{"id":859097,"date":"2025-06-30T10:11:29","date_gmt":"2025-06-30T15:11:29","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/30\/svella-to-acquire-cubby-construction\/"},"modified":"2025-06-30T10:11:29","modified_gmt":"2025-06-30T15:11:29","slug":"svella-to-acquire-cubby-construction","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/30\/svella-to-acquire-cubby-construction\/","title":{"rendered":"Svella to acquire Cubby Construction"},"content":{"rendered":"
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\"Andrew-Tinkler-SVELLA.jpg\"<\/p>\n

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Investment firm Svella has agreed a deal to acquire Carlisle-based contractor Cubby Construction.<\/p>\n<\/div>\n<\/header>\n

Family-run Cubby has been operating since 1968 but it had recently experienced difficulties, its director revealed.<\/p>\n

The Cumbria<\/em> News & Star<\/i> quoted director Tommy Cubby as saying the firm had suffered financial issues when working on and subsequently leaving Galliford Try\u2019s\u00a0 Carlisle Southern Link Road<\/a> project last year.<\/p>\n

It also reported that damage to the roof of the Sands Centre in Carlisle during Storm Eowyn in January had compounded the contractor\u2019s problems.<\/p>\n

In a statement, Svella said it was \u201ctargeting completion of the solvent acquisition of Cubby Construction Ltd by the end of June.<\/p>\n

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\u201cThis development represents a highly positive outcome for customers, employees and suppliers alike. <\/span><\/p>\n

\u201cThe acquisition will ensure continuity of operations for Cubby Construction and provide the investment necessary to support the long-term growth and success of the business.\u201d<\/span><\/p>\n

Cubby\u2019s accounts for the year to 31 May 2024 are overdue, according to Companies House.<\/p>\n

The firm\u2019s most recent accounts showed revenue of \u00a324m for the year to 31 May 2023, up from \u00a320.8m the year before.<\/p>\n<\/div>\n

But its pre-tax profit decreased from \u00a3630,000 to \u00a3582,000, and directors said the firm had experienced \u201ca difficult few years\u201d<\/span> due to the Covid pandemic.<\/p>\n

The contractor employed a monthly average of 157 staff. It had an annual wage bill of \u00a35.6m and had paid out \u00a3194,900 in dividends.<\/p>\n

It had a short-term repayable overdraft worth \u00a3403,400, but no long-term loans.<\/p>\n

Svella, which is chaired by former Stobart chief executive Andrew Tinkler (pictured), was set up in 2018.<\/p>\n

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Since that time it has acquired the plant hire and transport divisions of NMCN and Aberla Utilities.<\/p>\n

NMCN was a \u00a3400m-turnover utilities contractor that went into administration in October 2021<\/a> with Svella as a secured creditor.<\/p>\n

Cumbria-based Svella targets distressed and underperforming businesses, particularly in civil engineering, construction, energy, infrastructure, logistics and transport.<\/p>\n<\/div>\n<\/header>\n<\/div>\n

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\n Nicola Harley<\/p>\n","protected":false},"excerpt":{"rendered":"

Investment firm Svella has agreed a deal to acquire Carlisle-based contractor Cubby Construction. Family-run Cubby has been operating since 1968 but it had recently experienced difficulties, its director revealed. The Cumbria News & Star quoted director Tommy Cubby as saying the firm had suffered financial issues when working on and subsequently leaving Galliford Try\u2019s\u00a0 Carlisle<\/p>\n","protected":false},"author":1,"featured_media":859098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27493,110728],"tags":[],"class_list":["post-859097","post","type-post","status-publish","format-standard","has-post-thumbnail","category-acquire","category-svella"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/859097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=859097"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/859097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/859098"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=859097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=859097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=859097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}