New Earth bought shortly after entering administration

0
18
Advertisement

After entering into administration last week, New Earth Solutions has been bought by DM Opco.

Parent companies New Earth Solutions Group and New Earth Solutions Facilities Management and subsidiaries were forced into administration after its senior lenders refused to provide an equity injection into the business after negotiations to sell the business failed.

New Earth ran five mechanical biological treatment plants and in-vessel composting facilities.

These along with its head office in Verwood, Dorset have been sold to DM Opco.

A spokesman said: “The sale, to DM Opco, has safeguarded 143 jobs across the New Earth Group’s five operating sites and head office in Verwood, although none of the operating sites themselves are in administration.

“The business, assets and subsidiaries of the companies, which were purchased by DM Opco will continue to trade as New Earth.”