ES Group sold amid 2012 authority pressure

ES Group has been bought and renamed ES Global after ongoing financial problems, and deadlines imposed by Locog and the Olympic Delivery Authority, forced changes.

ES Group bought and renamed after financial trouble
ES Group bought and renamed after financial trouble

ES Gobal was incorporated in February, and consists of three shareholders: Steven Corlfield Moore, Shane McCarthy and 50% owner Tony Nobbs. Six parties had made formal bids for the company.

ES Group creditors have been informed that accountacy firm PKF will now be handling their debt, and that it was brought in after meetings with ES's bank. In all documents ES Group is referred to as North Woolwich Realisation - named after the street on which it operates. ES Group had entered adminstration before the sale to ES Global.

From information provided by the company, 13 unsecured creditors were owed in excess of £100,000 and in total more than £5m.

"This business has an enviable name and reputation in its industry and the new investment group [is] pleased to be able to provide a stable financial operational future, securing jobs and maintaining our strong capablity to deliver a premium service to clients in the UK and internationally, now and into the future," said ES Global chairman Tony Nobbs.

"While the business has clearly been through a challenging period, we can look forward with some confidence underpinned by a healthy outlook and a strong, experienced team in place."

ES Group was considered one of the UK's major event supplier, logistics and event management firms, and worked on the Commonwealth Games in India. It is understood to have picked up major contracts for London 2012.

As part of the takeover, the trucking arm of ES Group was sold to Transam Trucking.

The ES Group website is not currently in operation. Further updates to the story will appear on the Event website.

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