RMD_Kwikform

RMD Kwikform

RMD Kwikform

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Altrad RMD Kwikform is a company based in Aldridge, England, that hires and sells temporary works and engineering design for building construction and infrastructure projects.

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History

The company was formed as Mills Scaffold Company in 1935 and became GKN Kwikform on acquisition by GKN in 1983.[1] It expanded rapidly in formwork and scaffolding under GKN ownership in the end of the 1980s.[2] In June 2000, GKN Kwikform merged with RMD (Rapid Metal Developments, established in 1948), the formwork and scaffolding unit of RM Douglas (part of Tilbury Douglas), to form RMD Kwikform.[3][1] Tilbury Douglas renamed itself Interserve in 2001.[4]

Projects built using RMD Kwikform equipment included the New Tyne Tunnel, completed in February 2011.[5] In 2015, RMD Kwikform launched its ground shoring range of products, extending its capabilities to ground works applications.[6]

When parent company Interserve got into financial difficulties in December 2018, 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.[7]

However, the Cabinet Office reportedly objected to any deal involving selling RMD Kwikform, believing this would render the remainder of the business almost worthless, making it difficult to continue awarding contracts to the company.[8] At the beginning of 2019, Interserve announced agreement on a deleveraging deal which retained RMD Kwikform in the group, but the plan was rejected by shareholders at an AGM on 15 March 2019.[9]

Interserve's board applied for the parent company to be placed into administration, and pursued a 'pre pack' deal,[10] selling the group, including RMD Kwikform, to a new company, Interserve Group Ltd, controlled by Interserve's existing lenders.[11]

In August 2019, Interserve appointed Ken Hanna as a non executive director of its board, and chairman of RMD Kwikform. RMD Kwikform had been the strongest performer in the group, but results in 2018 showed a 27% drop in operating profits to £39.6m, as turnover fell to £195.5m from £229m.[12] In October 2021, RMD Kwikform was sold to France's Altrad group for over £140m.[13][14]

References

  1. [1]
    "RMD Kwikform". Companies House. Retrieved 16 December 2018.
  2. [2]
    "GKN Forms GKN Powered Access to complement traditional scaffolding activities of GKN Kwikform". 8 June 1990. Retrieved 16 December 2018.
  3. [3]
    "RMD/Kwikform merge". Construction News. 1 June 2000. Retrieved 16 December 2018.
  4. [4]
    "History". Interserve. Retrieved 16 December 2018.
  5. [5]
    "The tale of the Tyne Tube". New Civil Engineer. 18 February 2010. Retrieved 16 December 2018.
  6. [6]
    "Business: A company that's on to a shore thing". Ground Engineering. 1 December 2014. Retrieved 16 December 2018.
  7. [7]
    Kleinman, Mark (15 December 2018). "Struggling Interserve may hand construction unit to lenders". Sky News. Retrieved 16 December 2018.
  8. [8]
    Davies, Rob (5 February 2019). "Interserve's lenders go head-to-head with Cabinet Office over rescue options". Guardian. Retrieved 5 February 2019.
  9. [9]
    Price, David; Garner-Purkis, Zak (15 March 2019). "Interserve rescue plan voted down". Construction News. Retrieved 15 March 2019.
  10. [10]
    "Interserve goes into administration after rescue deal rejected". The Guardian. 15 March 2019. Retrieved 15 March 2019.
  11. [11]
    "Successful completion of sale of the group (15 March 2019)". London Stock Exchange. Retrieved 15 March 2019.
  12. [12]
    Prior, Grant (28 August 2019). "Interserve confirms new chairman for RMD Kwikform". Construction Enquirer. Retrieved 28 August 2019.
  13. [13]
    Kleinman, Mark (6 October 2021). "Interserve break-up nears end with £140m sale of RMD Kwikform to French group Altrad". Sky News. Retrieved 7 October 2021.
  14. [14]
    "Interserve confirms RMD Kwikform sale to Altrad". The Construction Index. 7 October 2021. Retrieved 7 October 2021.
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This article uses material from the Wikipedia article RMD_Kwikform, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.