Keltbray is understood to be in advanced talks to sell its infrastructure division.
Industry sources told the Enquirer earlier this week: “It’s an open secret that a deal is being done and the firm is being broken up.”
Keltbray declined to say any more than “we never comment on market speculation of this nature.”
It is understood that the infrastructure arm will be sold and headed up by existing chief executive Darren James.
Any deal would leave behind the building business under owner and executive chairman Brendan Kerr.
Latest results for Kelbray showed the firm suffered a pre-tax loss of £1.2m for the year to October 31 2023 from a turnover of £689m.
The infrastructure division covering rail, energy and highways accounted for £378m of group revenue during the year.
