The chairman of Newry-based fit-out contractor MJM Group has bought fellow Northern Irish construction company Mivan out of administration. MJM Group chairman and owner Brian McConville has acquired Mivan’s assets, including its Antrim premises, plant and equipment, and the Mivan name and intellectual property rights from administrators at Deloitte.
The fit-out constractor specialises in the refurbishment of cruise liners, ferries, super yachts, luxury hotel and leisure facilities, office and retail buildings, and private residential developments.
Mr McConville told Construction News he had entered a bid to buy the whole Mivan business from administrators, but it had not been accepted.
He added that Mivan’s assets remained attractive due to the synergies with MJM Group.
Mivan ceased trading on 27 January after administrators at Deloitte failed to find a buyer for the company.
Deloitte administrator Peter Allen said: “We had initially hoped to achieve a sale of the business as a going concern, but this sale of the assets will provide an opportunity to continue the Mivan name and hopefully the Antrim facility.
“The assets have been sold as a package to a strong player in the industry – and potentially this will provide a platform for new jobs to be created,” he added.
Mivan and MJM will operate as separate entities, but together Mr McConville said they would have the biggest specialist joinery capability in Europe.
“We are delighted that we were able to rescue the Mivan brand and bring it into the MJM group of companies.There are obvious synergies between the two operations which will allow us great efficiencies and economies of scale,” he said.
Mivan employed 289 people and 238 have been made redundant since the firm entered administration on 10 January.
“Initially we expect to create 40 to 50 jobs in Antrim from the existing local skilled workforce and we believe that, by implementing the efficient work practices that have underpinned our growth to date, we can drive the Mivan brand back to its former glory,” Mr McConville said.
Asked why fewer jobs would be created than were previously held at Mivan, Mr McConville said: “You’d have to ask the former owner why they had that number of employees.
“I’ve been doing this for 31 years and I know how to run my business. I’ll be taking this forward as a start-up model with 30 to 50 employees.”
Mr McConville said MJM’s human resources department was reviewing job descriptions and would go out to market next week with up to 50 job vacancies.
He said none of Mivan’s former employees would be automatically kept on, but that application forms would be available to all from next week.