Multi-utility infrastructure group, Last Mile, appoints new CEO to power next phase of growth
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Glasgow, UK, 22 September 2025: Last Mile, the multi-utility infrastructure group that designs, builds, owns and manages more than 910,000 connections across Great Britain, today announces the appointment of Richard Thomas as CEO.
Richard Thomas joins Last Mile from Ipsum, the private equity backed specialist engineering services provider to both public and private power and water networks, where he served as CEO from 2020 to 2024. He has a strong track record in delivering growth and significant value creation. Richard also has significant experience integrating businesses, having overseen nine acquisitions and led Ipsum’s successful exit from Aliter Capital to IK Partners in 2023. Furthermore, he was instrumental in tailoring service offerings to meet client needs and help build long-term value in the utilities sector.
Prior to Ipsum, Richard held several senior roles at leading equipment hire company A-Plant (now Sunbelt Rentals UK) before becoming CEO. Under his tenure, revenue grew from £166 million to £475 million across 200 locations in the UK and Europe. He oversaw a significant improvement in safety KPIs and led A-Plant’s biggest ever acquisitions and integrations – LION Trackhire and Eve Trakway.
Richard takes on this role from Mike Pearce, who has stepped down from the business. Mike has played a pivotal role over the past nine years in building Last Mile into one of the largest connection providers in the UK.
As CEO, Richard will help to further deliver Last Mile’s multi-utility solutions to residential, commercial and industrial customers, continue to build on the group’s strong track record of innovation – including low-carbon heating – while enabling the critical delivery of housing across the UK. In addition, Richard will work to further accelerate growth across the company and drive the ongoing integration of recent acquisitions. Most importantly, he will spearhead Last Mile’s uncompromising health and safety culture.
Liam Auer, Chair of Last Mile, said: “On behalf of the Board of Directors, I’m pleased to welcome Richard to the chief executive role. He is joining Last Mile at a time of great transition for the industry, which presents significant new opportunities for our business. We are looking forward to working with Richard to build on our strong position in the multi-utility sector.”
Richard Thomas, CEO of Last Mile, said: “I am delighted to be joining Last Mile at this exciting time. The energy transition, coupled with Last Mile’s scale and ability to invest, present substantial opportunities to provide our customers with innovative, resilient solutions that achieve net zero. Last Mile’s significant expansion across multiple utilities and sectors is thanks to the strength and depth of its 800 plus staff. I look forward to bringing my own experience to that growing team and, with them, ensuring that we continue to deliver for all our stakeholders.”
Liam continued: “I’d also like to express deep gratitude to our outgoing CEO, Mike Pearce, for his valued contribution during nine years at the helm. Under his leadership, Last Mile has grown to become one of the UK’s largest independent connection providers; delivering over 910,000 connections across electricity, water, wastewater and heat – with a further ~730,000[1] in the contracted pipeline. He successfully brought together the diversity of businesses that today make up Last Mile; creating a group with the scale, expertise and reputation to lead in our sector. We wish Mike well for ongoing success in his future endeavours.”
Mike Pearce, outgoing CEO, Last Mile, said: “I am extremely proud of everything we achieved as a team during the past nine years. I would like to thank the staff and all our stakeholders for their support, and I wish Richard and the executive team every success in delivering the next stage of growth.”
[1] July 2025
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More About Last Mile
Last Mile is a multi-utility infrastructure group that designs, builds, owns and manages utility connections for new developments across Great Britain. We are one of the largest independent network owners with more than 910,000 electricity, heat, gas and water connections, an order book of a further ~730,000 connections, and over 800 employees.
Our focus is developing efficient, future-proofed infrastructure that delivers reliable heat, electricity, gas, water and wastewater services, working through our Design and Build brands UKPS (operating in the South of England, Midlands and South Wales) and Energetics (operating in Scotland, North Wales and the North of England). We adopt, operate and maintain utility infrastructure through Last Mile Asset Management on behalf of Last Mile Heat, Last Mile Electricity, Last Mile Gas and Last Mile Water.
Our vision is to lead the delivery of integrated utility infrastructure that meets the needs of new and upcoming residential and commercial developments. We support innovation through pioneering technologies like renewable ground source heat, helping to move our communities forward, future-proof infrastructure and provide a next generation alternative to gas networks.
Backed by blue-chip investors Macquarie Asset Management and Infracapital, we are committed to achieving our long-term growth ambitions by developing, adopting and operating utilities infrastructure that is ready to meet the challenges of net zero, while emphasising financial stability, governance and risk management.
