The appointment comes as the company continues rapid growth plans. Torsion was formed out of the remains of the failed GB Group in 2015. Its last filed accounts show turnover of £41m in 2018, up from £30m the previous year. This year turnover is set to surpass £150m after winning five new contracts.
The growth has come from building multi-occupancy residential schemes, such as student accommodation and care homes.
Jonathan Payne is joining Torsion Group as managing director as part of the wider restructuring programme of the group of Torsion companies.
It has not been disclosed what role Gary Walton now takes; he joined from Shepherd Construction less than two years ago as managing director.
The new managing director, Jonathan Payne, worked with Torsion owner/founder Dan Spencer briefly during the end-days of GB Group. He started his career as a quantity surveyor at John Laing Construction, before spending 21 years at Willmott Dixon. Following that brief spell at GB Group, he joined Kier Construction in 2015 as southern region managing director. In 2018 he was promoted to director of Kier Construction with overall responsibility for the enlarged Southern & Thames Valley region.
The appointment of a new MD comes on the back of £110m of new contract awards –two from external clients and three from sister company Torsion Developments, including student accommodation schemes in Birmingham and Lincoln.
Chief executive Dan Spencer said: “We have worked extremely hard to deliver our five-year strategy since forming the company and the appointment of Jonathan will ensure we have the continued success and leadership of Torsion Group. It is an exciting time, and our growing pipeline of student and residential schemes in Torsion Developments and the emergence of the Torsion Care business will continue to provide opportunities. Jonathan joining the business to lead and strengthen Torsion Group is a huge milestone for the wider group of companies, and I look forward to many successful years together as we look to implement the next five-year strategy.”
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