Environmental management company Fountains has announced that its long-term financial future is now secure following completion of its sale to a group of financial institutions.
Fountains, which provides forestry services, is the trading name of Connaught Environmental, the part of Connaught plc that was unaffected by the latter’s collapse in September 2010.
Fountains, which has traded normally since Connaught was placed in administration, is now owned by financial investors including Royal Bank of Scotland and Alchemy Partners.
“This is a significant step for our company and provides us with stability and security of finance that will allow us to continue with our growth plans,” said Richard Haddon, Fountains’ chief executive.
