Nottinghamshire County Council finalise outright purchase of Via East Midlands
Nottinghamshire County Council has now finalised the outright purchase of Via East Midlands, which provides the county’s highways and fleet services.
Via started operating in July 2016 as a partnership between Nottinghamshire County Council and Corserv, a company owned by Cornwall Council.
Nottinghamshire County Council has now bought out Corserv’s shares worth £5m.
Nottinghamshire County Council Leader, Councillor Kay Cutts said: “Following a successful partnership between Via and Corserv, we have now agreed to go our separate ways in order to develop different models of service delivery.
“We are investing in Nottinghamshire in buying these shares. It means our highways and fleet management services are now wholly-owned and controlled by Nottinghamshire County Council so we can be sure our road network continues to meet the needs of local people and businesses.
“Via will operate from our purpose-built building in Bilsthorpe, employing local people and supporting the local economy. All profits generated by Via through its commercial work will be re-invested in Nottinghamshire for the benefit of local residents.
“We have ambitious plans and want to ensure that Via grows and diversifies its business across the whole of East Midlands. This will increase the money flowing back into our county for the benefit of local people.”
Doug Coutts, Managing Director at Via East Midlands, said: “Nottinghamshire County Council’s purchase is a huge vote of confidence in Via and a testament to what we’ve delivered to date.
“For residents of Nottinghamshire, our customers, employees and suppliers, it is very much business as usual and we look forward to further developing the services we deliver across the county.”
Cornwall Council’s portfolio holder for customers, and chairman of the shareholder board Mike Eathorne Gibbons said: “The sale of Via East Midlands represents a significant success for the Corserv Group. The joint venture business has delivered beyond expectations, creating a sustainable business that will serve Nottinghamshire well into the future.”
Cath Robinson, Group Managing Director of Corserv, said: “We are pleased to have assisted in the development of Via into a successful highways business, which Nottinghamshire County Council will now wholly own. The Via joint venture is testament to the Corserv Group’s ability to deliver successful solutions for complex, local authority requirements.”