Deal to buy troubled McMullen Facades saves over 250 jobs
Co Down construction company McMullen Facades has been sold days after going into administration.
The firm, which employs around 270 people at its offices in Moira and another factory in Portadown, specialises in creating facades for buildings.
It was sold to JRL Group in England for an undisclosed sum after business advisory firm Deloitte was appointed administrator on Monday.
Deloitte said the deal had resulted in all the McMullen jobs being retained.
Gareth Wilson, the DUP mayor of Armagh, Banbridge and Craigavon Council, said he welcomed the reassurances provided on the jobs front by the new owners. He added: "This type of situation is always difficult and, especially at this time of year, any uncertainty around jobs is always worrying for families.
"I am therefore glad to hear that the buyers of the firm have committed to retaining the staff, and hopefully a strong future can be mapped out for the firm under the new owners."
JRL's main business is in reinforced concrete frames, although it also has a subsidiary - J Reddington Ltd - that manufactures facades and is currently working on the The Landmark Pinnacle in Canary Wharf.
The company has been a well-known name in construction in Northern Ireland since a glass business was founded by Edward McMullen.
The firm was then taken over by his son Ted, who initiated a move into glass facades.
McMullen Facades was then acquired by Lakesmere Group in England five years ago, and Mr McMullen was appointed chief executive last year following a management buy-out.
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 co-ordination, better programme and risk management benefits."
The administration of the profitable McMullen Facades follows the announcement at the beginning of the month of the insolvency of Lakesmere Group Ltd and its parent company.
Deloitte said Lakesmere had "experienced financial challenges, arising from a number of unprofitable contracts".