Nottinghamshire County Council splash £5m on Via East Midlands

Nottinghamshire County Council is to spend £5m on the outright purchase of Via East Midlands, which provides the county’s highways and fleet services.

Via started operating in July 2016 as a partnership between Nottinghamshire County Council and Corserv, a company owned by Cornwall Council.

Prior to that the county council provided highways functions in-house.

Less than three years on, Via will be 100%-owned by the county council, which has now bought out Corserv’s shares, which are worth £5m.

Via East Midlands Ltd was 51% owned by Corserv Ltd and 49% by the county council.

Operations staff transferred in to Via from the existing NCC highways department, while Corserv provided Via with support services, including finance, health and safety, governance and procurement.

Asked how outright ownership differed from the in-house arrangements, the county council said: “Because Via operates as a commercial company, with its own board of directors, it can also work commercially which means that, as sole shareholder, the county council can use all profits generated through the commercial work to reinvest in Nottinghamshire to the benefit of local people. This wouldn’t be possible if services were provided in-house.”

Council leader Kay Cutts said: “Our highways and fleet management services are now wholly-owned and controlled by Nottinghamshire County Council so we can be sure our road network continues to meet the needs of local people and businesses.

“Via will operate from our purpose-built building in Bilsthorpe, employing local people and supporting the local economy.

“All profits generated by Via through its commercial work will be re-invested in Nottinghamshire for the benefit of local residents.

“We have ambitious plans and want to ensure that Via grows and diversifies its business across the whole of East Midlands.”