Moira business McMullen Facades which had been placed in administration has been successful sold, retaining all 270 jobs.
JRL Group has concluded negotiations to take over McMullen Facades Limited (“McMullen”). The firm was placed into administration on Monday, November 20 following the collapse of parent company Lakesmere at the start of November.
JRL Group’s primary business is in reinforced concrete frames, and it is also known for its expertise high-rise construction. J Reddington Limited is currently constructing Britain’s tallest residential building, The Landmark Pinnacle in Canary Wharf.
Peter Allen, Joint Administrator, and partner at Deloitte said: “We are delighted to have concluded the successful sale of McMullen, retaining all 270 jobs. McMullen remains a profitable business that unfortunately was affected by cash flow issues in the wider Lakesmere group. We wish it every success for the future.”
A JRL Group spokesman said: “The acquisition of McMullen gives us the capability to offer a ‘structure and envelope’ package. This will give clients a single point of contact to get a watertight building, whilst allowing savings on preliminaries, improved coordination, better programme and risk management benefits.”
McMullen provides specialist facade and building envelope construction, working across the UK. McMullen’s main office is in Moira with a factory in Portadown and its head office function in Winchester.
Lakesmere Group Limited has experienced financial challenges, arising from a number of unprofitable contracts. This resulted in Lakesmere Group Limited, its parent company Graceful Holdings Limited and its subsidiary Lakesmere Limited being placed into Administration on November 2.