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 underneath CRH-owned Tarmac’s possession.

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

Annual losses peaked at £95m in 2023, in line with most up-to-date revealed accounts for the 12 months, triggering a cost-cutting programme, together with just lately opened consultations on job cuts.

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

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

(l-r)Tim James and Simon Dunn

James and Dunn, who each left the enterprise simply over a 12 months in the past, are returning as managing and deputy managing director.

The pair most just lately 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.