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Sun July 03 2022

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Midas administrators sell Mi-Space to Bell

9 Feb Building maintenance contractor Bell Group has completed the acquisition of Mi-Space (UK) Ltd, the property services division of the Midas Group.

The deal to purchase the Mi-Space business and certain of its assets out of administration saves 46 jobs.

However, 303 more have been let go by the administrators.

Mi-Space provides maintenance services for a range of local authorities and social housing landlords. It turns over about £20m a year.

Its parent company, Midas Group, disclosed trading problems last month. On 28th January it filed notices of intention to appoint an administrator in respect of Midas Group, Midas Construction Ltd and Mi-Space (UK) Ltd.

Bell’s headquarters are in Scotland but it already has offices across the southwest – in Plymouth, Taunton, Bristol and South Wales, with plans to open in Exeter in 2022. The family-owned firm has more than 2,200 employees nationally, with 312 of those in the southwest.

Bell Group chief executive Craig Bell said: “We are very pleased to have been able to complete this acquisition of Mi-Space (UK) Ltd and to be protecting some of the jobs and a significant part of the Midas Group business.

“The expertise and enthusiasm within Mi-Space (UK) Ltd is an excellent fit for Bell Group as we continue to grow our business based on true family values, excellent customer service and our support for our employees and for local communities.

 “We look forward to welcoming the Mi-Space team into Bell Group and we would also like to thank current Mi-Space customers for working with us and helping us support local jobs and local supply chains.”

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