Financial

Building maintenance and retrofit firm Cardo Group has continued on the acquisition trail after buying the roofing business of Breyer Group. Cardo completed a deal on Friday (11 April) to acquire the entire roofing division of the Essex-based contractor, which fell into administration earlier this month. The financial details of…

A modular specialist owned by ISG’s parent firm, Cathexis, owed £70m to the supply chain when it went under days after ISG’s collapse. ESS Modular appointed administrators four days after ISG’s subsidiaries called in Ernst & Young (EY) to administer its affairs. EY was also appointed to lead ESS Modular’s…

This story was written with AI assistance from Harmsworth Who is Harmsworth? Speedy Hire has said it expects to report full-year results in line with expectations despite a tougher trading environment that has seen it accelerate depot closures. In a trading update for the year to 31 March 2025, the…

Nearly all the listed debtors for one of the UK’s largest roofing contractors have disputed how much they owed the firm, forcing its administration process into a fourth year. Administrators for Avonside Roofing – the £48m-turnover contractor that went under in September 2022 – said they had spent a “significantly…

Structural steel fabricator Billington Holdings has revealed that its pre-tax profit dropped by almost a fifth in 2024 – with an even steeper fall expected this year. The Yorkshire firm cited a "very challenging market" characterised by "reduced demand" and "increasing pricing pressures". Billington saw its pre-tax profit slip from…

Caddick’s profit stuttered after the group was hit by “challenges in the wider domestic and global economy”, according to its latest annual accounts. However, its construction business boosted profit and turnover, and the group revealed bold plans to increase revenue by more than 40 per cent in the coming year.…

This story was written with AI assistance from Harmsworth Who is Harmsworth? Czech Republic-based Sev.en Global Investments has completed its acquisition of Celsa Steel UK and Celsa Nordic, rebranding the businesses as 7 Steel UK and 7 Steel Nordic, respectively. The newly launched group is now a "leading" low-carbon construction…

Trade creditors of a collapsed electrical contractor are unlikely to recover any of the money the firm owed, administrators have said. TNA Electrical, which appointed administrators from Leonard Curtis in February, left its supply chain out of pocket by £6.9m, according to documents published on 12 April. The figure is…

High-rise specialist Renaker posted record revenue and profit despite “periods of uncertainty and delays” brought on by gateway two building safety requirements. The developer-builder, responsible for many of Manchester’s city-centre high-rises, reported its pre-tax profit had grown by 27 per cent to £6.3m in the year ending 31 October 2024.…

Three directors of an Essex-based contractor that has gone into administration have launched a new company that has acquired the failed business and its assets. Groundwork specialist Colwin Construction appointed administrators from Leeds-based Lewis Business Recovery and Insolvency on 19 March. However, the firm and its assets were acquired by…