McAvoy Group lands £40m education projects in England
OFFSITE building specialist McAvoy has said its path to recovery is continuing with work now ongoing on three education projects in England valued at £40 million.
The work for the Department for Education in London, include The Cavendish School in Cambridgeshire; Merstham Park Secondary School near Reigate; and Laureate Academy in Hemel Hempstead.
It comes just six months after McAvoy announced a return to profitability following a major restructuring of the firm.
The former family-owned offsite manufacturer was acquired by London financier Mubashir Mukadam in February 2020 following tumultuous two years in which it recorded pre-tax losses of around £23m.
The overhaul of McAvoy saw the company centralise all operations in Lisburn in late 2020 following the sale of its flagship headquarters in Co Tyrone.
Last July, the manufacturer announced the changes were producing results, with a 30 per cent surge in turnover to £23.8m for the six-months to April 30 2021, helping return its profits to the black.
McAvoy secured a major boost in December when it retained its place on the the latest iteration of the Department for Education's lucrative £7 billion four-year construction framework for the delivery of school buildings in England.
Chief executive Ron Clarke said despite the challenges of Covid-19, the business had invested heavily in recent months.
“We're delighted to have been entrusted with the delivery of these latest contracts by the DfE,” he said.
“Given the huge disruption to education during the pandemic, it's more important than ever for new school buildings to be delivered quickly and efficiently on programme and to the highest standard.”