Private investor SVELLA has acquired the telecoms, plant, transport, and accommodation divisions of NMCN following the company’s collapse into administration.
SVELLA had previously led a proposed £24 million recapitalisation of NMCN, but when that plan did not proceed it worked with the appointed administrators, Grant Thornton, to secure the best outcome for the business units and their employees.
The acquisition preserves the telecoms division’s ability to fulfil major contracts and continue delivering critical infrastructure services for clients such as BT, Virgin Media, and CityFibre.
By purchasing the plant, transport, and accommodation arms alongside the telecoms business, SVELLA ensures those divisions can supply the machinery, vehicles and facilities needed to support ongoing operations.
SVELLA says the combined platform gives it a strong base to capitalise on growth opportunities as the telecoms sector expands across the UK.
Andrew Tinkler, SVELLA’s chairman, said: “NMCN was one of the UK’s fastest-growing telecoms contractors and played an active role in supporting the government’s ambitions for nationwide ultrafast fibre broadband through significant infrastructure contracts and frameworks. We intend to continue delivering on those ambitions.
These business divisions have clear growth potential, and we will work closely with management teams to develop a focused strategic plan, provide necessary investment, and deliver operational improvements that strengthen the customer proposition and enable growth.”
Across the transactions, SVELLA’s buyout has preserved 680 jobs within NMCN. In addition, Galliford Try’s purchase of NMCN’s water division saved a further 900 roles.
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