Two recent headlines highlighted for me the financial gulf between traditional construction and emerging sectors such as offsite. On the one hand, new kid on the block Top Hat announced a £75m investment courtesy of Goldman Sachs, and on the other, leading UK contractors such as Balfour Beatty, Costain and Laing O’Rourke were kicked off the Prompt Payment Code for failing to meet its standards. The contrast provides some telling insights into how the industry is financed and rewards shared.

To put the Goldman Sachs investment into context, Top Hat secured almost as much money as the government has provided for the Construction Innovation Hub via the sector deal. It is a huge achievement for a construction start-up to have won an investment partner with such deep pockets. However, Goldman Sachs will no doubt expect an attractive return on its investment. 

…