THE electricity branch of the collapsed construction firm Carillion has been taken over by an Irish company.
London based J Murphy & Sons have acquired Carillion's electricity and overhead lines contracts, working with electricity and gas infrastructure company National Grid PLC.
Carillion PLC went into liquidation last month after years of service.
As part of the deal, Carillion employees will now join the Irish firm.
Murphy & sons will also become the new joint venture partner with Eltel for the overhead line and T-Pylon frameworks.
Carillion - a FTSE 250-listed firm until August 2017 - took the step after talks with lenders failed to save the troubled construction and support services firm from its onerous debt levels.
💥We have some big and exciting news...💥
Murphy has acquired Carillion's UK Power Business!
Read more: https://t.co/P0JlxX96Jh pic.twitter.com/82LVBMeGFP— J. Murphy & Sons Ltd (@jmurphyandsons) February 7, 2018
"This represents an excellent strategic fit for the business, allowing us to bring a full range of services across the power sector for our customers both in the UK and internationally", Murphy Chief Executive Officer John Murphy said.
"We have a strong sense of purpose, committed to improving lives by delivering world-class infrastructure," Murphy added. "I'm pleased to be able to work with our new partners Eltel to continue supporting National Grid and deliver essential energy infrastructure."
Murphy Strategy Director David Brewer said: "At Murphy, we believe that private ownership creates a natural alignment of the interests of our customers, owners, employees and suppliers. We all benefit from a sustainable business, managed for the long term. Our success is founded on strong values and investing to develop deep engineering and direct delivery capability. This is an environment where the power business we have acquired today can thrive."
