Administrators were called into the business in January 2013, putting hundreds of jobs at risk. Within three days it was bought by the senior management team of John Duffy and managing director Alan Cooper.
They struggled at first to meet the debt repayment terms because of difficulties recovering their own debts but they were able to negotiate an extension to the payment deadline with BDO.
The new owners have now cleared the £1.5m debt to creditors, retained the majority of staff and report a strong order book.
Managing director Alan Cooper said: “It has been a tough journey to collect old debts on behalf of old company creditors, but we are pleased with the final result. It is really positive news for us and for creditors of the old business. We are also currently pursuing further debts, which mean our creditors are due to get more than was originally predicted.
“This repayment marks the end of a very long campaign that started within days of the administration and management buyout. The management buyout allowed us to secure a future for the business, significantly enhancing the prospects for creditors.”
The company, which has its head office in Leeds plus regional offices in Leamington Spa and Perth, entered administration due to huge legacy debts from its property sister company in January 2013.
Mr Cooper added: “The new business has been trading for one year now. We are recruiting staff, buying machinery and have a profitable business model which is being further enhanced by our investment in new areas. Additionally we have entered into the international market with our office opening in Oman, which we believe holds a significant opportunity for the growth of the business.”
Among new contracts on which Hewlett starts construction this month is a project to build a road and sewers for a Barratt development of 55 new homes in Wakefield.
It is also mobilising on a project for new client, Imtech Inviron at RAF Leeming. Hewlett will carry out trenching works in preparation for installation of a district heating system.
Other recent contract wins include installation of a pedestrian subway tunnel under the A57 at Worksop for Lindrick Golf Club, linking two halves of the golf course. The planned underpass is a 3m-high by 2.5m-wide prefabricated concrete box culvert under the road.
Hewlett has also been awarded a contract by Network Rail for repairs on two platforms at Bexley station in southeast London.
Completing the list of new contracts is a substation enabling job at Hunterston East for Scottish Power Systems. Hewlett will provide a new construction platform for the proposed 400kV GIS substation, external drainage and a new access track and amendments to the existing access track. Contract duration here is 18 weeks and Hewlett will be supplying offices, maintenance and security for follow on contracts up to 107 weeks. The contract value is £970,000.
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