Wealthy businessman steps in to rescue the struggling firm he sold for £36m
The move could save hundreds of jobs at the firm that is behind the dualling of the Heads of the Valleys road
Current Griffiths projects include the final dualling of the Heads of the Valleys road, pictured here
(Image: John Myers )
A wealthy businessman has stepped in to help rescue a Wales-based construction contracting company potentially saving hundreds of jobs. It's understood Abergavenny-based businessman 79-year-old Alun Griffiths, who established Griffiths in 1968 and is a popular philanthropist in the area, is in the process of buying back the company he sold to the Tarmac group for £36m in 2018.
Griffiths - also known as Alun Griffiths Contractors Ltd - is the construction firm behind the dualling of the Heads of the Valleys road and was also behind the 2010 Ryder Cup golf course in Newport.
Earlier this year the firm had failed to file its accounts on time and had previously recorded four years of losses. Results filed at Companies House for 2023 showed a pre-tax loss of £95m.
In a statement the company, which employs more than 900 people, said in March its review of market conditions and financial performance had led to discussions of 'proposed changes' with staff, which the Welsh Government described as 'worrying news'.
In a new statement the company confirmed its intention for a 'smooth transition' following Mr Griffiths' renewed investment.
Article continues below
'Tarmac will continue to work closely with Alun Griffiths Contractors Ltd to ensure there is a smooth transition on a business-as-usual basis,' they said.
'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.'
Mr Griffiths was confirmed as a director on May 8 on Companies House. According to Companies House he is being joined by Tim James and Simon Dunn, who both left the business just over a year ago and are returning as managing and deputy managing director.
Article continues below
Current Griffiths projects include the final dualling of the Heads of the Valleys road and a joint venture to develop Bristol Airport's new £60m transport hub.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BBC News
2 hours ago
- BBC News
Cardiff bus strike action on hold after 'improved offer'
Workers at a major bus company have suspended a planned strike after receiving an improved pay offer, a union has 450 Unite members at Cardiff Bus had planned to walk out from 17 August to 7 September in a row over the union said those plans have been put on hold while members vote on the new offer."Cardiff Bus has returned to negotiations and put an improved offer on the table. Unite has therefore suspended strike action to allow members to be balloted on the proposals," said Peter Hughes, Unite regional secretary. The union said the new offer also included proposed changes to conditions including longer breaks and improved sickness Bus have been asked to is publicly-owned, and provides a large network of services in Cardiff and the nearby towns of Penarth and Barry, Vale of Glamorgan.
Belfast Telegraph
3 hours ago
- Belfast Telegraph
Mount Charles: a second generation family business putting its team's future first
It remains a leading facilities management company, founded in Belfast by Trevor Annon back in 1988. And it's now evolving into the next generation – with Trevor's sons Gavin and Chris leading Mount Charles into further growth and expansion, while ensuring its people are front and centre, and remain at the core of the business's success. That's been fuelled by the appointment of Mark Dorman in a new role as learning and development manager – building an ambitious leadership and mentoring academy to help team members excel and grow in their roles across the company. 'Business has been really good,' Gavin Annon says. 'We've been on a bit of a growth spurt again.' Mount Charles Group has evolved into a combined services solution which includes catering, cleaning, vending and multi scale events. They operate 350+ contracts in 1,000+ sites across the island of Ireland. Mount Charles now boasts 3,500 team members, and remains one of Northern Ireland's top 10 employers. But according to Gavin, it's aiming to increase team member numbers to more than 5,000 by 2030. 'For us, it's about making our people feel important,' Gavin says. 'It's about making them understand why they want to be here, whatever they want to do: part-time, full-time, or building a career. 'We can build on that and light a fire under that excitement – it's about getting up in the morning and making a difference and having a real impact.' Over the last four decades, it's expanded to include a bespoke events business, Craft Event Co, a casual recruitment agency, Werkit, corporate hospitality business (and joint venture with Yellow Door), Pan & Pour, and in 2023, acquired the Concept Group, a Belfast-based 'one-stop-shop' for facilities management companies. Gavin says Mount Charles eyes three core areas within the business, and the reasons for its success – great people, great service, and great future. 'If we attract and train exceptional talent, in turn, they should deliver a great service, and have a great future together,' he says. Mount Charles is taking its team and its development seriously. Mark Dorman joined the team last year, and has been instrumental in implementing a new learning platform across the business, which has been key for training new starts and maintaining the high standards expected of Mount Charles. And he's developed a Chartered Management Institute (CMI) recognised three-tier management training academy – key to the organisation's team development. 'We have introduced our mentoring and leadership academies, managers and aspiring managers begin with training at the mentoring level, and then they can progress to bronze and silver leadership levels,' Mark says. 'We were able to identify core skills which Mount Charles would need for its future leaders. 'It's been an amazing journey – showcasing the talent which is coming through the business.' The leadership academies are based on hands-on, reflective, on-the-job learning. 'It about showing people in this sector that there is a very clear career progression,' Gavin says. 'You may have someone working in cleaning who wants to become an operational manager, for example. We have a pathway to that trajectory.' Ensuring it remains a family business – with a wider family culture and atmosphere extending to its team – is key for Gavin and the wider Mount Charles business. 'It's the only reason we exist,' Gavin says. 'We have to maintain that as we get bigger and stay true to our values which are – do the right thing, take pride in what you do, have fun and grow together. These define us and tell the world we are one of a kind. 'We are not on a crusade for mass market domination. We are the only business out there which is competing with the very large ones. It's important that we remain strong and ensure everyone is on the same path and journey.' Mount Charles is focused on its contribution to wider society – ensuring it places environmental, social, and governance (ESG) front and centre of its strategy. It's also delivering key insights from some 45 of its executive committee, through to line managers. 'We have a duty around ESG, because of our size and scale,' Gavin says. 'It's not just a nice thing to do any more, it's now key, and it filters down to the suppliers which we work with. 'ESG is around 40% of our current strategy. When you can see the direct impact you are having it helps the company and the team – there's fulfilment in doing the right thing.' Mark says: 'We have signed up the Belfast Business Promise, and hope to move to member status.' That includes adopting eight pledges, helping the firm, and others, network, and play a bigger role within their community. 'It's about making strategic community partners,' Mark says. That includes working with local community groups, including USEL (Ulster Supported Employment). It's also heavily involved with industry organisations such as the IoD, NI Chamber, Belfast Chamber, CBI, and Ibec. And looking ahead towards further expansion and growth, Gavin says that will come through organic expansion, while Mount Charles is also actively looking at making a sizeable acquisition, to give it considerably more market share. 'It's not a race to a larger number,' Gavin says. 'We are a heavily people-orientated business, and can't function without them. 'What we are working on – and what Mark is focused on – is keeping our people for as long as possible, and investing our time in them. 'We are well on our way with our five-year strategy – developing our leadership academy and ensuring our team has a great future. We are also developing and adapting more integrated systems to make us more efficient. 'We will continue to keep pushing forward with our strategy over the next 12 months – keeping positive, and keeping on path. 'All-island growth is a priority. We aren't looking at new markets, but plan on becoming bigger, better, and stronger.'
Leader Live
3 hours ago
- Leader Live
Mynydd Isa FC seeks permission for new 50-seater stand
After securing promotion to the Lock Stock Ardal North West League – the third tier of Welsh football – the club was required to apply for a tier three license from the Football Association of Wales. It was successful in its application, on the condition that it met the licensing requirement for providing covered fan seating by December. 'We are delighted to have been awarded a FAW Men's Tier 3 Licence for the 2025/26 season,' said the club in a statement. 'Thank you to our volunteers for their hard work behind the scenes.' It plans to install the 50-seat stand – which will also have space for fans who use wheelchairs to take shelter – to the right-hand corner of the ground as you look out from the dugout. The seating will sit inside a 40ft shipping container modified by Ruthin-based I.T Williams and Co, who specialise in small capacity sports stands – with the base provided by SCR Landscaping Services. Argoed Sports Association will contribute 10% of the cost, with the remaining 90% coming from the FAW and Cymru Football Foundation's Welsh Ground Improvements Fund. The FAW said: 'The club licensing system aims to assist the continual improvement and development of football clubs within Wales. 'Licensing is a transparent process that enables clubs to demonstrate to their stakeholders that they meet quality standards.'
