Portchester Equity it has acquired the assets and business of the Brymor Group, including Brymor Construction Limited.
Brymor filed for administration after running into cash flow issues blamed on the covid pandemic. Portchester Equity stepped in to save it.
Portchester Equity is a Hampshire based trading conglomerate owned by Mark Thistlethwayte, which also owns Welborne Land, the master developer of the Welborne Garden Village to the north of Fareham.
Brymor was started in 1987 by Stephen and Jan Morton. He turned 75 last month.
In the year to 31st March 2020, Brymor Group turned over 拢76.3m and made a pre-tax loss of 拢625,000. Brymor Construction turned over 拢66.1m and lost 拢166,000 before tax.
Alvarez & Marsal Europe LLP was appointed as joint administrators to Brymor Group Limited and Brymor Construction Limited on 8th July 2022. Brymor Construction was operating 13 live sites, with 107 employees.
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