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DeLeuw Rothwell rescued from receivership

PELL FRISCHMANN has rescued consultant DeLeuw Rothwell from administrative receivership, it emerged this week.

DeLeuw Rothwell went into administration at the end of last month after failing to find a buyer. It came close to being taken over by Parsons Corporation, but the deal collapsed at the last minute (NCE 1 June).

Pell Frischmann chairman Wilem Frischmann said it had bought the firm from administrator Smith & Williamson because of its specialist rail, nuclear and civil engineering expertise.

Frischmann added that the DeLeuw name was well respected from the days when DeLeuw Cathard was a respected American rail consultant.

Pell Frischmann has taken on the firm's 45 staff, but not DeLeuw Rothwell managing director Peter Treadgold.

Frischmann said that Treadgold had left by mutual agreement when it became clear that Pell Frischmann management would handle the day to day running of the business.

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