JRL has bought McMullen Facades for an undisclosed sum after the specialist business was placed into administration earlier this week.
Concrete specialist JRL confirmed that it had concluded negotiations to take over the former Lakesmere subsidiary and said the acquisition would allow it to provide a unique capability of “structure and envelope”.
Administrator Deloitte confirmed that all 270 McMullen staff would be retained following the sale.
Northern Ireland-based McMullen, a specialist in high-rise buildings, has projects across the UK and will now become part of JRL, which primarily focuses on reinforced concrete frames.
JRL’s subsidiary J Reddington is working on a number of high-rise buildings including Britain’s tallest residential tower, the Landmark Pinnacle in Canary Wharf.
A JRL spokesperson said: “The acquisition of McMullen Facades gives us a unique capability to offer a ‘structure and envelope’ package.
“This will give clients a single point of contact to get a watertight building allowing savings on preliminaries, improved co-ordination, better programme and risk management benefits.”
Despite entering administration, McMullen’s administrators said earlier this week that there would be no redundancies and the firm would continue to operate so a buyer could be found.
Deloitte joint administrator Peter Allen 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.”
The news of its administration came just two weeks after its parent company Lakesmere Group collapsed with 109 confirmed redundancies.
The administrator of McMullen said that cashflow issues from the wider Lakesmere Group had led to the decision.
McMullen was bought by Lakesmere in 2012 after previously falling into administration.
McMullen’s current contracts include an £18m deal to provide specialised glazed facades for Canary Wharf Contractors on its London Southbank Place residential tower near Waterloo, and a £11m facade contract on Laing O’Rourke’s Clatterbridge Cancer Centre in Liverpool.
JRL Group currently has a turnover of £288m and encompasses 10 different divisions, including demolition, piling, groundworks and concrete frames, which are all delivered through its J Reddington subsidiary.
JRL acquires Lakesmere's McMullen Facades