Some jobs to be saved in South West as company buys property division of Midas

Dozens of South West jobs have been saved after a property services company bought a division of Exeter-based construction firm Midas.

Bell Group has completed the acquisition Mi-Space, the property sector of the firm Midas, preserving 46 jobs.

The Bell Group says an estimated 60 further indirect jobs have been saved as a result of the deal.

Midas, a company that supports over 10,000 jobs in the supply chain across the region, announced on January 29, that it would seek to appoint administrators.

Now though it appears that the Exeter-based construction giant will enter administration with staff from Teneon now in charge of the construction group.

ITV reported last week that up to 1,000 jobs could be at risk and building projects halted across the South West as the firm confirmed its intention to appoint administrators.

• Tim Jones, Chair of the South West Business Council on how the potential job losses will affect people in the West Country

The Bell Group already employs 2,200 people across the UK with over 300 of those being in the South West.

The group has offices across the region in Plymouth, Taunton, Bristol, and South Wales, with plans to open up a new office in Exeter in 2022. 

Craig Bell, the Bell Group Chief Executive said: "We are very pleased to have been able to complete this acquisition of Mi-space (UK) Ltd and to be protecting some of the jobs and a significant part of the Midas Group business.

“The expertise and enthusiasm within Mi-space (UK) Ltd is an excellent fit for Bell Group as we continue to grow our business based on true family values, excellent customer service and our support for our employees and for local communities.

“We look forward to welcoming the Mi-space team into Bell Group and we would also like to thank current Mi-space customers for working with us and helping us support local jobs and local supply chains.”

ITV West Country has approached Midas for comment.