Founder of Acorn Mobility Services Receives £45 Million Dividend, Totaling £300 Million in a Decade

Source: Based on reporting by Alex Ralph, Chief Business Correspondent at The Times (Original article published July 14, 2025, 3:36 PM)*

John Jakes, the founder of Acorn Mobility Services, has received a £44.8 million dividend payout for the past fiscal year, bringing his total earnings from the company to approximately £300 million over the last ten years. The Bradford-based firm, a leading manufacturer and installer of stairlifts, has seen consistent growth due to increasing demand from aging populations in the UK and overseas expansion.

Strong Financial Performance Amid Rising Demand

According to recently filed financial statements cited in The Times' report, Acorn Mobility Services declared dividends of £44.8 million for the latest fiscal year, slightly lower than the £48.4 million distributed in 2023. Despite economic fluctuations, the company reported an increase in pre-tax profits, rising from £56.7 million to £57.8 million.

Revenue also climbed, reaching £267.5 million for the year ending September 2024, up from £255.8 million the previous year. A significant portion of this income—£39.7 million—came from servicing contracts, highlighting the company’s recurring revenue streams. Additionally, Acorn spent £60.8 million on goods and services from related entities under common control, indicating vertically integrated operations.

A Low-Profile Tycoon with a Growing Fortune

As first reported by Alex Ralph in The Times, John Jakes, a 69-year-old British businessman residing in Monaco, retains full ownership of Acorn Mobility Services. Despite his immense wealth, he maintains a notably private lifestyle. A fellow entrepreneur once described him as a "very elusive figure," rarely appearing in media or public forums.

Jakes’ net worth was recently estimated at £869 million in *The Sunday Times Rich List 2025*, marking a £47 million increase from the previous year and placing him at 183rd among the UK’s wealthiest individuals. His son, James Jakes, 37, is a professional racing driver who previously competed in the IndyCar Series in the U.S., with Acorn having sponsored his career in earlier years.

From Humble Beginnings to Global Expansion

Founded in 1992, Acorn Mobility Services initially specialized in refurbishing used stairlifts before transitioning to manufacturing new units as the supply of second-hand models dwindled. Today, the company operates factories in Yorkshire and Scotland and exports its products to more than 80 countries.

With 1,400 employees, Acorn has solidified its presence in key international markets, including the U.S., Canada, Australia, South Africa, and major European economies. While a third of its sales come from the UK, 15% originate from Europe, and the remaining revenue is generated from global markets.

Previous Investments and Business Ventures

Before Acorn’s rise, Jakes was a major shareholder in Dignity plc, one of the UK’s largest funeral service providers. He exited his position in 2023 when the company was taken private in a £281 million deal led by a consortium including Sir Peter Wood, the insurance industry magnate.

Company’s Mission and Market Position

Acorn Stairlifts, as it trades commercially, focuses on enhancing mobility for elderly and disabled individuals, enabling them to remain in their homes longer. The company emphasizes innovation, affordability, and after-sales service, contributing to its strong market position.

When approached for comment by The Times, neither Acorn Mobility Services nor John Jakes provided additional statements.

As demographic shifts continue to drive demand for mobility solutions, Acorn’s financial success underscores the lucrative nature of the aging-care industry. With consistent profitability and strategic global expansion, the company remains a key player in its sector, while its founder’s substantial dividends reflect its sustained growth.

Easylifting Stairlifts Wigan| Greater Manchester