Alun Griffiths, now 84, has teamed up with former directors Tim James and Simon Dunn to rescue the Abergavenny-based business after a troubled spell under CRH-owned Tarmac’s ownership.

The deal is expected to be officially announced shortly, with the new leadership team aiming to rebuild the £260m turnover business after five years of accumulated losses totalling nearly £170m.

Annual losses peaked at £95m in 2023, according to most recent published accounts for the year, triggering a cost-cutting programme, including recently opened consultations on job cuts.

Insiders told the Enquirer that staff redundancy consultations have now been paused while the incoming management reviews operations.

“The view is Alun wants to rescue the firm that still carries his name above the door, save jobs and build the business back to where it was,” said one source.

(l-r)Tim James and Simon Dunn

James and Dunn, who both left the business just over a year ago, are returning as managing and deputy managing director.

The pair most recently worked at Cambrenis Civil Engineering, a firm industry veteran Griffiths set up two years ago.

Former Griffiths managing director David Parr has exited to rejoin Farrans, where he spent two decades before taking charge at Griffiths just over two years ago.