Administrators for the collapsed Caledonian Modular, said to be the UK’s biggest offsite construction company, have announced the sale of the business to the JRL Group.
The sale secures the future of the manufacturer including over 200 of the jobs at its Newark base.
Administrators Alvarez & Marsal has kept the business going after its collapse last month https://www.the-glazine.com/?p=5522 while exploring options for the company.
Caledonian Modular, based in Edinburgh with its manufacturing facility in Newark designs and constructs permanent modular buildings for the residential, education defence, hospitality and healthcare markets.
In the year ending March 2020, it reported a £2.8million pre-tax loss on £45.3million in turnover.
Alvarez & Marsal MD Mike Denny, announcing the sale, said “The twin challenges of the pandemic and rising inflation have placed strain on balance sheets for businesses across the UK, including those in the construction sector.
“We are delighted to have secured a sale of the business to JRL Group, rescuing the UK’s largest modular construction specialist.
JRL Group has a number of businesses in the construction sector, with £569million turnover in 2020 with £26m pre-tax profit.
