PCM Ltd, the London-based construction consulting arm of the troubled Pettifer Group, has been sold to Confluence Project Management, for an undisclosed sum.
The purchase of PCM by the Australian-based project management firm saves 64 jobs, and is a welcome relief following the slide into administration of the family-run Pettifer Group, earlier this month.

Warwickshire-based failed contractor Pettifer Construction entered administration on November 27, making more than 100 employees redundant. Pettifer Estates entered administration on December 3 and was followed by its owner the Pettifer Group which entered administration on December 8.

The Pettifer building firm was established more than 50 years ago by Tom Pettifer. The Pettifer Group (owners of Pettifer Construction and Pettifer Estates) employed a total of 350 staff. Administrator KPMG reported it was continuing to work on the administrations of Pettifer Construction, Pettifer Estates and the Pettifer Group.