News

Nigel McGinnity

Job Title: Chief Executive of Pel (a family-firm manufacturing shopfittings, furniture and stadium seating)
Age: 31

NIGEL McGINNITY TOOK OVER as chief executive of Pel five years ago, when the company was losing £4,000 a week. By last year he had managed to turn it into one of the most profitable shop fittings companies in the UK.

Earlier this year he led an MBO of the group, with funding from venture capitalist Lloyds TSB Development Capital.

The company wants to increase its turnover from around £70m this year to £150m-£200m, and is planning to make a number of acquisitions. But first the group needs a short period of adjustment, McGinnity says. 'The management buyout took a lot of time and resources, so we are having a six-month void of activity to allow us to refocus on the business.'

While continuing to manufacture shop fitting equipment and stadium seating, the group's main business is now retail and building services project management. Its customers include Gap, House of Fraser and Marks & Spencer. To reflect this restructuring, the company will be changing its name to Support Services Group.

'A number of years ago we were a manufacturing company with a services division. We now provide support and services.'

The company, which was bought by the MeGinnity family in 1989, now has a workforce of more than 350 staff. It is one of the biggest companies in its sector, and the most profitable, with a £160m order book.