Civil engineering company Alun Griffiths Contractors has been reacquired from Tarmac by its founder Alun Griffiths who sold it in 2018 for £35.6 million.
Alun Griffiths Contractors Limited (AGCL) has been acquired from Tarmac by Grosmont Ventures Limited, a company owned by Alun Griffiths which was incorporated in April this year.
Alun Griffiths owned AGCL, the company he built from the ground up in Abergavenny, South Wales, from 1968 until 2018 when he sold it to Tarmac for £35.6 million.
It was announced in the last several days that he had bought it back for an as yet undisclosed sum.
It comes after a troubled spell under the ownership of CRH-owned Tarmac who posted a £95 million loss from a turnover of £262.7 million in its latest accounts in the year ended 31 December 2023.
This resulted in an ‘urgent requirement to restructure and resize’, including job cuts.
The company’s former directors, Tim James and Simon Dunn are also part of Grosmont Ventures Limited and have taken up roles as managing director and deputy managing director, respectively, at the Abergavenny-based business.
In a statement from AGCL, the company said Tarmac will continue to work closely with them, to ensure there is a smooth transition on a business as usual basis.
“The intention is to refocus the company as a privately owned entity with an emphasis on its established strengths of safety, customer service, engineering excellence and a local geographic presence,” the statement said.
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