Buyer found for Subterra
RADIUSPLUS, which specialises in pipeline engineering services, has bought Subterra, a subsidiary of the collapsed Daniel Contractors group.
It is the final part of a sell-off which has been conducted by administrators from Deloitte in Manchester who were appointed last month.
Warrington-based Subterra employs 10 staff and specialises in pipeline inspections and repairs.
Derek Muckle, director of Derbyshire-based RadiusPLUS, said: “After 10 years of steady organic growth based on our own innovation efforts, it is fantastic news to announce the acquisition of Subterra, a company with a strong reputation for innovation particularly in the UK water utility markets.
“This acquisition brings a range of technologies which are a good fit to our business and allow us to offer a range of attractive services to our utility and contractor partners both here in the UK and in the emerging Russian and CIS markets. We are especially pleased to have the skills and contribution from the employees of the Subterra business who will be transferring.”
Administrators have saved 1,226 of Daniel’s 1,449 jobs. More than 1,000, who were working on water company contracts, have been transferred to Enterprise, May Gurney and Murphy.
