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Interserve has sold its scaffolding arm for 拢3.6m as it winds up activity in industrial contracting.

The contractor provided scaffolding services to housebuilders and other contractors, as well as a scaffolding, insulation and painting (SIP) services package to large industrial sites.

In addition to the up-front cash, Interserve will pick up an extra 拢1m from sale of the business to Cheshire firm Enigma Industrial Services, subject to financing targets being met in 2018/19.

According to Companies House, Interserve Industrial Services changed its name to Enigma yesterday and in its last set of accounts Interserve Industrial Services posted a turnover of 拢77m, down from 拢117.6m, in the year to December 2017. It made a 拢5m pre-tax loss compared to a near 拢3m profit in 2016.

The firm鈥檚 former directors including finance director Chris Ling, head of business development Philip Clark and HR director John Lambert will all remain at Interserve鈥檚 support services business where the industrial services arm sat.

The renamed busines will continue to be led by managing director Scott Hardie who was appointed to the role in March this year.

In April, Interserve鈥檚 chief executive, Debbie White, said the contractor would weed out unprofitable areas of the company after it suffered a 拢244m loss in 2017. 

She said today鈥檚 sale was part of the firm鈥檚 鈥渟trategy to focus on core customer segments鈥�.