Gordon Dunne, the former managing director of the Dunne Group, is back behind his desk…just weeks after his business failed.
He is heading up a new division launched by Keltbray Group which acquired Dunne’s Bathgate head office and some of its plant in the wake of the collapse. It announced today (Friday) the formation of Keltbray Structures to concentrate on reinforced concrete frame construction which was a speciality of Dunne Group.
In a statement the new owner said: “While Keltbray has not taken over Dunne Group as a going concern or taken on any of its former contracts with clients, by acquiring some of the Dunne Group assets Keltbray is strengthening its capability and services portfolio to provide demolition, groundworks, piling and concrete structures solutions as integrated or standalone services.”
Chief executive Brendan Kerr added: “Prior to going into administration Dunne Group was a leading company in its field and enjoyed a strong reputation as a reinforced concrete frame specialist contractor. We believe that Keltbray will benefit from tapping into their capability and this acquisition of some of their assets.
“With our financial resources behind it, I believe there is considerable scope for increasing the service offering and profitability of our business through this development, and give us a better geographical reach to other parts of the UK, including Scotland.”
Gordon Dunne, who is believed to have taken a 20% stake in the new business, becomes managing director of Keltbray Structures, reporting to group MD John Price. CEO is Andy McClafferty, formerly deputy MD of Keltbray’s Demolition & Civil Engineering operation.
A meeting of Dunne Group creditors of is expected to be held next month.
PREVIOUSLY: Keltbray Group, the English construction and demolition business, has acquired some of the assets of the collapsed Dunne Group from the administrators. The deal includes the Bathgate yard and head office as well as plant for building reinforced concrete structures.
A spokesman for the company, which is also involved in engineering, decommissioning, remediation, rail and environmental services, said: “Keltbray sees this as an opportunity to broaden its capability and services portfolio, widen its geographical reach and to respond to market demands.”
In its latest financial report the group announced a 25% increase in annual turnover to £272.3m accompanied by a 21% lift in gross profit to £45.4m.
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Article posted 16/8/2016, updated 19/8/2016