Galliford Try (Water) Ltd has bought nmcn’s water business following the collapse of the engineering and construction company into administration
last week.
Joint administrators from Grant Thornton UK LLP have completed sales of the following business divisions and of certain assets of the companies by way of a pre-pack administration process:
- Water Business to Galliford Try (Water) Ltd
- Telecommunications Business to Svella CO2 Ltd
- Plant and Equipment Business to Svella CO3 Ltd
The joint administrators are continuing to work to achieve a sale of the infrastructure division.
Commenting on LinkedIn this morning, Lee Marks, Chief Executive Officer at nmcn said:
“We have been working round the clock (literally) to achieve that outcome, and it is fantastic that today we have been able to formally announce that our Water (and specialist companies - Lintott, Fabrications and Asset Security), Telecoms, Plant, transport and accommodation divisions have transferred into the new ownership of Galliford Try and Svella, respectively.
“We are working hard to conclude a remaining deal for one of our other divisions which should transact in the next couple of days. Whilst this was not the outcome I had planned, I am immensely pleased that we will have saved the vast majority of jobs and provide continuity for our customers.”
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