Purchase by private equity firm Better Capital is latest chapter in drawn out administration of failed social housing firm

Half of the compliance division of failed firm Connaught has been bought by private equity group Better Capital.

The group bought the slice of Connaught, which went into administration last year, for £15m.

The compliance division provides training, health and safety advice and asbestos removal.

The Financial Times has also reported that the rest of the compliance division is expected to be sold within days, while the environmental division of Connaught that also survived administration will be sold within weeks.