Group acquires £74m engineering firm out of administration
ENGINEERING group Keltbray has acquired the assets of the Dunne Group, which went into administration last month.
It was initially thought that around 524 jobs would be cut, but the new deal with administrators at FRP Advisory is set to save around 400.
Keltbray has agreed to acquire some of the Dunne Group’s assets including the head office for the group in Bathgate in scotland and a plant used for the construction of reinforced concrete structures.
The giant, which employs 1,000 and turns over £270m said it saw the acquisition as an opportunity to broaden its services and geographical reach.
It is unknown how many jobs at the Leeds site were saved.
Dunne Group suffered major losses on contracts and suffered a “lack of flexibility in funding” needed to keep up with growth.
Tom MacLennan, Iain Fraser and Geoff Rowley, partners at FRP Advisory, were appointed on 20 July.
Mr MacLennan,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 the Dunne Group, and estimate that since our appointment over 400 former staff have now found new employment.”
13 staff in Leeds, 311 in London and 200 in Scotland were affected by the administration.
16 were initially retained to deal with the administration.
