Kier Group has announced that it has completed the disposal of loss-making plumbing and heating business Wheldon Contracts and Services.
The company has been sold to Eighty Seven Holdings for £400,000.
Wheldons, acquired in July 2017 as part of Kier's acquisition of McNicholas, provides heating services in the housing and commercial sectors for registered providers and contractors.
For the financial year ended 30 June 2017 (prior to its acquisition by Kier), Wheldons reported a loss before tax of £2m. In the financial year ending 30 June 2018, Wheldons is expected to report a marginal loss before tax of approximately £0.6m.
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