The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Midas Group Appoints Administrators

Midas Group Appoints Administrators
09 February 2022

Midas Group, one of England's largest privately-owned construction and property service companies, is to cease trading.

The company filed an administration notice in late January 2022, after reporting £2 million of losses in the last financial year.

The group has seven offices and has current contracts with Torbay Council, Teignbridge District Council and Cornwall Council.

Midas is also the ninth largest private sector firm in the southwest with a turnover of £291 million and 498 direct employees (not including subcontractors).


Southwest Liberal Democrat Leaders Urged Government to Step in


Council leaders in the Southwest had attempted to call on Michael Gove, the Secretary of State for Levelling up, Housing and Communities, to support the Midas group.

In a letter to Michael Gove, the signatories, including Councillor Steve Darling, Liberal Democrat leader of Torbay Council, asked the government to step in, citing the millions that are owed to subcontractors and the impact on thousands of jobs and businesses in the southwest.

Steve Darling said:  'If the government is serious about their levelling up agenda, then the Secretary of State must step in to stop this engine of regeneration from collapsing and sending the South West's economy in to reverse.'


Property Services Division to be Sold


Mi-space (UK) Ltd, the property services division of the Midas Group, will be acquired by Bell Group, a UK-based building maintenance contractor, protecting an estimated 110 jobs.

Group Chair Stephen Hindley told the BBC: "The disruption and supply chain inflation caused by the COVID-19 pandemic resulted in a number of critical contracts being postponed or cancelled.”

"It has been a great privilege to work with our many employees, suppliers and customers over the years and my heartfelt thanks goes to them for the tremendous support that they have given to the business."

Picture: Image Credit: Unsplash

Article written by Ella Tansley | Published 09 February 2022


Related Articles

Trane Technologies Completes Acquisition of Nuvolo 

Trane Technologies, the home of building technology brands Trane and Thermo King, has completed its acquisition of asset management workflow software provider...

 Read Full Article
CBRE Acquires UK Asset Management Business

CBRE has acquired Sovereign Centros, a UK asset management and development management business. Sovereign Centros provides asset management for shopping centres and...

 Read Full Article
Planet Mark Acquired by Alcumus

Sustainability certification company and ThisWeekinFM Partner Planet Mark has been acquired by Alcumus. The move will allow Planet Mark to expand its client and...

 Read Full Article
Mitie Acquires Cliniwaste

Mitie has acquired healthcare waste disposal company Cliniwaste to bolster its clinical waste management provision. Cliniwaste, which specialises in treating plastic...

 Read Full Article
First Response Group Acquires Integrated Security Consultants 

First Response Group has acquired Wembley-based stadia security specialist Integrated Security Consultants. The acquisition will allow First Response Group (FRG),...

 Read Full Article
New Bristol Workspace Tops Out

The Welcome Building, a 207,000 sq ft landmark in Bristol city centre, has reached its topping-out construction milestone. A joint venture between EPISO 5 and Candour,...

 Read Full Article
Equans to Sell its UK District Heating and Cooling Network Activities

Equans, a subsidiary of the Bouygues group, is to sell its UK district heating and cooling network portfolio to a consortium formed by Swiss Life Asset Managers and...

 Read Full Article
Apleona Acquires Cambridgeshire-Based JCW Group

Global IFM provider Apelona has acquired JCW Group, a technical facilities management provider based in Royston, Cambridgeshire. The financial details of the...

 Read Full Article
Osborne Property Services Sold to Cargo Group

South-west-based building maintenance firm Cardo Group has acquired Osborne Property Services Limited. The move forms part of Cardo’s strategy to build a family...

 Read Full Article
Mitie Acquires JCA Engineering for £31.5m

Outsourcing firm Mitie has acquired Stevenage-based engineering contractor JCA Engineering in a deal worth £31.5 million. Mitie will pay an initial cash payment...

 Read Full Article