Arbuthnot Commercial Asset Based Lending (“ABL”) has provided an all-asset funding facility to support MDS Civil Engineering’s (“MDS”) management team, Darren Chaston, Richard Pullen and Matthew Pratt, in acquiring the business from its founder. The total funding package in support of the management buyout (MBO) includes a receivables financing line, secured primarily on a borrowing […]
Business investment in the construction industry recovered 223% in Q3 2020 having jumped £589m on the previous quarter, analysis of latest official data by R&D tax relief specialist Catax shows. However, business investment in the sector was still 67.8% down year on year to £853m between July and September last year as pandemic disruption continued […]
The total value of contract awards in January 2021 was £4.3bn, a decrease of 12% on December 2020 and also 10% lower than the monthly average in 2020 which was £4.8bn. The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, highlights levels of construction contract values awarded across Great […]
Paragon Bank continues to support UK SMEs, providing a facility of up to £700,000 to support working capital needs of Kent-based recruitment firm, Gaia Newton Associates Ltd, enabling the business to continue paying wages. For over 35 years, Gaia has placed individuals in both temporary and permanent roles, predominantly within the construction industry. Paragon has […]
Local people will have the chance to learn valuable construction skills working on a project to develop a well-known derelict site in Birmingham city centre. The West Midlands Combined Authority (WMCA) is funding a £100,000 skills hub on the site at Ludgate Hill car park in the Jewellery Quarter to offer local people free construction […]
ISG took this month’s top spot in the contractor league tables after being appointed the contractor for seven major projects totalling just under £2.7bn. Almost all this amount is due to work on a new £2.6 bn electric battery plant in Blyth, Northumberland. In second position this month with just one project is Future Valleys, […]
Builders registered to carry out green home refurbishments will be able to sub-contract in a bid to widen the number of tradespeople who can do the work. The move follows poor take up to register with TrustMark to do energy efficiency retrofits such as insulation, solar panels and heat pumps under the government’s green home […]
After two years of growth the Derbyshire-based contractor required additional working capital resource to help drive further growth as they experienced increased customer demand following the first UK wide lockdown in spring. PCS UK Ltd provides services on electrical projects, varying from initial development consulting, design calculations, installation, and commissioning on-site support for maintenance teams after projects are completed. Founded in 1997, […]
Developer Southern Grove has today unveiled a substantial £18m housing development that will create dozens of premium family homes on the beautiful Kent coast. The Willows near Whitstable, will provide 42 houses, consisting of a mixture of semi-detached and detached family accommodation, as well as 12 apartments. Hundreds of thousands of Londonders have moved out […]
Plans to transform the city’s iconic college tower, dubbed the Met, into a hotel with leisure and grade A office space are set to become a reality. Glasgow city council has granted developers Osborne & Co detailed planning permission to convert the 11-storey tower into a 260-bed hotel with grade A office for up to […]
