English demolition specialist Keltbray Group has sealed a deal to buy the assets of collapsed Scottish civil engineering business Dunne Group, including its former yard and head office in Bathgate.
The acquisition, for an undisclosed price, also includes plant used for reinforced concrete structures, and follows the collapse of Dunne into administration in July that put 524 jobs at risk. About 200 of these were in Scotland.
FRP Advisory, the joint administrator to Dunne, said it was very happy with the deal with Keltbray as it also revealed that about 400 former staff at the Scottish group had been taken on by new employers.
Tom MacLennan, partner at FRP Advisory, said: “We are delighted to have agreed a deal with Keltbray Group, and wish the company every success with their future plans.
“We have been delighted with the response of the contracting industry to the administration of Dunne Group, and estimate that since our appointment over 400 former staff have now found new employment.”
Surrey-based Keltbray issued a statement saying it “has acquired some of the assets of Dunne Group from the administrators after Dunne Group went into administration in July.
“This purchase includes the former yard and head office for the group at Bathgate, as well as plant used for the construction of reinforced concrete structures.
“Keltbray sees this as an opportunity to broaden its capability and services portfolio, widen its geographical reach and to respond to market demands”.
However, neither Keltbray or the administrator would be drawn on whether the latest acquisition had safeguarded any jobs. A group spokesman said it was not giving any other details of the deal at this stage.
The English firm recently expanded its service offering into rail work and piling. This latest deal launches it into the mainstream reinforced concrete structures market.
Dunne had built up a strong reputation delivering major office basement and core work in London as well as concrete frames on high-rise housing blocks. Founded in 2001, it also operated from sites including Glasgow. Most of the company’s existing contract work has taken on by other contractors such as Byrne Bros and Getjar and has not been included in the deal.
Keltbray has a turnover of £270m and currently employs more than 1,000 people.