”
Under outgoing CEO Pearce’s leadership, Last Mile has grown to become one of the UK’s largest independent providers, delivering more than 910,000 connections across electricity, water, wastewater and heat, with a further 730,000 in its pipeline.
Pearce said: “I am extremely proud of everything we achieved as a team during the past nine years. I would like to thank the staff and all our stakeholders for their support, and I wish Richard and the executive team every success in delivering the next stage of growth.”
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