 The Interserve "Hydra" logo, based on an organism that does not have a recognizable brain | |
| Company type | Limited company |
|---|---|
| Industry | Infrastructure - professional services, construction services, construction equipment hire and sale |
| Predecessor | Interserve plc Tilbury Douglas plc Tilbury Group plc R M Douglas Holdings |
| Founded | 1884 |
| Headquarters | , |
Area served | Worldwide |
Key people | Alan Lovell, Chairman |
| Products | Formwork Systems, Joinery products |
| Revenue | £2,241.7 million (2019)[1] |
| £(56.0) million (2019)[1] | |
| £(46.9) million (2019)[1] | |
Number of employees | 34,721 (2019)[1] |
| Subsidiaries | see Operations |
Interserve was a British construction and support services business based in Reading, Berkshire, which went into administration in 2019 and was formally wound up in 2022. In 2019 the group generated revenue of £2.2 billion and had a workforce of 34,721 people.[1]
The company was founded in 1884 as the London and Tilbury Lighterage Company Limited. From 1991, it was known as Tilbury Douglas following a merger with RM Douglas, but in 2001 it rebranded as Interserve plc. The name change partly reflected a shift in focus during the 1990s towards maintenance and facilities management services sectors, and this continued in the 2000s, buoyed by further acquisitions.
However, financial issues including problem contracts in Interserve's energy-from-waste business led to profit warnings in 2017. The company was forced to restructure and refinance in March 2018. After its financial situation worsened in late 2018, debt holders discussed further financial restructuring of the business. A debt-for-equity plan was rejected in March 2019, and Interserve plc went into administration owing creditors over £100m. In a pre-pack deal, the rest of the group was immediately sold to a newly incorporated company owned by lenders, Interserve Group Ltd, and a break-up of the company followed. Interserve's facilities management business was sold to Mitie in December 2020, and RMD Kwikform was sold in October 2021 to France's Altrad.
In March 2021, Interserve resurrected the Tilbury Douglas brand for its construction and engineering services businesses. Interserve plc was formally wound-up in the High Court in January 2022. In June 2022, Tilbury Douglas fully separated from Interserve Group and became a standalone construction contracting company. Some smaller assets are expected to be sold before Interserve Group is finally shut down in 2024. In October 2022, Interserve was fined £4.4 million for a breach of data protection law in May 2020.