Demolition specialist Keltbray has struck a deal to buy the assets of collapsed concrete frame contractor Dunne Group.
The purchase deal includes the former yard and head office for the group at Bathgate in Scotland, as well as plant used for reinforced concrete structures.
Confirming the deal with administrator FRP Advisory, a Keltbray spokeswoman said: “Keltbray sees this as an opportunity to broaden its capability and services portfolio, widen its geographical reach and to respond to market demands.”
The contractor would not comment on the details of the deal finally signed off last night after weeks of speculation, but it is understood many of Dunne’s former 524 staff have secured jobs.
Keltbray recently expanded its service offering into rail work and piling. This latest deal launches the firm into the mainstream reinforced concrete structures market.
Dunne had built up a strong reputation delivering major office basement and core work in the capital as well as concrete frames on high-rise housing blocks.
Most of Dunne’s existing contract work has been novated to 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.