An Abergavenny businessman is set to buy back the company he previously sold to help rescue the firm, which is behind the dualling of the A465 Heads of the Valleys Road.

Alun Griffiths who is 79-year-old is a popular character in the area and sold his business to the Tarmac group in 2018, was confirmed as a director of Alun Griffiths Contractors Ltd, based in Llanfoist, once again on May 8.

Mr Griffiths sold the company for £36m in the same year the firm finished work on 16 structures on the Gilwern to Brynmawr stretch of the A465, which was coined as ‘section 2’ of the work.

The company has made a loss in four consecutive years, including a pre-tax loss of £95 million in 2023. Total losses during the period amount to £170 million.

The deal is expected to save hundreds of jobs across the country, with the Tarmac Group confirming it is dedicated to ensuring business continues as normal on its current projects.

“Tarmac will continue to work closely with Alun Griffiths Contractors Ltd to ensure there is a smooth transition on a business-as-usual basis,” a spokesperson said.

“The intention is to refocus the company as a privately owned entity with an emphasis on its established strengths of safety, customer service, engineering excellence and a local geographic presence.”

Companies House records also show Mr Griffiths will be aided by Tim James and Simon Dunn, who are returning as respective managing and deputy managing directors.

Notable projects the company is working on include the electrification of the Core Valleys Lines, the A40 Bus Stop Scheme in Abergavenny and a joint effort to develop the new £60m transport hub at Bristol Airport.

Staff were consulted in March about the company’s financial difficulties, but talks about redundancies are on hold while the incoming management review the situation.