From its formation in Bristol in 1983, the Churngold Portfolio of Companies operates across a range of businesses, including groundworks, , civil engineering, land remediation and general building.
In its chosen business sectors Churngold strives to be the regional market leader.
Churngold adopts an entrepreneurial approach to new opportunities, including
- undertaking remediation contracts in South Africa and Portugal,
- diversifying into data hosting and
- securing an exclusive nine-year logistics contract as part of the Lancashire Waste PFI (Sold in 2011 to Viridor (Part of Pennon Plc)
The Churngold portfolio is structured as a “branded private equity” business with a small central office dealing with financials, banking, legal structures, company secretarial matters, insurance, acquisitions and divestments.
The requirements for each company / business is that it is self-sufficient, operationally and commercially independent, with management structures and qualified management / personnel appropriate to that business. With responsibility and control delegated to the management team of each unit, the organisation structure exhibited by the Portfolio is decentralised.
This is not an unusual model and reflects the diverse range of activities undertaken and the incentivisation of operational management linked to their responsibilities and the success of their business.
The companies have differing and varying Boards of Directors and shareholder bases / ownership. There are distinct and independent entities with Boards, shareholders and senior management appropriate to the activities and trades of that legal entity.