In less than 10 years, founder of RILOW Property Group Richard Whitehead has done what some property developers can only dream of achieving in a lifetime.
Renowned for building individually crafted, beautiful and functional homes throughout Sydney and its surrounds, Richard and his team have designed and built over 1,000 homes, all the while adhering to the company’s philosophy of ‘building every home as if it were our own’.
There are many factors that set apart a home built by a RILOW company from the rest on its street – from the exceptional craftsmanship to the integrity of materials to the reliability of construction, each home is an outstanding investment.
Today, RILOW has an impressive stable of brands including Elderton Homes, Millbrook Homes (established with Richard’s brother Daniel Whitehead), White Square Properties and Bluestone Developments (NSW). In a highly competitive market with a portfolio which encompasses luxury homes, first-homes and investment properties, RILOW is one of the most respected top 20 home builders in New South Wales.
Clearly on a path to rapid growth, RILOW approached RSM at a critical time - they needed advisors with a sound understanding of the property and construction sector and experience in providing objective advice on structuring for future expansion.
In an industry that has fluctuating markets along with rigorous legislative and environmental regulations, it was important that the advisors RILOW chose had significant experience working with property and construction businesses.
Experienced advisor to construction businesses, RSM’s Adam Crowley, a Principal in the firm’s business advisory division, saw RILOW’s challenges from a few perspectives.
“Apart from looking at a new structure for the growing company, there were other concerns around risks and complex tax issues which could potentially inhibit the business’ expansion and otherwise improved financial outcomes.”
Adam and his team worked with RILOW’s Chief Financial Officer Alan Robson to undertake a restructure for the group of companies.
“The group’s old structure had many inefficiencies and didn’t allow for future growth. Our aim was to restructure the group into something much more efficient and robust that could support continued growth whilst mitigating risk to both the business and its shareholders”.
RILOW’s Chief Financial Officer Alan Robson says the decision to go with RSM was quite simple.
“Adam’s industry knowledge and responsiveness including many instances, both after hours and on weekends given the need for business advisory goes beyond normal operating hours, has been incredibly valuable. Adam and RSM have also been wonderful representatives of the business when requiring external stakeholder engagement. This seamless interaction between RSM and RILOW has also led to the development of a very good relationship between the two teams.”
Whilst a lot has changed over the last close to 10 years, it is an exciting time for RILOW’s growth story. Employing 92 staff and engaging over 100 construction contractors and apprentices across the group, RILOW is well-positioned to cement its position as an award-winning NSW builder by building many more exceptional homes they can stand behind and be proud of in servicing both market demand and client requirements.