A waste treatment business has been rescued from administration, saving 143 jobs.

New Earth Solutions, which has a site in Kings Hill, West Malling, has been acquired by DM Opco, run by financial restructuring and turnaround specialist Declan McKelvey.

The sale of its business, assets and operating subsidiaries came two days after appointing Sarah Bell and Philip Duffy, managing directors Duff and Phelps, as administrators on Tuesday, June 7.

It takes control of New Earth Solutions Group Limited and New Earth Solutions Facilities Management Limited, whose five sites across the UK will trade as New Earth.

The firm, which in 2013 was eyeing a float on the London Stock Exchange, manages around 450,000 tonnes of waste a year.

A spokesperson for DM Opco Limited said: “I look forward to working with the management team and all employees in order to re-establish the business and deliver strong future growth.

“New ownership has enabled the group to strengthen its balance sheet and it is now fully funded.”