The administrators of Caledonian Modular, Mike Denny and Mark Firmin from professional services firm Alvarez & Marsal, have sold the company to the JRL Group, an integrated construction business with sites across the UK, following an independent sale process.
The sale has secured the future of Caledonian Modular, which is the UK’s largest modular construction company, and saved over 200 jobs at its Newark site.
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.”
