| Type | Strategic Business Unit |
|---|---|
| Industry | Project Management & Construction |
| Founded |
1885 (London) Acquired by Lend Lease Corporation in 1999 |
| Founder(s) | C. W. Bovis |
| Headquarters | London, United Kingdom |
| Area served | Global |
| Key people | Murray Coleman (CEO) |
| Services | Construction and project management |
| Revenue | see Lend Lease Corporation |
| Employees | 7,000 (approx) |
| Parent | Lend Lease Corporation |
| Divisions | Retail, Commercial, Residential, Telecommunications, Infrastructure, Multi-Sites |
| Website | www.lendlease.com |
Lend Lease Project Management & Construction (formerly Bovis Lend Lease, trading as Lend Lease) is the international project management and construction division of Lend Lease Group.
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Lend Lease Project Management & Construction was originally established by Charles William Bovis in 1885 in London as C. W. Bovis & Co.[1] It changed hands in 1908 when it was acquired by Samuel Joseph and his cousin, Sidney Gluckstein.[2]
Bovis was one of the few construction companies to go public in the 1920s, during which time it developed an extensive retail clientele, by far the most important and long lasting of which was Marks & Spencer. Central to the relationship with Marks was the pioneering Bovis System contract, designed to bring the interests of the contractor and client together: “the Bovis System pays the builder the prime cost of the work plus an agreed fee to cover overheads and profit. The client receives any savings during construction instead of the contractor.” [3]
During the war, Bovis built the munitions factory at Swynnerton and worked on Mulberry Harbour.[4] At the end of hostilities, Bovis resumed work for the private sector and in the early 1950s, the company moved into housing. Following the acquisition of Frank Sanderson's business in 1967, Bovis Homes expanded rapidly and became one of the largest housebuilders by the early 1970s.[5]
Frank Sanderson was to change radically the future of Bovis. He was appointed Managing Director of Bovis Holdings in January 1970, and Chairman and Chief Executive in August 1972. After a number of housing acquisitions, Sanderson attempted to obtain control of P&O by means of a reverse takeover. An initial agreement was followed by a boardroom and shareholder revolt at P&O and at the end of 1972 the merger failed. There was boardroom dissension, too, at Bovis and Sanderson was forced out in September 1973.[6]
One of Sanderson’s acquisitions, in 1971, had been Twentieth Century Banking, and two years later the secondary banking crisis created a run on deposits at the Bovis banking subsidiary. The crisis came to a head in December 1973 when National Westminster Bank refused to provide the necessary funds. A rescue of Bovis was inevitable and, ironically, the rescuer proved to be P&O: in March 1974 Bovis became a subsidiary of P&O.[7]
From 1985 the company was led by Sir Frank Lampl, who changed it from a British concern into an international contractor.[8] Bovis Homes was demerged in 1997, and floated on the London Stock Exchange.[9]
The company was bought by Lend Lease Corporation in 1999, at which time it became Bovis Lend Lease.[10]
In 2008, the company and a subcontractor abatement firm, the John Galt Corporation, were charged with numerous OSHA safety violations after a fire broke out and killed two firefighters at the Deutsche Bank Building, a Manhattan skyscraper being demolished in the wake of the September 11 attacks. The violations included an employee (Safety Manager) of ""Lend Lease's Project Management & Construction Business"" filling out a safety check list that identified a stand-pipe as being present and functional - when it was actually disconnected in a hard to see spot. The Firemen consulted the check list, thought they had a good system and proceeded up into the building to fight the fire. Only when they reached the dangerous area that was on fire, did they realize the system did not have any water pressure, and they died trying to retreat amid the confusion.[11] As of June 2011, two out of the three individuals charged in the associated manslaughter and criminally negligent homicide case have been acquitted. [12]
As of 17 Feb 2011 Lend Lease announced wider ranging changes to its group of brands. This announcement resulted in the retirement of the Bovis Lend Lease, Delfin Lend Lease, Vivas Lend Lease, Catalyst Lend Lease, Retirement by Design and Lend Lease Primelife brands and the instatement of Lend Lease as the primary and only brand across the business' operation's globally. Under the rebrand and internal structural changes, the company was re-identified as Lend Lease Project Management & Construction, and was no longer a separate entity, but "a strategic business unit of the Lend Lease Group.
The company has managed construction projects worldwide, including retail developments and airport terminals. Lend Lease's Project Management & Construction Business has a significant presence in Australia, Asia, Europe and the United States. Key sector expertise includes commercial, retail, residential, government, industrial and pharmaceutical.
As a major contractor in the UK, Lend Lease Project Management & Construction is a member of the UK Contractors Group, a grouping of leading firms from within the Confederation of British Industry.[13]
Major projects involving Lend Lease Project Management & Construction have included:
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