Alun Griffiths set to rescue firm he sold for £36m

Alun Griffiths, now 84, has teamed up with former administrators Tim James and Simon Dunn to rescue the Abergavenny-based enterprise after a troubled spell below CRH-owned Tarmac’s possession.

The deal is predicted to be formally introduced shortly, with the brand new management workforce aiming to rebuild the £260m turnover enterprise after 5 years of collected losses totalling practically £170m.

Annual losses peaked at £95m in 2023, in line with most up-to-date printed accounts for the yr, triggering a cost-cutting programme, together with not too long ago opened consultations on job cuts.

Insiders advised the Enquirer that employees redundancy consultations have now been paused whereas the incoming administration opinions operations.

“The view is Alun needs to rescue the agency that also carries his identify above the door, save jobs and construct the enterprise again to the place it was,” stated one supply.

(l-r)Tim James and Simon Dunn

James and Dunn, who each left the enterprise simply over a yr in the past, are returning as managing and deputy managing director.

The pair most not too long ago labored at Cambrenis Civil Engineering, a agency business veteran Griffiths arrange two years in the past.

Former Griffiths managing director David Parr has exited to rejoin Farrans, the place he spent 20 years earlier than taking cost at Griffiths simply over two years in the past.