Contractor says it wasn’t tempted by any approaches for the division
Willmott Dixon has cancelled plans to sell its support services arm, four months after putting it up for sale.
In February the firm began seeking exressions of interest for the £143m-turnover division - which incorporates its energy services and housing maintenance operations - to focus on its two main businesses, contracting and residential development.
But this morning the firm published an update saying it had not been tempted by any approaches it received.
Rick Willmott, Willmott Dixon chief executive, said: “While considerable interest was received, once properly tested, all the proposals either fell short of perceived value or would have resulted in the dismantling of the business and its culture and the redistribution of its assets, which would not have been fair to either customers or employees.
“We have therefore decided to withdraw from negotiations, to reinstate the business in its longer term plans, and have re-committed our full support and energy to capture the immense potential within the current team and the support services sector.”
The firm had previously said the support services’ division’s “significant potential” was being hampered by it being a “minority” player in a £1.3bn group.
The news came as Willmott Dixon also announced it had won the pre-construction stage on a £31m computer science facility for Swansea University.
The facility, which includes space for 150 researchers across a number of labs, is backed by £17m of funding from the European Regional Development Fund.