Keltbray Holdings Limited has agreed a deal with administrators, Grant Thornton UK LLP, to acquire a portfolio of Infrastructure contracts and associated assets from nmcn PLC, which went into administration last Wednesday.
The acquisition extends its service offering into strategically targeted infrastructure sectors, while at the same time protecting valuable engineering jobs. The deal also ensures continuity of delivery of vital infrastructure projects across the UK, minimising any adverse delivery impacts on customers.
As a result, the acquisition by Keltbray secures the futures of 117 employees, which is especially welcome during these challenging times. Keltbray will assume responsibility for fulfilling these contracts with immediate effect, providing services to valued customers, including National Highways, as part of UK Government’s infrastructure investment programme to level up the country by building back better.
The acquired contracts will be managed within its existing infrastructure division, reporting to Managing Director, Phill Price.
Commenting on today’s transaction, Keltbray CEO, Darren James said: “Keltbray are pleased with the ‘on strategy’ opportunities presented by the acquisition of these contracts, working with clients on some of the UK’s most important infrastructure projects. Today’s announcement accelerates our plans to build a resilient, growth-oriented business. Equally important, we have also safeguarded 117 valuable jobs and livelihoods that could otherwise have been lost to our industry.
“The acquisition has required a very rapid, but collaborative approach, and Keltbray would like to thank all parties for their proactivity throughout. I look forward to working with my new colleagues as we build a rewarding future together as one Keltbray.”
Photo credit: Keltbray