Alvarez & Marsal administrators save over 200 jobs at modular construction business
London – 4 April 2022 – The Administrators of Caledonian Modular (“the Company”), Mike Denny and Mark Firmin from professional services firm Alvarez & Marsal, today announce that the Company has been sold 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.”
About Alvarez & Marsal
Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.
With over 6,000 people across four continents, we deliver tangible results for corporates, boards, creditors, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.
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