Svella has acquired the telecoms, plant hire, transport and accommodation divisions of nmcn out of administration, saving over 680 jobs
On 4 October, nmcn announced its intention to appoint administrators and, since then, Svella has been working with administrators at Grant Thornton UK LLP to consider options acquire these divisions.
The acquisition by Svella will enable the telecoms division to continue servicing customer contracts, including telecoms infrastructure services for BT, Virgin Media and CityFibre.
Acquisition of the plant hire, transport and accommodation businesses, which include an extensive fleet of plant, machinery, vehicles, mobile offices and welfare units will allow Svella to ensure the telecoms business has access to the assets it needs to successfully trade as a going concern.
Svella will ensure the ongoing hire of these assets to the other business divisions, which may be acquired out of administration by other parties.
‘Safeguarding over 680 important skilled roles’
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 infrastructure 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.
“These business divisions have growth potential and we will work closely with management teams to develop a comprehensive strategic plan and provide the support and investment to deliver operational excellence, enhance their customer proposition and facilitate growth.”