TopHat, the UK's leading modular house builder, has appointed David Brown, former CFO of construction equipment manufacturer JCB, as Chief Financial Officer following its recent £70 million fundraising round.
David held the CFO role at JCB - a £4 billion turnover privately held company with significant operations in the UK, India, US, Brazil and China - for almost six years from 2016. During this time, David helped the business successfully navigate the market downturns caused by the pandemic, with JCB Group increasing profit before tax from £130 million in 2020 to £501 million in 2021.
Harnessing 20 years of experience in a global organisation that provides product development, manufacturing and financial services, David will enhance TopHat's Board and Executive team as the company enters a period of rapid growth.
TopHat recently raised £70 million from new and existing shareholders in a round that was led by FTSE-100 house builder Persimmon and institutional investor Aviva Capital Partners. In addition to delivering up to 800 beautiful, precision engineered homes a year from its existing factory in Derby, TopHat is well progressed in building what will be Europe's largest modular housing manufacturing facility in Corby, Northamptonshire, where it will manufacture up to 4,000 homes a year utilising a combination of cutting-edge robotics and employing 1,000 people.
Jordan Rosenhaus, CEO and founder of TopHat, said: "As a senior leader from a major manufacturing business, David brings with him the type of experience that will help us continue to revolutionise house building through the application of cutting-edge technology and lean manufacturing techniques. We're delighted to have him on board as we enter an exciting growth phase."
David Brown, chief financial officer at TopHat, said: "I am delighted to be joining a business which is harnessing technology and leading manufacturing processes and bringing this to homebuilding at scale. Manufacturing houses in factories is a critical part of tackling the nation's housing crisis and TopHat is at the forefront of this dynamic sector."
