Growing a Family Construction Business to £75M Revenue (ft. Mitesh Vekaria)

In this episode, Tom Griffiths speaks with Mitesh Vekaria, Managing Director of Vascroft Contractors, a family-owned construction business specialising in hotels, luxury residential developments, and complex high-end building projects.Mitesh shares the story of the company’s origins, founded in 1977 by his father and uncle as a small carpentry and labour operation. Over the decades, the business evolved into a full-service contractor with extensive in-house capabilities, including joinery, mechanical teams, steel fabrication, and specialist craftsmen. This structure allows Vascroft to deliver projects from concept to completion while maintaining a high level of control over quality and execution.The conversation explores Mitesh’s journey into the business after leaving a career in property and real estate in the City. Shortly after he joined the leadership team, the company faced a sudden transition when his uncle—then Managing Director—passed away unexpectedly. Mitesh reflects on the lessons learned around succession planning, operational transparency, and leadership resilience during that period.A key topic discussed is the strategic restructuring of the company. After buying out non-operational family shareholders, the business streamlined its ownership and governance structure, creating stronger incentives for the active leadership team. Mitesh explains how this shift enabled the company to introduce long-term incentive plans and build a more engaged senior management structure.Another major strategic decision was the move to withdraw from international operations and focus entirely on the UK market. By simplifying the business and concentrating on its strongest geography, Vascroft was able to grow steadily from approximately £13 million in turnover in the early 2000s to around £75 million today.Throughout the episode, Mitesh emphasises the importance of maintaining a family-business ethos, prioritising long-term client relationships, investing in skilled employees, and delivering exceptional service. He also highlights the company’s commitment to charitable work through the Vascro Foundation and raises concerns about the construction industry’s growing shortage of skilled apprentices and tradespeople.Contact Mitesh here: https://www.linkedin.com/in/mitesh-vekaria-real-estate-property-construction