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Business advisory firm Quantuma has completed the sale of civil engineering specialist Mackoy Limited out of administration, securing the future of the company.
Joint administrators Kelly Mitchell and Alyson Richards managed the pre-pack transaction following a six-week marketing and planning period. The sale transfers all staff to the purchaser, Geocore Civils, which will novate ongoing groundwork contracts across several active development sites.
The Hampshire-based construction business entered administration after experiencing sharp increases in material and labour costs. The macroeconomic challenges, combined with shifting buyer behaviour in the housing sector, severely impacted corporate cashflow and profitability.
The specialist groundworks company was established 15 years ago and reported an annual turnover of £23.3m last year.
Joint administrator and managing director at Quantuma, Kelly Mitchell, said: “I am incredibly pleased to have achieved such a positive outcome for this highly regarded business, ensuring that all employees’ jobs have been saved. We are happy to have secured the long-term viability of the business, allowing it to continue its journey. We wish the team every success in their next chapter.”
