{"id":523587,"date":"2025-06-27T10:31:30","date_gmt":"2025-06-27T09:31:30","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=523587"},"modified":"2025-06-27T10:31:30","modified_gmt":"2025-06-27T09:31:30","slug":"svella-to-acquire-cubby-construction","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/financial\/ma\/svella-to-acquire-cubby-construction-27-06-2025\/","title":{"rendered":"Svella to acquire Cubby Construction"},"content":{"rendered":"
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Investment firm Svella has agreed a deal to acquire Carlisle-based contractor Cubby Construction.<\/p>\n<\/div>\n<\/div>\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","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":155153,"featured_media":445496,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[552,553],"tags":[],"class_list":["post-523587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-ma"],"yoast_head":"\nSvella to acquire Cubby Construction | Construction News<\/title>\n<meta name=\"description\" content=\"Investment firm Svella has agreed a deal to acquire Carlisle-based contractor Cubby Construction. 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