Spence
Spence is a London-based UK principal contractor delivering design-build, refurbishment, fit-out, M&E, and new-build construction services across rail, retail, commercial, and healthcare sectors for enterprise and public-sector clients.
- Company typePrivate
- Founded2005
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Spence does
Spence Ltd (formerly Spence Refit Ltd) is a London-headquartered principal contractor providing construction, civil engineering, and property services across UK rail, retail, commercial, and healthcare environments. Founded in 2005 and rebranded in 2024-2025 to mark its 20-year milestone, Spence operates with 251-500 employees and holds a Network Rail Principal Contractors Licence (NR-PC-134-009), RISQS certification, and ISO 9001/14001/45001 certifications that pre-qualify it for major public and enterprise infrastructure tenders.
The company's offering is structured around five integrated services — Design & Build, Refurbishment, Fit Out, M&E (Mechanical and Electrical) Infrastructure, and New Build — delivered as a single principal-contractor engagement rather than as separable platform modules. Its technical stack is rooted in standard UK construction methodologies enhanced by the recent adoption of interactive LiDAR surveying software for pre-construction site capture, initiated through its apprenticeship programme. Underlying differentiators include Integrated M&E delivery for operational rail environments, heritage-sensitive station refurbishment capability, and resilient MEP design for control centres and healthcare facilities.
Spence generates revenue almost exclusively through project-based contracts won via competitive tendering and framework agreements with enterprise and public-sector clients. Disclosed project values range from £485k to £11M, with cumulative lifetime turnover of £469M over 20 years. Named clients include Network Rail, Transport for London, Bank of America, London Ambulance Service NHS, The Arch Company, and Southwestern Railway. Distribution is purely direct enterprise sales with no reseller or marketplace channel. Marketing is limited to a content-led website, LinkedIn presence, and industry accreditations — consistent with a tender-driven, relationship-led GTM model.
Spence firmographics
Firmographics- Name
- Spence
- Legal name
- Spence Ltd
- Website
- https://spenceltd.co.uk
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Spence is a London-based UK principal contractor delivering design-build, refurbishment, fit-out, M&E, and new-build construction services across rail, retail, commercial, and healthcare sectors for enterprise and public-sector clients.
- Ownership category
- akta.pro rank
Spence industry classification
Industry- Product category
- Construction Services
- NAICS
- Other Foundation, Structure, and Building Exterior Contractors (238190)
- SIC
- General Bldg Contractors - Nonresidential Bldgs (1540), Heavy Construction Other Than Bldg Const - Contractors (1600)
- akta.pro primary industry
- Public Works General Contracting (IMAFAAAG)
Keywords
Where Spence is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Spence business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Construction Project Contracts: Spence generates revenue through construction project contracts as a principal contractor. Projects span across rail, retail, commercial, and healthcare sectors. Revenue is earned through delivering design-build, refurbishment, fit-out, M&E infrastructure, and new build services. Project values range from £485k to £11M based on disclosed project data.
- Professional Services: The company provides ongoing professional services as part of construction contracts, including mechanical and electrical infrastructure installations, which are integrated into project delivery.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Spence product offering
Product offeringCore offering
Spence is a UK principal contractor delivering construction, civil engineering, and property services across the rail, retail, commercial, and healthcare sectors. The company offers five integrated service lines — Design & Build, Refurbishment, Fit Out, M&E Infrastructure, and New Build — executed under framework agreements and competitive tenders for enterprise and public-sector clients. Project values disclosed on the website range from £485k to £11M.
Product overview
Spence is a construction, civil engineering, and property services company offering a unified portfolio of five core services: Design & Build, Refurbishment, Fit Out, M&E Infrastructure, and New Build. The company operates across four primary sectors—Rail, Retail, Commercial, and Healthcare—delivering projects as principal contractor. Spence functions as a single unified service offering rather than a platform-plus-modules architecture, with each service representing a distinct capability area that clients can engage individually or in combination. Established in 2005 and based in London, the company has completed projects valued in the hundreds of millions across the UK, including major works at Network Rail stations and commercial properties.
Differentiator
Problem solved
Functional benefit
Products and services
- Design & Build Design & Build coordinates design and construction under a single contract for commercial, healthcare, and retail projects, streamlining communication and accelerating delivery timelines. Delivered to enterprise and public-sector clients as a principal contractor.
- Refurbishment Refurbishment transforms outdated buildings into functional spaces, ranging from minor refurbishments to significant structural enhancements and advanced system upgrades, with emphasis on functionality, sustainability, and quality.
- Fit Out Fit Out delivers bespoke Category A and Category B fit-out solutions in collaboration with property owners, tenants, developers, and architects, transforming underutilised spaces into vibrant and productive environments.
- M&E Infrastructure M&E Infrastructure delivers mechanical and electrical solutions from design through installation, emphasising best practices, sustainability, and innovation. Used to support rail control centres, healthcare facilities, and commercial projects.
- New Build New Build creates new build projects within rail and commercial sectors, integrating advanced technologies with sustainable practices to meet or exceed quality standards.
Quantifiable outcome
- £469M total turnover achieved over 20 years of operations
- +3 more outcomes
Companies that use Spence
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles2 records
Spence technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Spence partnerships and signals
Strategic signalScale indicators5 records
Recent moves5 records
Expansion highlights4 records
Spence competitors and assessment
Company assessmentDirect peers
- Wates Group: Privately held UK construction and property services company operating across commercial, education, healthcare, and rail-adjacent sectors. Comparable to Spence as a privately held mid-to-large UK contractor offering integrated fit-out, refurbishment, and new build services.
- Overbury: UK fit-out and refurbishment specialist operating primarily in London and the South East. Comparable to Spence in delivering high-quality Category A and B fit-outs, refurbishments, and M&E infrastructure to enterprise commercial clients.
- Bowmer + Kirkland: Privately held UK construction and fit-out specialist with strong commercial property and infrastructure exposure. Comparable to Spence as a mid-sized UK principal contractor offering design-build, fit-out, and refurbishment services to enterprise clients.
- Morgan Sindall Group: UK-listed construction and regeneration group with a dedicated Infrastructure division covering rail, highways, and utilities. Directly comparable to Spence as a UK principal contractor with rail expertise, though operating at significantly larger scale across multiple segments including fit-out and refurbishment.
- Sir Robert McAlpine: Privately held UK family-owned construction company with strong rail infrastructure and commercial property delivery. Comparable to Spence in heritage, family ownership structure, rail expertise, and integrated principal contracting model.
- VolkerFitzpatrick: UK civil engineering and building contractor within VolkerWessels group, with rail infrastructure and commercial building delivery. Comparable to Spence as a mid-sized UK contractor combining rail infrastructure expertise with commercial building and refurbishment capabilities.
- Mace Group: UK-based construction and consultancy firm with significant fit-out, refurbishment, and infrastructure capabilities. Comparable to Spence in offering integrated design-build and fit-out services to enterprise clients including transport and commercial property sectors.
- Kier Group: UK infrastructure services and construction group with strong rail, highways, and utilities exposure. Comparable to Spence in serving Network Rail and TfL as framework contractors, though operating at much larger scale across transportation infrastructure.
Broad incumbents
- Balfour Beatty: Tier-one UK infrastructure group with extensive rail, highways, and utilities operations, including direct Network Rail framework work. Comparable to Spence as a UK rail-infrastructure contractor, though operating at substantially larger scale and capital base.
- Skanska UK: UK arm of global construction and development group with significant rail, commercial, and infrastructure delivery. Comparable to Spence in serving rail and commercial enterprise clients, but operates as a tier-one incumbent with much broader portfolio and international backing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Spence social profiles
Digital presenceSpence compliance and trust
Trust signalCompliance7 records
Spence financial estimates
Financial estimateRevenue estimate
Valuation estimate
Spence leadership team
Management profileNumber of profiles
Profiles8 records
Spence funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Spence M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Spence
What does Spence do?
Spence is a UK principal contractor delivering construction, civil engineering, and property services across the rail, retail, commercial, and healthcare sectors. The company offers five integrated service lines — Design & Build, Refurbishment, Fit Out, M&E Infrastructure, and New Build — executed under framework agreements and competitive tenders for enterprise and public-sector clients. Project values disclosed on the website range from £485k to £11M.
Is Spence a public or private company?
Spence is a private company. It is classified as family owned and is currently operating.
When was Spence founded?
Spence was founded in 2005. It employs 251 to 500 people.
Where is Spence based?
Spence is headquartered in London, United Kingdom, in the Europe region.
How does Spence make money?
Two revenue lines are on record. Construction Project Contracts are the primary driver. The others are professional Services.
Who are Spence's main competitors?
Direct peers on record are Wates Group, Overbury, Bowmer + Kirkland, Morgan Sindall Group, Sir Robert McAlpine, VolkerFitzpatrick, Mace Group and Kier Group. Broad incumbents are Balfour Beatty and Skanska UK.
Does Spence have an API?
No public API is recorded for Spence.
What industry is Spence in?
Spence's product category is Construction Services. Its primary akta.pro industry code is IMAFAAAG, Public Works General Contracting. Its NAICS code is 238190 and its SIC code is 1540.