1947
Leslie James Clark (1919 - 2004)
'Parvalux' derives from the latin 'parvulus' and 'lux' and means 'young light', alluding to the hopes that founder LJC had for the business.
1947 - Leslie James Clark (LJC) founded Parvalux, initially by rewinding electric motors from a small workshop in Romford, Essex. He was a qualified draughtsman and had some very unique ideas on flexible die-casting options, way ahead of his time.
1952 - The company moved from simply re-winding motors to designing and manufacturing complete gear-motor units for industrial applications. In 1957, after spending summer vacations in Bournemouth, 'LJC' decided to relocate Parvalux to the sunny coastal town.
With 'LJC' at the helm Parvalux prospered, and for another forty years continued to expand its product offer to cover a huge range of DC and AC electric motors and gearboxes, enabling the business to sell into a diverse range of markets and applications all over the world.
Even today it has an ongoing relationship with some of its first customers, an outstanding achievement and one that is a testament to the strength and values at the core of the business.
1980 to 1991
1980 - Steven's formative academic experience could be at best described as extreme but, even at a young age, he refused to give up. The austere environment proved to be the best incentive in the world to prosper and escape!
1981 - New opportunity to excel and lead sports teams and a new school as Head Boy. Steven also discovered Judo, a discipline that was to become a way of life for the next 6 years.
1984 - 3 A levels - Maths, Physics and Economics
1984 - LJC invited Steven to begin an engineering apprenticeship at the family manufacturing business commencing with four years on the shop floor, which gave him invaluable insights and a comprehensive knowledge base.
1985 - 1986 - British judo team (under 21's)
1986 - Steven's sharp eye spotted an opportunity and in parallel with working at Parvalux he committed to his first mortgage and entered the "buy to let" market; selling for £26k profit in nine months! He continued to refurbish flats and small houses making a steady profit that more than doubled his employed wage. At 21 a thirst for business and independence had firmly developed.
1990 - 1992 - Recession strikes and many businesses failed in the South. Steven had secured his financial position with cash in the bank, very fortunate timing for him.
1990 to 1998
1991 - 1994 - Property was cheap and demand for sheltered accommodation was growing rapidly. Spotting the potential, Steven bought distressed and often-empty hotels and began a social housing business in Bournemouth providing homes for 100 people. The first year's turnover was £250k and it grew year on year by 25% for the next 3 years.
The business became more regulated and often dangerous due to the social problems that many of the tenants had. After three years it was decided to apply for planning on three of the sites with the aim to develop or sell for a profit. Two of the sites were sold and the smaller site remained to develop into flats.
1994 - The Clark family took a share in the Mary Green Hotel in Brentwood, Essex - Over the next four years they expanded the hotel accommodation by 40%, grew the restaurant business to over £1m T/O and focused on attracting business guests during the week and weddings at the weekends. This was an exciting and altogether different industry and it inspired ideas for further diversification.
1995 - Marc Clark joined Steven bringing his instinctive talent and creativity to the first conversion of a guesthouse into flats. It was a difficult project and made a small profit relative to the hard work involved, which sparked thoughts about design and build as an alternative option, (removing the unknown costs associated with renovation).
1996 - Depressed local commercial property gave Steven the opportunity to enter the commercial market. A local Woolworth's site had been empty for two years and was purchased and used for a new family business venture providing beauty and retail in the high street. Three years later a London businessman approached them to sell. They did, but Steven retained the property and created a new fifteen-year lease for his first commercial tenant!
1996 - 2000 - As the residential market continued to experience positive growth Steven's decision was to further invest in development, resulting in seven major residential homes being built and refurbished. They also set new standards for achievable prices due to outstanding design, and quality.
1998 - The Mary Green hotel and the hotel market in general had been booming for the past three years and buyouts were at an all time high. The Clark family had received a number of approaches but always felt there was more to do before they considered an exit. However an offer was received that simply could not be ignored and the Mary Green Hotel was sold. The initial investment had reaped a twofold return and again timing was fortunate as just four months later the hotel market collapsed.
1998 to 2005
1998 - Steven and Marc Clark opened a bar and restaurant. Initially the intention was to buy the building as it was adjoining one already owned, but the freeholder could not be convinced to sell.
It was fun for three years but without critical mass it would only ever be a lifestyle choice. Sold to its best client for the first ever loss, albeit small, it was uncomfortable.
1999 - Purchased a minority stake in a new jewellery company called Links of London; it would turnout to be a fantastic investment and we forged relationships with some very creative individuals!
2001 - Further to Steven's progress in property acquisitions and development he purchased a three-acre site in the retirement area of New Milton and spent two years on planning for 38 houses. The plot was eventually purchased by a national developer for a significant return.
2002 - After 18 years of service Steven reached an impasse with the engineering business and left. The main reason was that he felt its vision for the future was not clear and it was being complacent and hostile to new strategies: The business, although profitable, had no plan for re-investment or new directions and had become sluggish and uncompetitive.
2002 - With the cash from the property sales to invest Steven decided to purchase a luxury car showroom from a "friend". Within a week of discussing the idea he had signed a medium term lease for 8 years. Ignoring all the basic rules when considering entering into a "new" business and focusing on the excitement and prestige of the business he forgot to ask the simple question of "why" his friend was opting out.
This naivety was to cost dearly. However, invaluable lessons were learnt, it taught that the business world is a mixture of two sorts of people, unscrupulous people and those who operate with integrity.
2002 - Steven's business focus reduced after discovering that his father, Maurice Clark, was diagnosed with a rare form of cancer.
2003 - Another blow to the business focus as LJC, the founder of Parvalux, was diagnosed with terminal cancer and given nine months to live.
2004 - LJC passes away – Steven Clark is asked by the shareholders of the business to return and evaluate the prospects for the company.
2004 - The engineering business begins to turn around. Parvalux begins to concentrate on bespoke value added units and reviews low cost supply chain, over the next three years the business begins to improve.
2005 - Maurice Clark passes away after long fight with cancer.
2005 to 2006
2005 - Launched Clark Estates (UK) Ltd, thus leaving the sole trader approach behind and formalising the property activities within a company structure. It's main objective was to oversee and expand the property holdings of the Clark Group.
A professional team was critical for this goal and opportunely this business model attracted Peter Caunter, the leading land agent in the area, who brought in-depth local knowledge and connections and also Marc Clark, who brought two decades of expert design and construction knowledge.
2006 - Marc Clark becomes Managing Director of Clark Estates as the operation expanded significantly. A low cost model developed; investing for the medium to long-term in commercial property looking for planning gains and reformation opportunities and for residential markets; concentrating on high-end developments where there is significant demand from London buyers to move closer to the sea or to live in the New Forest.
2006 - After 18 months back in the engineering business (Parvalux) it became evident that the higher than average industry profits were just being "cash cowed". There was on average 21 years experience per person but it had also become risk and change adverse. Significant re-structure and re-investment were crucial to prosper in the longer-term and this would require a wider range of skill sets than was available. All areas of the business needed new blood providing modern skills with the discipline to change the culture and modernise the business model.
An industry consultant's objective view of Parvalux confirms these thoughts and outlines a proposal for regeneration bringing all the modern techniques the business required. Steven took promotion to CEO and appointed a new MD Justin Levine. For the first time in the history of Parvalux, a leader with the name other than Clark was to take the helm as Managing Director.
2007
2007 - After a sustained investment period the shareholders decided on a sale, after several months of negotiating and due diligence exercises we sold Links of London to the Greek company Folli Follie.
The shareholders had a view before their exit strategy was finalized of the sort of figure that would excite them and were very pleased that they achieved that figure precisely.
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2007 - Justin Levine begins preparing the business for a professional management team to take over the day-to-day running of the business. This gives Steven Clark the ability to focus on strategy and to plan growth and expansion of The Clark Group.
2008 to 2009
2008 - In July the Clark Group was fortunate to be able to team up again with John Ayton and Annoushka Ducas (founders of Links of London) and participate in their new venture "Annoushka" fine jewellery. Annoushka occupies a largely uninhabited position in a market presently polarised between High Jewellery and the traditional jeweller.
The business model not only captures the mood of the moment, allowing for customer choice and education but it is aggressively dedicated to continual innovation and ingenuity, from design and manufacture, through to marketing, packaging and communications.
2008 - Parvalux used acquisition as part of its growth strategy and in September it bought EMD Drive Systems, its nearest competitor. It became the UK's largest geared motor manufacturer. This highlights one of the major benefits of being a private group; an ability to act quickly and in an unencumbered manner when an opportunity presents itself.
2009 - In July the Clark Group takes an equity stake in the "Bremont Watch Company". Run by Nick & Giles English, a dynamic pair of brothers who offer a range of highly developed timepieces of exceptional quality.
The brand expresses their lifelong enthusiasm for aviation. The watches are "tested beyond endurance" and appeal to high profile adventurers, celebrities and high achievers. The brand was recognised for its considerable success one year after its launch winning the Walpole Award for the Best Emerging Luxury Brand.
2009 +
Engineering (Parvalux) milestones:
2009 - Parvalux Poland commenced trading as the distribution and sales arm to the Eastern block countries.
2009 - EMD moved its manufacturing operation from its premises in Essex to join the Parvalux factory in Bournemouth.
2010 - Parvalux Service Centre, based in the Midlands, was launched concentrating on maintenance and small volume sales.
2010 - Parvalux foundations in place saw growth in double-digit figures; a testament to our strategy of continued investment through the recession where many UK manufacturing companies did not survive.
Property (Clark Estates) residential:
2010 - May - construction starts for a new build 8,000 sq/ft modern contemporary home in a premier position in the heart of Branksome Park, Poole, using cutting edge design and the latest green technologies, due for completion 2011.
2010 - Design and planning phase for a 11.5k sq/ft outstanding new build modern contemporary home near the historic town of Wimborne.
Property (Clark Estates) commercial:
2010 - Launch of 27,000 sq/ft flagship office building conversion close to Poole and the nearby harbour. Re-furbished to the very highest standards using contemporary design and finishes throughout.
2010 - New 36,000 sq/ft Business park consisting of 12 two storey business located on a highly sought after estate with fantastic road connections, due for completion 2011.
