Morson Group acquires part of Vital Services Group
Ged Mason, CEO of Morson Group, comments: “We are delighted that Vital Human Resources Limited will join the Morson Group of companies and that we have safeguarded thousands of jobs.
“Vital have an extremely strong brand within the rail, power and infrastructure markets, particularly in skilled blue collar disciplines, and as such Morson and Vital are extremely well placed for future growth.
“A large percentage of Vital’s staff have been with the company for many years and will provide experience and knowledge in their roles. We look forward to developing our market share and offering to our clients and contractors extended services and coverage as part of the enhanced Morson Group. Vitals’ initiatives to invest in creating the skills of tomorrow are critical for the success of the many infrastructure projects within the country.
“We would like to welcome our Vital colleagues to the Group, and look forward to a prosperous and exciting future.”
Dan Smith, joint administrator and partner in Deloitte’s Reorganisation Services practice, said, “The Group has suffered recently from cash flow pressures. The sale of the trade and assets of these companies minimises disruption in the continued delivery of these essential services to the rail industry and secures jobs.”
John Smith, founder and CEO of Vital Services Limited, stated, “We are very pleased with the transaction which we are certain will benefit our customers and contractors alike.
“The exciting combination of Vital and Morson will see the development of a market leader with a worldwide presence. With over 12,000 contractors on assignment and an annualised Group turnover approaching £700 million, the Group will be able to offer a diverse range of services and enhanced coverage to our customers to the highest professional standards. We look forward to a long and fruitful relationship.”