A KIDDERMINSTER facilities management firm has been bought out of administration in a move which has saved 400 jobs.
Phosters (FM), which is based at Campion House on Green Street, entered administration on June 6.
Rob Keyes and David Taylor of KRE Corporate Recovery were appointed as joint administrators.
The firm has been sold to Cambridge Maintenance Services, part of the Mecsia group of companies.
The deal includes the transfer of all 400 employees, allowing services to continue for customers across the UK and Europe.
In its latest filed accounts for the year ending December 31, 2024, Phosters reported turnover of £29.4m and a pre-tax loss of £1.9m.
A spokesperson for Cambridge Maintenance Services said: “We are pleased to welcome Phosters colleagues into the Group following the acquisition of its business and assets out of administration.
“This step brings the operational business onto a secure, stable foundation for the future.
“This step helps protect many jobs across the business and maintain the services that Phosters’ customers rely on.
“For customers, it remains business as usual.
“Existing service teams, points of contact and planned works will continue, and we do not anticipate any disruption to day-to-day service delivery.”
Although the firm’s current structure has a relatively short history, Phoster’s roots can be traced back to 1918.
It provides outsourced facilities management services across operational, technical, commercial, environmental and strategic areas.
This includes planned and reactive building maintenance, mechanical and electrical works, lift maintenance, cleaning, hygiene services, landscaping, security and air conditioning.
The company also provides wider workplace support services such as call-out centres, mail rooms, grounds maintenance and interior plant services.
