London-based Szerelmey Group has bought four companies connected with heritage building firm William Anelay, which went into administration earlier this month.
This latest deal means Szerelmey has now rescued staff and business assets at three major restoration firms in the last two years.
It came to the rescue of Chichester-based Cathedral Works Organisation in 2014 and Fairhurst Ward Abbotts last year after administrators were called in at both firms.
Szerelmey has now stepped in and bought a controlling stake in Lowery Roofing, Hare and Ransome Joinery and Anelay Building and Conservation North East, which has offices in York, and Anelay Building and Conservation North West which has offices in Irlam, Greater Manchester.
This will secure the jobs of up to 50 staff allowing the firms to progress work currently on site as well as taking on new projects that could see them deliver a total turnover of around £12m during the next 12 months.
Like William Anelay, The Szerelmey Group, is a long-established family business that has specialised in stonework, faience and restoration work since 1855.
Its portfolio already includes several heritage and restoration businesses whose skills are crucial in a highly specialist sector.
Charles Anelay, the eighth generation of the founding family of William Anelay, said: “This acquisition removes all the uncertainty and brings fresh stability to these businesses by securing jobs with traditional craft skills and providing continuity for our clients
“As such, it is very good news for our staff, good news for York and our region, and the North West, and good news for the heritage restoration sector.”
William Anelay had been trading continuously since 1747 and worked on scores of high-profile historic and listed buildings schemes throughout the UK.
It was forced into administration after its creditors rejected the offer of a company voluntary arrangement as a potential way forward.