Reds10 adds chairman and CFO hires to accelerate £500m scale-up

Reds10 Group has strengthened its senior leadership team with a chairman and chief financial officer (CFO) appointment, including a former Wates Group executive, as it accelerates plans to scale towards £500 million turnover and expand its industrialised construction business.

The modular construction expert has appointed former Wates executive Steve Beechey as chairman, alongside Matt Thorpe as group CFO, to support its next phase of growth.

Beechey joins from Wates Group, where he spent more than 15 years in senior leadership roles including group investment director, group strategy director and group public sector director, and was a long-standing member of the executive committee.

During his tenure, he led major programmes across defence, education and justice, helping to shape long-term public-private partnerships and delivery models across the UK public sector.

In his new role, which begins in July, he will focus on supporting Reds10’s expansion and advancing its industrialised construction model across key growth markets, including the public sector.

His appointment follows Thorpe’s arrival as group CFO, further strengthening the group’s senior leadership team as it positions itself for sustained growth.

Thorpe brings more than 15 years’ experience from a top‑10 accountancy practice, including nearly a decade as a senior partner leading construction and private business teams for clients with turnovers from £10 million to £300 million, providing Board‑level financial leadership.

Reds10 chief executive Paul Ruddick said Beechey’s experience would be “invaluable” in the firm’s “next phase of growth”, with Thorpe described as a “strong addition” as it accelerates its mission to transform construction delivery through Modern Methods of Construction.

He added: “[Beechey’s] insight and leadership will help us scale our model and accelerate our mission to industrialise construction.

“Personally, I am also looking forward to working closely with him and benefitting from his guidance and mentorship as we continue to develop both the group and my role as CEO.”

Beechey said he was joining at a “pivotal moment” for the company, highlighting its focus on innovation and industrialised delivery as central to its growth strategy.

Under a recent restructure, Ryan Geldard was promoted to CEO, while Ruddick became group CEO.

Its latest appointments come as Reds10 continues to scale, with turnover of £144.7 million, an operating margin of 4.8 per cent and a £350 million order book, as it targets £500 million revenue.

The group is also looking to expand into healthcare, affordable housing and temporary accommodation.

Last month, it made a strategic but undisclosed investment in steel fabrication specialist ESL Fabrication Engineers (ESL).

If you have a story that fits with our publication, email: danielle@wavenews.co.uk