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UK modular builder Caledonian Modular finds buyer
The sale of Caledonian Modular has assured the future of the UK’s largest modular builder, and in the process, appears to have saved 200 jobs.
The collapse of the modular builder was announced last month, however swift manoeuvring by administrators, Mike Denny and Mark Firmin from professional services firm Alvarez & Marsal, announced last week the firm was sold to the JRL Group.
JRL Group is a UK-based integrated construction solutions business, and its latest accounts show turnover of £569m in 2020 and £26m profit before tax. The company has numerous sites across the UK, and there are 14 divisions with the group, and according to company sources, “delivering bespoke solutions for the most complex projects.”
The company’s divisions encompass demolition, groundworks, residential contracting, commercial builds, plant hire/logistics, crane hire, environmental management, facades MEP services and design.
The acquisition of the modular builder will complement its business portfolio, and position itself to harness opportunities as the UK moves towards 2050 net-zero carbon future.
Caledonian Modular are an accredited Planet Mark partner, an organisation where its member commit to measure and reduce their carbon footprint each year.
Mike Denny, Managing Director, Alvarez & Marsal, 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. We wish the business and its new owners every success for the future.”
Caledonian Modular made a pre-tax loss of £2.8m in the year to March 2020 on £45m turnover.
See: www.jrlgroup.co.uk
See: www.caledonianmodular.com
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