A rescue deal has saved the collapsed modular homes group behind Scotland’s Social Bite village for the homeless.
Joint administrators Blair Nimmo and Geoff Jacobs of KPMG confirmed a buyer had been found for CLDB, the eight year old timber buildings group which traded as Carbon Dynamics.
The Invergordon-based business – which saw its profile raised last year after being awarded the contract to design and construct modular homes for the Social Bite village in Edinburgh – collapsed into administration on December 6, leaving 42 staff facing an uncertain future.
However, the business has now been snapped up by Pat Munro Group, a quarry to haulage and construction concern based in Alness, Rosshire, through a new subsidiary.
Blair Nimmo, joint administrator and head of restructuring at KPMG in Scotland, said: “It is extremely pleasing to secure the sale of Carbon Dynamic in such a short timeframe, and to buyers who can see the potential in the business and its skilled workforce.
“The sale has achieved a good outcome for many stakeholders and we hope it will benefit the local area.
“We would like to thank the retained employees, customers, and all parties with an interest in Carbon Dynamic, including various government agencies, for their patience and support during this period.
“We would also like to wish Pat Munro and Carbon Dynamic (Scotland) Limited every success for the future.
“As new owners they have an ambitious vision to build on Carbon Dynamic’s reputation for cutting edge design and manufacture of eco-friendly modular buildings, re-employing a number of Carbon Dynamic’s former staff and contributing to the diversity of the economy in the Scottish Highlands.”
Brian Munro, managing director of the Pat Munro Group, said he was delighted to bring Carbon Dynamic on board.
“Pat Munro management and staff have long been aware of the innovative and high-quality products that CLDB offered to the modular building sector,” he said.
“We collaborated in previous successful projects and were very saddened to learn of the financial situation which threatened the future of 42 important local jobs.
“As such, we are delighted to add Carbon Dynamic (Scotland) Ltd to the Pat Munro Group and we are committed to continuing, and enhancing, their superb progress to date.”