Project First buys Denman FM
RAPIDLY expanding contractor Project First has bought the Denmans Facilities Maintenance business from the administrator.
The troubled Reigate-based Denman Group, which included Denman Contracting slipped into administration at the end of March, with the Facilities Maintenance arm of the business following three weeks later.
In addition to the Denman purchase, Project First has also completed the acquisition of Swansea-based contractor Red Kite Refrigeration and Air Conditioning Ltd.
Commenting on the Denman sale, Keith Stevens, head of business recovery at administrator Wilkins Kennedy said 'We are delighted for both staff and future customers that we were able to conclude the sale of Denman Facilities Management Ltd. in what is a particularly difficult economic climate for the refrigeration industry.'
The purchase has saved the jobs of 187 Denman employees.
Red Kite, a refrigeration contracting/service and maintenance business, has been working in collaboration with Project First for a number of years and will continue to trade as Red Kite following the purchase. It will also continue to grow its external client base, says the company, operating as a separate legal entity from Project First.
Eighteen of Red Kite's existing staff will continue to work for the business and closer co-operation with Project First is expected across its sites in the future.
As part of the deal, Project First also bought Red Kite Air Movements Ltd, which specialises in air conditioning/hvac and ducting.