Brymor rescued from administration

Portsmouth-based construction company Brymor Group is under new ownership.

Brymor founder Stephen Morton 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 £76.3m and made a pre-tax loss of £625,000. Brymor Construction turned over £66.1m and lost £166,000 before tax.