A mechanical and electrical constructing companies specialist that seemed like it might be one of many worst-hit of ISG’s subcontractors now says that the contracting big’s collapse supplied it with important progress alternatives.
Upkeep & Contracting Companies (MCS) was named in an directors’ report in 2024 as being owed greater than £10m by ISG Match Out.
However newly revealed accounts for the 12 months to 31 March 2025, overlaying the interval when ISG went below and its aftermath, present MCS elevated its turnover to £61m within the interval, up from £54.6m within the prior 12 months.
Its pre-tax revenue jumped to £5.9m, from £2.9m in 2024.
Final 12 months the specialist, which was a strategic provide chain companion to the ISG, stated it had managed to scale back its publicity from the insolvency to only £115,770 due to purchasers on three giant London initiatives.
Within the newly launched accounts, the specialist stated the collapse was difficult however had truly helped its progress.
Managing director Scott Hill stated in a notice with the outcomes: “The administration of ISG in September 2024 offered quite a lot of challenges to the enterprise, for which it was effectively ready and efficiently capable of navigate.
“Whereas difficult on the time, the ISG administration has supplied important quick, medium and long-term progress alternatives available in the market, and strengthened each present and new consumer relationships.”
Hill added that the corporate would proceed to give attention to strengthening relationships and its supply mannequin to “enter a interval of progress”.
The corporate expects “important will increase in turnover for the following 5 years”, in step with its ambition of “sustainable long-term progress”, he stated.
The outcomes additionally confirmed that firm subsidiary MCS Built-in Options, which focuses on small works and services administration jobs, doubled in dimension, though the accounts don’t element its income.
It contributed £269,000 to MCS’s revenue within the 12 months, in contrast with £69,600 in 2024.
Hill stated the subsidiary was below new management and was anticipated to attain “additional substantial progress” by way of a robust ahead order ebook.
ISG, which turned over £2.2bn in 2022 and made a pre-tax revenue of £11.5m, went below after a long-running effort to promote the enterprise broke down in September 2024.
It employed greater than 3,000 individuals.
Earlier this week, Development Information revealed that the overall debt claims following the collapse of ISG firms, as obtained by directors at Azets and EY, handed £1bn.
Neither insolvency agency expects unsecured collectors to obtain any a reimbursement.
