A targeted strategy and people-first values fuel Leonari’s impressive growth story
Since its foundation, Leonari has undergone a transformation from a small-scale start-up to major industry player. As Founder and Managing Director, Stathis Londos, explains, the business started from humble beginnings, fuelled by just the desire and ambition to become the best M&E contractor in London. In just over a decade, the future looks bright for Leonari as it makes its way towards £50 million revenue for this current year.
He takes up the story: “James, my business partner, and I, had worked closely together at a previous company. I was a mechanical engineer by background, working my way up to an operations director role and James was a senior quantity surveyor. We were working for a great business at the time but ended up with a now or never moment for the both of us.
“At the beginning, it was tough, as we had no cash. We managed to secure our first project in a ‘Dragons Den’ type situation and thought our next projects would come from existing contacts, but that didn’t happen either. It was just us – starting from the bottom, building our business one fan-coil unit at a time, one project at a time.
“Our turnover went from £1 million in our first year, to £4 million in the second year. In our third year we achieved around £7 million revenue and realised the company was growing fast and worked on a strategy to manage that growth sustainably.”
It is this strategy created by Stathis and James that has enabled Leonari’s evolution into a significant industry player. He notes that a vital element was hiring the right people, to carry the company forward. “We also set some basic rules within the business; our priorities were ensuring that our supply chain partners got paid fairly and on time. Above all else, we made sure all our staff and subcontractors were looked after.
“Our focus, in those early years, was building up our cash reserves by re-investing profits back into the business. James and I saw our previous employer go under, and it was a massive learning curve for both of us. In setting up our business, we knew the pitfalls to avoid and what not to do.
“With Leonari, we were starting fresh. It was important to both of us that we build strong foundations. We saw the importance in investing in the right people with the same core values as us and used this ingredient as the platform to grow our business organically. It’s definitely contributed to our long-term success.”
The strategy carried forward by Stathis and James enabled Leonari to prove itself as a reliable and trustworthy partner externally, as well as establishing a culture of trust within its own team and throughout its network of subcontractors. “Construction can be a tricky game, but it’s much easier with the right people on your side,” adds Stathis.
Complex project portfolio
Throughout its early years, Leonari set itself apart by taking on challenging projects tackling environmental issues. “One of the reasons for our initial success was our early adoption and implementation of decarbonisation strategies,” agrees Stathis. “We were involved in several complex capital plant replacement jobs, which a lot of businesses didn’t want to take on as they involved occupied buildings.
“Working in a building with people does make things trickier – but we were engineers at heart, flexible and determined, so we took all the opportunities that came our way.
And it paid off big time. We became champions of decarbonisation amongst our also proven track record in Shell & Core, Cat-A and Cat- B Fitouts.
“One of our biggest projects in London, 1 Basinghall Avenue, is the HQ for Standard Chartered Bank. We were responsible for replacing and maintaining the very heart of the building while it remained partially occupied. It was a challenge, but also incredibly exciting.”
Organic growth 
Best practice and a positive working culture turned Leonari’s initial success into long-term prosperity. As James details: “We saw our hard work pay off during the pandemic. We could rely on our industry partners to provide work, and while we were prepared for a tough couple of years, we saw our turnover nearly double, from £9 million in 2019, to £17 million in 2021. That was when we knew the business had come into its own.
“The next question was, ‘how do we sustain this success?’ Leonari had become a whole different beast, and as with our early successes, we wanted to manage that growth as effectively as possible.
“Again, we started by looking for new people to bring into the business. We were looking for driven individuals with similar values aligned with our culture who could take on senior leadership roles, and so we undertook focused recruitment drives. This has transformed the business into an entity capable of maintaining quality at our current volume and more.
“Our goal was to find talented leaders in the construction industry to add to our management team. At the core we have ended up with three operations directors and a great pool of new project managers, which put us in a strong position to continue growing. We also put in a lot of effort to achieving our ISO Accreditation (9001, 45001 and 14001) and Construction Line Platinum Status to ensure quality and best practices stay at the core of our operations.
“Since we have implemented our growth strategy, our turnover has gone from £22 million in 2023, to £32 million in 2024. We are projected to finish 2025 with a turnover of around £45 million. I think our success comes down to the fact that we always planned for expansion and built it into our operational model. When the time came, we were ready to facilitate growth and take the necessary steps to protect our business.”
Building a brand
The company’s progressive approach is encapsulated in its brand identity; Stathis credits its branding as a key dimension of its strategy. “We’ve worked hard to put ourselves out there as an M&E Building Services specialist. We’re the heart of the project, and it’s our work that keeps a building operating.
“That message is central to our brand, and it’s something we’re very proud of. Leonari can offer something special. We’re different from other contractors, we see things in a different way – and people really respond to that.”
As strong foundations, dedicated craftsmanship, and smart strategic moves continue to drive Leonari’s success, Stathis considers what’s next for the business: “We’ll continue to focus on organic growth, relying on tried-and-tested strategies, while also striving to broaden our horizons wherever possible. We’re always looking to bring on more of the right people and diversify our client base.
“We’re ready for growth, but it’s not our main driver. Setting astronomical goals can become burdensome for a business. We want to keep doing what we’re doing well, and with that we will be ready for anything,” he concludes.