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[165] [116] On 14 February, it was reported that blocking the deleveraging plan and removing key board members could trigger an immediate £66m repayment to lenders, weakening Interserve's financial position still further. Every teacher, headteacher, administrator, parent, or governor should read this exciting publication. [99][100], On 7 December 2018, Interserve was reported - for the second time in 2018 - to be in rescue refinancing talks, with banks and other debt holders (including RBS, HSBC, BNP Paribas, Emerald Asset Management and Davidson Kempner Capital) preparing to incur losses in a debt-for-equity swap that would see public shareholders virtually wiped out. It was announced on 25 March 2013[182] [181]. He sold the business to Deutsche Post DHL Group’s Willliam Lea in 2011. [83] Lenders agreed a further 30-day extension for completion of the refinancing paperwork[84] (concluded on 27 April). As the UK sought to rebuild infrastructure after the Second World War, the company established a civil engineering capability in the 1940s to participate in this activity; together with building these had become the company's focus by the 1960s. [163], Following the December 2020 sale of its FM operations to Mitie, Interserve was focused on three remaining divisions: Interserve Construction, RMD Kwikform, and the Citizen Services group of businesses. In March 2021, Interserve resurrected the Tilbury Douglas brand for its construction and engineering services businesses. [220], For the Christian mission agency Interserve, see, Post war to stock market listing – 1946 to 1960s, Acquisition of R M Douglas Holdings and expansion into the Middle East – 1990s, Diversification and name change – late 1990s and early 2000s, Acquisition of MacLellan and Madina Group – 2000s, International Organization for Standardization, Royal Society for the Prevention of Accidents, International Convention Centre, Birmingham, "Interserve PLC Full Year Results Announcement 2018", "Southern Blackwall: Preston's Road area", Tilbury Contracting and Dredging Company Limited, Obituary – Lieutenant Frederick Peter Hughes, MC, Obituary - Major Derek Cooper, MC, OBE, World War II hero who espoused the Palestinian cause, BBC WW2 People's War - An Archive of World War Two Memories, "Despatch submitted to the Supreme Commander, Allied Expeditionary Force on the 16th October, 1944, by Admiral Sir Bertram H. Ramsay, K.C.B., M.V.O., Allied Naval Commander-in-Chief, Expeditionary Force", "Khansaheb Civil Engineering - UAE: History", "Message from Chairman of Gulf Contracting Co W.L.L. [127] However, the Interserve board rejected this proposal,[128] while lenders lined up a precautionary 'pre-pack administration' that would wipe out existing shareholders but keep Interserve operating if the deleveraging plan was not approved. FORUM: for comprehensive education campaigns for the universal provision of state-provided education, and seeks to identify and expose all attempts to overturn the gains of the past years. We're looking for 4 or 5 new mods. These initially came under the control of the Royal Navy examination service,[11] where they were used to patrol harbour and river entrances. Professional fees for the 2018 refinancing totalled £43m with a further £33m set to be paid in connection with the deleveraging plan. [157], In June 2020, Mitie announced it was to buy Interserve's 40,000-strong facilities management business in a cash and shares deal initially worth £271m,[158] later valued at £190m (£120m in cash and a 17.5% shareholding in Mitie). [124], Coltrane remained opposed to the deleveraging plan, angered by expenditure on the plans and by directors' reluctance to invest in new shares. [148] In June 2019, chairman Glyn Barker was reported to be preparing to step down,[149] with Alan Lovell named as his successor in July 2019. Counties are set to be given at… Jan 26, 2021 ... Born in Lewisham, London, the 23-year-old prop grew up in Ballinrobe and currently represents Corinthians in the All-Ireland League. [1] Its headquarters are in Reading, Berkshire. [64] On 13 November, Interserve was set to axe 200 jobs in a cost-cutting drive,[65] with further job losses expected. [67] Interserve also appointed a rescue specialist, Scott Millar, as chief restructuring officer. In common with many major national and regional contractors in the post-war period, R M Douglas successfully bid for work in the construction of airfields and motorways where it completed various UK motorway building projects in the 1960s, 1970s and 1980s. [215] IIS and the claimants trade union, UNITE, were party to a collective agreement that provided for the company to "undertake as far as is practicable to place onto an appropriate contract an NECC accredited senior steward". [34][35] After re-structuring to accommodate the acquisition,[36] Interserve announced it had discovered accounting irregularities in its Industrial Services business - an announcement that saw its share price fall by 14%. In December 2017, Parish announced £75m-£100m plans to redevelop Selhurst Park, commissioning stadium architects KSS to build a new five-story Main Stand to increase the capacity from 26,000 to 34,000, transforming the matchday experience and providing enhanced community facilities. [11] The company, by then named Tilbury Contracting Group Limited,[3] applied for admission of its shares onto the London Stock Exchange and trading commenced on 12 October 1966.[16]. [107] Meanwhile, Interserve announced a £25m contract win at a Welsh hospital. [3] This expanded the geographical coverage of the company to the Middle East and this presence was further strengthened by the establishment of a joint venture in Qatar (Gulf Contracting Company). [142], Rival outsourcing firms including Mitie, Serco and Sodexo were reported to be considering bids to acquire Interserve's core support services business,[143] valued by lenders at around £300m. [166] [115] One major shareholder, hedge fund Coltrane Asset Management, while supportive of the CEO, requisitioned an extraordinary general meeting (EGM) calling for the removal of eight other directors; another shareholder, Farringdon Capital Management, also voiced opposition to the proposed rescue plan. [46][47][48], On 4 May 2012 the company acquired "Welfare-to-work" provider Business Employment Services Training (BEST), a UK provider of training and development for job-seekers and employers. [78][79] Interserve was reported to have cut 500 administrative staff in the last quarter and to be planning a further 1,000 job losses by the end of 2018. the , . He went on to buy a stake in a company called Adplates Ltd, assuming control of the business and renaming it Tag Worldwide, transforming it from a London-based business to a global production powerhouse with 2,800 employees in 13 countries. [82], On 21 March 2018 Interserve announced it had agreed commercial terms with its main bankers for extra cash facilities of £197m and fresh bonding facilities up to £95m. [3] To reflect this change in the company's business profile, it successfully applied in 2000 to the London Stock Exchange to relinquish its listing within the construction sector of the market, but to re-list within the support services sector on the FTSE market list. Net debt at 30 June was £614.3m, with Interserve expected to pay £80m in interest costs in 2018. to of and a in " 's that for on is The was with said as at it by from be have he has his are an ) not ( will who I had their -- were they but been this which more or its would about : after up $ one than also 't out her you year when It two people - all can over last first But into ' He A we In she other new years could there ? [53], On 28 February 2014, the company acquired Initial Facilities from Rentokil Initial for £250m. [126] Coltrane called the sell-off to fund debts "an obscenity,"[126] and, on 4 March, submitted a revised financial rescue plan (giving 55% of the company to creditors, leaving shareholders with 37.5%) and told directors to stop advocating rival proposals put forward by the company's lenders[123] (Coltrane later threatened legal action against Interserve's directors to hold them personally accountable for the company's losses). [156], In April 2020, the period of administration of Interserve plc was extended. The acquisition of Douglas also brought with it the construction equipment company Rapid Metal Developments (RMD) a formwork and falsework manufacturer, together with joint ventures in Oman (Douglas OHI)[25] and United Arab Emirates (Khansaheb),[26] both of which were initially established by Douglas in 1981. [16] In 1964 the Port of London Authority dredging contract ended, 76 years after it was first awarded, and the company ceased to operate as a dredging contractor in the UK. "[155] In March 2020, auditors red-flagged Interserve's finances as the company planned to break up its businesses. [20] Amongst this fleet of ships and boats was the company's dredger Gallions Reach, originally built in 1936 as a steam hopper, but converted at the outbreak of war to a salvage vessel,[21] this vessel rescued 123 men from the beaches and returned them to England. [13], "How much is YOUR Premier League club's owner worth? [73] On 21 February, Interserve announced it was closing its power lines business, putting over 70 staff at risk of redundancy. Net debt increased to £631.2m, and the company warned: "successful implementation of the Deleveraging Plan is critical to our future." [4], In June 2010, Parish led a consortium called 'CPFC 2010' to acquire Crystal Palace and save the club from a second spell in administration and from imminent liquidation after negotiating a £3.5m deal to buy Selhurst Park from Lloyds Bank. From 1991 it was known as Tilbury Douglas following a merger with RM Douglas, but in 2001 rebranded as Interserve plc. [108], Restructuring options included spinning off the £250m building materials unit RMD Kwikform to lenders, leaving the remainder of Interserve as a more focused support services business. [16] In addition to its dredging contract with the PLA, TCDC secured many other contracts including, between 1923 and 1927, the deepening and on going maintenance of the depth of the navigation channel and tidal harbour at the Port of Aberdeen [17] 1932 saw the firm begin work on a new harbour at Haifa in British Mandate Territory of Palestine that was completed in 1934. [55][56], On 14 September 2017, Interserve reported additional costs associated with quitting the energy-from-waste (EfW) sector. However, financial issues including problem contracts in Interserve's energy-from-waste business led to profit warnings in 2017. [3] In 1965 the remaining fleet of dredging vessels was sold to Westminster Dredging Company Limited. Interserve did not progress the bid and no formal offer was tabled. [7] After the scheme was granted planning permission by Croydon Council in April 2018, Parish said: "This project will not only transform the stadium, which has been our home since 1924, but it will also have a positive impact on the south London community”. [9] In July 2020, a month after Bromley Council granted planning permission, the Academy was awarded Category 1 status by the Premier League. On 9 December 1911 Singaporean newspaper The Weekly Sun reported that TCDC "the well-known dredging contractors of London, have entered into a contract…for the formation of a port known as Port Argentine" involving the dredging of 16 million cubic metres to form an approach channel some 9.5 miles long in the Buenos Aires province. '[210], It was announced that in April 2008 the company became subject to an investigation by the Office of Fair Trading (OFT) under the terms of the Competition Act. A total of 10 million cubic metres of material was to be dredged as part of these £1 million[12] works. [6] Lightering provided a service much in demand in the overcrowded river because of the need to transship goods from ships berthed there and to convey them to the riverside wharves, where the larger open water cargo ships were unable to dock due to their size and draft or, to more efficiently and effectively deal with the number of ships congregating in the river. [3][40] In 2008 Interserve expanded into markets in Abu Dhabi and Northern Europe. Send me your application at [email protected] Be sure to put mod application in the subject so I can find it. [6] In 2016, Crystal Palace reached the FA Cup Final but were beaten 2-1 by Manchester United. [162], Financial information for the company is as follows: [163] It offers advice, design, construction and equipment services for infrastructure in the United Kingdom and worldwide. [152] Derbyshire and Derby City Council said they were preparing to cancel the £950m waste management contract,[153] which was formally terminated in early August 2019. "[137] However, around 200 firms that provided IT, HR and property management services to Interserve plc risked not being paid. [123], On 27 February, Interserve announced its financial results for the year to 31 December 2018, recording a pre-tax loss of £111.5m on a turnover of £2904m (down 10.7% due to a drop in UK construction activity and tighter bidding criteria). In a pre-pack deal, the rest of the group was immediately sold to a newly incorporated company owned by lenders, Interserve Group Ltd, with a break-up of the company expected to follow. [118][119] In view of shareholders' opposition, on 22 February lenders were reported to be amending the debt-for-equity proposals so that existing shareholders would own 5% of Interserve. [2], Steve Parish began his career working in computer graphics. Disposal of Interserve plc's 49% stake (valued in 2018 at £2.7m) in a Qatari business was delayed due to the COVID-19 pandemic restrictions in Qatar, so administrator EY was granted a two-year extension until March 2022. src/public/js/zxcvbn.js This package implements a content management system with security features by default. [138] Mitie was repeatedly reported to be considering a bid of about £100m for the support services arm, which employs about 40,000 of the Interserve group's 45,000-strong UK workforce. Enda has previously managed this group of players at U14, U15 and U16. [11][12], In a Sunday Times column in October 2020, Parish explained why the Premier League was right to reject ‘Project Big Picture’, a plan by six of its members to restructure the league. [97] Interserve shares closed on 30 November down 6.5% at 28p. [41] On 25 February 2011 the company emerged as a bidder for fellow support services provider, Mouchel, as Interserve aimed to "target the rapidly growing market for fully integrated outsourcing services." [11], Lightering gradually declined due to the increase of road traffic, and dredging became the mainstay of the company. [42][43][44][45] However, after conducting due diligence on the consulting group, Interserve reduced its indicative offer to a reported £151m, or 135p per share, and this was subsequently rejected. [77] On 3 March, Emerald Investment Partners, the family firm of Punch Taverns founder Alan McIntosh, acquired £140m of Interserve debts on secondary markets in a bid to save the company. Interserve is accredited with compliance to the following International Organization for Standardization (ISO) standards:[188]. This can be seen vindicated by the decline in lighterage for dry bulk cargo after the middle of the 20th century, although the eventual decline in lighterage was caused by the adoption of road haulage as the main distribution method when London's docks moved downstream (away from what is now known as Docklands) and shipping adopted containerisation methods. that Interserve was to establish an Integrated reporting accounting system, a series of metrics that are designed to measure more than financial performance,[183] by contributing not only towards financial stability, but also sustainable economic development. [132], At the 15 March AGM, the deleveraging plan was rejected by shareholders,[133] and trading in the company's shares was suspended. [3], On 2 May 2006 Interserve acquired MacLellan, another support services business for £118m. The Financial Times reported the sale as including "the stakes are five in hospitals – including University College London, Carlisle and Newcastle – five in schools, two in prisons and several in defence establishments. The role of the examination service crews was to board all merchant ships and trawlers entering ports or rivers, scrutinise their papers and if need be to search these craft for evidence of intent to help the enemy. Tilbury Group was headquartered in Reading and predominantly involved in building work in the South of England and in Scotland, while R M Douglas was headquartered in Birmingham and its strongest regional presence was in the Midlands and the North of England with a strong bias towards civil engineering projects. [71] Market uncertainty following Carillion's liquidation continued, partly fuelled by a 30 January profits warning by Capita, after which Interserve's share price dropped nearly 20%. [131] Coltrane warned Interserve's prospective administrator against arranging a pre-pack insolvency deal, demanding rigorous and comprehensive marketing, and holding out the prospect that Coltrane might acquire the company from the insolvency process. Acquisitions included electrical engineering contractor J R Williams in 1997,[28] the facilities management and engineering services business How Group purchased for £46m in 1998,[29] the £75m takeover of industrial and equipment services specialist Bandt Group in 1999[30] and, in a £75m purchase, facilities management company Building and Property, responsible for providing accommodation and property services to government departments. Mention is made in 1907 of the role played by its dredging craft in widening and deepening the navigation channel of the River Clyde to assist the maiden voyage of RMS Lusitania, then the world's biggest ship. Interserve traces its origins to 1884, when the London and Tilbury Lighterage Company Limited was formed to transfer goods by sailing barge to and from ships on the River Thames, London, England. With its probation division set to be renationalised in June 2021, Interserve's other main division is RMD Kwikform. [52] Then on 7 January 2013 the organisation announced the acquisition of The Oman Construction Company for a cash consideration of $34.1m. [159] The acquisition was confirmed as completed on 1 December 2020. Interserve is a British multinational group of construction companies based in the UK.Before going into administration in 2019, the group generated revenue of £2.7 billion and had a workforce of 68,000 people worldwide in 2018. Parish was born in Forest Hill, London, attending Christ Church School and later Colfe's School. [105] Fearing problems similar to those faced by clients after Carillion collapsed, the Labour Party urged the Government to bar Interserve from bidding for public contracts,[106] but the Cabinet Office insisted Interserve was different to Carillion. [141] In June 2019, it was reported that Interserve had collapsed owing creditors over £100m. [49] Then on 12 October 2012 Interserve announced that it had sold its stakes in some UK private finance initiative hospitals, schools and prisons for £90m. [101][102] On 10 December, Interserve confirmed its deleveraging plan could result in "material dilution" for current Interserve shareholders;[103] shares dived,[104] eventually closing 53% down at 11.5p. [10], The company changed its name several times over the next few years; in 1896 to The London and Tilbury Lighterage Contracting and Dredging Company Limited, in 1904 to the Tilbury Contracting and Dredging Company Limited, then in 1906 to Tilbury Contracting and Dredging Company (1906) Limited, before In 1908 reverting to Tilbury Contracting and Dredging Company Limited (TCDC), a name it settled on for the following 56 years. As things stand, there's no plan to restructure the Leagues, but they may not start until the end of March. [80] On 8 March, a series of equity swap deals bolstered Interserve's share price;[81] the following day Interserve put its stake in the £200m Haymarket development in Edinburgh up for sale to help reduce its near £600m debts. [3] In April 2017, it was announced that Parish was going to join the Dragons' Den line-up for the 15th series of the show. The Observer’s "Good Companies Guide" 2008, compiled to establish Britain's most ethical companies[178] ranked Interserve in its top 20[179] out of all companies listed on the FTSE 350 Index, In 2012 Interserve established the Interserve Employee Foundation, a registered charity,[180] which as noted in the British Quality Foundation Achievement Award 2012 citation, "aims to improve the quality of life and life chances for people in the community where they live and operate by utilising the skills, capabilities, resources and enthusiasm of Interserve's employees." Mod Applications are open again. A deal was completed in December 2015 with US investors David Blitzer and Josh Harris, in which they each took an 18% stake in the Club, injecting £50m capital and becoming co-owners alongside Parish, who remained chairman.

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