Crestchic Plc
LOAD:LN
Overview
Company Profile
Crestchic plc hires and sells specialist power reliability equipment. With a product range comprising a wide range of loadbanks and transformers and depots, offices or agents in the UK, USA, The Middle East, Belgium, Germany, France, Singapore, China and South Korea, Crestchic has a global customer base. This includes utility companies, renewables, the oil and gas sector, data centres, shipping, banking, mining, construction and the public sector. Crestchic was admitted to AIM in 2006 since when it has grown by providing a high level of service, responsiveness and flexibility to customers.
Classification
Financials
Corporate
Board of Directors
Peter Harris
Executive Chairman
Peter Harris, aged 68, qualified as a chartered accountant having studied at Sheffield University. After a number of years in the accountancy profession he joined Borden Inc., a multinational food packaging and industrial product company, where he spent 13 years in a variety of senior financial roles. In 1994 Peter was appointed as finance director of RAC plc (formerly Lex Service Plc), a leading automotive services provider. In 1999 he became a group managing director of RAC plc, heading a number of businesses including Lex Transfleet, Lex Multipart, Lex Commercials, Lex Defence and RAC Software Solutions. In April 2006, following the acquisition of RAC plc by Aviva plc, Peter was appointed chief executive of Dawson Holdings plc, the media supply chain business, from which he retired in June 2009. Peter is also chairman of Atmaana Business Consulting Ltd and senior advisor to Chetwode SAS, a Paris-based financial services company, and a member of the Advisory Board of Sovam SAS, a French manufacturer of ground support equipment for the aviation industry. He stepped down as a member of the Remuneration and Audit Committees of the Company in 1 April 2021.
Iwan Phillips
Finance Director
Iwan Phillips, aged 36, studied at Warwick University before joining BDO in 2005, where he qualified as a chartered accountant in 2008. He spent five years at BDO, working on the audits of a variety of businesses but specialising in fully listed and AIM companies. Iwan joined Northbridge in 2010 as the Group Accountant and was appointed the Group’s Finance Director in 2016. He was appointed as Company Secretary in 2011.
Nitin Kaul
Non-executive Director (independent)
Nitin Kaul, aged 45, studied at King’s College and City Business School before joining Arthur Andersen in 1996, where he worked across various business lines in Europe, Asia and North America. He joined Tomkins plc in 2002 and spent over 13 years with the group in senior finance, M&A and operating roles, including heading various group businesses in the oil and gas vertical.
Judith Aldersey-Williams
Non-executive Director (independent)
Judith Aldersey-Williams studied at Cambridge and Harvard before qualifying as a solicitor in 1989. She began her career as a commercial and competition lawyer in the City of London with Travers Smith before moving to Aberdeen and joining CMS, where she became a partner in 2007. In 2022, Judith’s role at CMS changed to Of Counsel. In Aberdeen she has specialised in oil and gas law, advising operators and service companies, large and small, on regulatory issues, upstream contracts, procurement and construction contracts, IT and competition law. She is the Chair of the Audit and Risk Committee, Chair of the ESG Committee and a member of the Remuneration Committee.
Stephen Yapp,
Senior Independent Director
Stephen Yapp, 63, joined the Group in July 2020. Stephen has 25 years’ experience as a Director of public and private companies over the course of his career. He is also a former director of Downing Strategic Micro-Cap Investment Trust Plc, as well as several private companies, having held similar roles in other listed companies over recent years. Stephen is also a Fellow Chartered Management Accountant and holds an MBA. He became the Senior Independent Director on 1 April 2021.
Christopher Caldwell
Managing Director
Chris Caldwell, aged 56, joined the Group in 2008 as Rental Manager for the Crestchic Power Reliability division. Since joining Crestchic Chris has taken on positions of ever-increasing responsibility, culminating in his appointment as Managing Director of the division in 2016. Over this time, Chris has led many of the major growth initiatives of the business, including relocating Crestchic Germany to larger premises and bringing the sales agency in house, the start-ups of Crestchic USA and Crestchic France, establishing the UK rental hub in new dedicated premises adjacent to the factory HQ and setting up the Crestchic Service division. He also assisted in the negotiations and subsequent acquisition of Crestchic Transformers from DSG, for which he has now assumed executive responsibility. An electrical engineer by background, with over 30 years of experience in equipment rental, Chris has, during his time at Crestchic, successfully negotiated and overseen many loadbank rental projects around the world. He was previously the National Operations Director at SLD Pumps and Power.
Nicholas Mills
Non-executive Director
Nicholas Mills is employed by Harwood Capital LLP, which holds 24% of the Company’s issued share capital. Nicholas joined Harwood Capital LLP in January 2019 after spending five years at Gabelli Asset Management in New York. He acted primarily as a research analyst covering the multi-industrial space and also gained experience in merger arbitrage strategies and marketing closed end funds. He currently sits on the board of Circassia Group Plc and Hargreaves Services Plc as a non-executive director. He has a Bachelor of Science degree from Boston College’s Carroll School of Management.