The transport, telecoms, plant and accommodation divisions of NMCN have been sold saving 1,500 jobs.
This was confirmed today by Grant Thorton UK LLP who have been appointed as joint administrators of NMCN PLC (the Company) and NMCN Sustainable Solutions Limited (SSL) (together “the Group”), construction and engineering firms based in Nottinghamshire and with operations throughout the UK.
Rob Parker, Director at Grant Thornton UK LLP, commented on behalf of the Joint Administrators: “The Joint Administrators are very pleased to confirm the sales of three of the divisions of the Group and are in continued dialogue for the sale of the Infrastructure division in the coming days. “The sale of the three divisions safeguards jobs for over 1,500 people. The Joint Administrators intend to continue to operate part of the Group’s head office function, in support of Svella plc, the purchaser of the Telecoms and Plant divisions, as well as Galliford Try Water Limited, who purchased the Group’s Water division.
“It is, however, with regret, that due to a number of legacy contract issues, the Joint Administrators have not been able to achieve a sale of the Group’s Buildings division, which together with some other central roles in the Group has resulted in the redundancy of 80 people. The Grant Thornton team will work with the employees affected to support them through this process”
Andrew Tinkler, SVELLA chairman, said: “The acquisition of the telecoms, plant, transport and accommodation business divisions by SVELLA safeguards over 680 important skilled roles and secures continuity of service for key national telecoms clients.
“Nmcn was one of the UK’s fastest-growing telecoms contractors and was actively supporting the government’s ambitions for nationwide coverage of ultrafast fibre broadband through a number of significant infrastructure contracts and frameworks. We aim to continue to deliver on these ambitions.”
Included in the Water division sale, the Joint Administrators secured the sale of Group subsidiary company, Lintott Environmental Technologies Limited (Lintott).
Bill Hocking, Chief Executive of Galliford Try, commented: “I am delighted to welcome the employees, clients and suppliers of nmcn Water to Galliford Try. This acquisition is an excellent strategic fit with our existing business and will accelerate the growth of our successful Environment division, providing work with new clients and increasing our capabilities. This is a very exciting time as we deliver our Sustainable Growth Strategy and I look forward to a bright future for our collective team.”