Demolition contractor Keltbray has inked a deal to acquire assets from collapsed concrete frame contractor Dunne Group.
The deal includes the purchase of the former yard and head office for the group at Bathgate in Scotland, as well as plant used for the construction of reinforced concrete structures.
In a statement Keltbray said: “Keltbray sees this as an opportunity to broaden its capability and services portfolio, widen its geographical reach and to respond to market demands.”
Most of Dunne’s existing contract work has been novated and has not been included in the deal.
The Dunne group, which was founded in 2001, went into administration in July with the loss of over 500 jobs. The group is understood to have bid aggressively for big, long-term contracts following the financial crisis, and since then had struggled to keep costs sufficiently low to remain profitable.
It was contracted, or subcontracted to a number of high-profile projects, including 100 Bishopsgate and One Blackfriars in London and Maggie’s Centre near Falkirk.
