Keltbray has agreed a deal to acquire a portfolio of infrastructure contracts and associated assets from nmcn which went into administration last week.
The latest move secures the futures of 117 former nmcn employees and Keltbray will take over existing contracts with immediate effect.
The acquired contracts will be managed within Keltbray’s existing infrastructure division reporting to Managing Director, Phill Price.
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.”
The Keltbray deal is the final sell-off of nmcn which went into administration last week.
Galliford Try bought the water business for £1m saving 900 jobs while Svella picked-up the telecoms, plant hire, transport and accommodation divisions saving 680 jobs.
Administrator Grant Thornton was unable to find a buyer for the building division leading to 80 redundancies.