Caddick Construction Limited has acquired the assets and intellectual property rights to Speedpanel from façade specialists Speedclad, which went into administration in August.
Ten design and senior leadership jobs have been saved as part of the deal which saw the assets secured for an undisclosed sum from appointed administrators Interpath.
The acquisition includes the manufacturing facility and equipment at Northallerton which will continue to produce Speedpanel. The ex-Speedclad employees will initially be based at Caddick Construction’s Knottingley headquarters.
Façades on the Caddick projects upon which Speedclad were engaged will not be affected. Operating as CCL Facades the new business team will develop their existing strong relationships with clients and supply chain partners and continue to provide an independent trading service.
Paul Dodsworth, Caddick Construction Group Managing Director, said: “The acquisition of Speedpanel and key staff members means that our current projects and clients will not be affected by the administration. Façades put huge pressure on a project’s budget, particularly now when the industry is adversely affected by rising inflation as well as supply chain and labour issues.
“It demonstrates that Caddick Construction is able to act quickly to overcome obstacles and protect clients from the effect of failures.”
Caddick Group chairman, Paul Caddick, added: “We welcome our new colleagues to the Group who bring with them exceptional skills and expertise in this niche market. They now have strong financial backing and will continue to work independently across the construction market.”
