M&E giant Imtech is in talks to purchase parts of failed contractor MJN Colston, Construction News understands.
The European contractor, which turns over more than £400 million in the UK and Ireland, could conclude negotiations for MJN Colston’s work on the Ministry of Defence prime contracts which could be worth as much a £5m per year, by the end of the week.
Around 20 jobs would likely be saved by the deal including three directors, senior managers in Bristol and Bury, four site managers and around ten mechanical and electrical operatives.
MJN Colston is engaged on a number of MoD sites working with main contractor Babcock.
The news comes as administrators at Deloitte confirmed they were in advanced negotiations to sell parts of the business.
Deloitte has declined to comment on the identity of potential buyers.
Construction News understands that other companies which expressed an interest ahead of a deadline which passed on Monday night, include Spie Matthew Hall and the Dodd Group.
Some 148 people have already lost their jobs at MJN Colston after an initial review of the company’s finances.