Following McCarthy & Stone’s successful £527 million refinancing in August 2013, Britain’s leading builder of retirement apartments has appointed a new Chief Executive Officer. Clive Fenton, currently CEO of Mount Anvil, a specialist Central London residential property developer, will join the company on 17 February.
Clive has a wealth of house-building and commercial experience, having spent almost 30 years with Barratt Developments. He joined Barratt in 1983 and worked in a number of finance and operational roles before being appointed to the Group Board in 2003, with overall responsibility for all operations in the south of England. He was also responsible for Barratt Strategic Land and its Group Partnership Housing and Retirement Homes divisions.
Clive replaces Mark Elliott, who will leave McCarthy & Stone in February, having been part of a management team that successfully brought on board new shareholders who refinanced the company. In the latest financial year ending 31 August 2013, McCarthy & Stone reported a 21 per cent growth in revenue to £310.8 million and posted a 15 per cent increase in EBITDA to £46 million.
Chairman, John White, commented: “Clive has both extensive knowledge of all aspects of the house-building industry and a successful track record. His appointment is key to our growth strategy which seeks to fulfill the opportunity presented by a burgeoning market for retirement apartments.”
Clive Fenton added: “I have witnessed McCarthy & Stone becoming one of the UK’s leading house-builders and their adept specialisation in age-defined developments. Following the company’s successful refinancing last year, and an impressive set of figures, we have a solid platform to quickly grow the business further.”