Integral has acquired the Ministry of Defence’s South Western and Eastern Prime contracts from the administrators of mechanical and electrical contractor MJN Colston, Construction News can reveal.
The deal with property maintenance and building services business Integral will save nearly 50 jobs in Bristol and Bury St Edmunds following the collapse of MJN Colston. It also means they will be working with Lend Lease and Babcock.
Administrators from Deloitte, Daniel Butters and Matt Colishaw, were appointed to MJN Colston on February 23. They announced 148 job losses at the company, which employed roughly 420 staff.
Administrators have yet to confirm the fate of the remaining employees.
Construction News reported that Integral was set to pip M&E giant Imtech to the contracts, which could be worth as much £5m per year. Dodd Group and Spie Matthew Hall were previously understood to be among the bidders.
Integral’s managing director Bryan Glastonbury is a former MD of MJN Colston.
He said: “I was extremely saddened to hear of MJN Colston going into administration, having been the MD of the business in the 80s and 90s, when it was extremely profitable.
“I am delighted to be given the opportunity to save the employment of some very loyal staff and have the opportunity to support both Babcock and Lend Lease on some very interesting projects.”
Privately owned Integral has an annual turnover of £200 million and employs more than 2,800 staff. It was advised on the transaction by Momentum Corporate Finance LLP.
MJN Colston traces its origins back to 1890 and made a pre-tax profit of £2.1m last year.