Byrne Group steps-in to save O’Keefe

O’Keefe has been struggling financially and struck a Enterprise Voluntary Arrangement with its collectors last year.

Concrete body specialist and contractor Byrne Team has now recognized O’Keefe Construction (Byrne Team) Limited and O’Keefe Demolition (Byrne Team) Restricted.

The O’Keefe name will now sit along with Byrne Bros (Formwork) and Ellmers as section of the enlarged Byrne Group.

O’Keefe’s senior leadership staff all continue being and team contracts of employment and entitlements, and plant, products and yards keep on being in put guaranteeing a seamless continuation of discovered contracts.

A Byrne Team statement reported: “The buy secures higher alternatives for Byrne Group and O’Keefe as their consumer base is improved with the capability to give a 1-cease-shop to the business, from demolition to in shape out.”

O’Keefe was formed in 1970 by Patrick O’Keefe Senior who had appear to London from his indigenous Ireland as a 19-calendar year-previous to seek operate as a ganger on creating web-sites.

Hottest comprehensive team effects posted at Firms House for the calendar year to May 31 2020 clearly show a pre-tax reduction of £1.8m from a turnover of £61.1m as the business utilized 178 team.

O’Keefe ran into difficulties with the onset of Covid, with more than £40m of contract begin dates slipping.

Subsequent the CVA in September 2021, O’Keefe has been strike by massive price ranges will increase in the offer of materials mixed with a reluctance from the credit score marketplace to help the enterprise.

The demise of Caledonian Modular in March 2022, with whom O’Keefe have been functioning on two assignments, intended that even with ongoing shareholder assist, the administrators of O’Keefe needed to locate a more cash injection.


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