O’Keefe has been struggling fiscally and struck a Business Voluntary Arrangement with its lenders previous year.
Concrete frame specialist and contractor Byrne Group has now established O’Keefe Design (Byrne Group) Confined and O’Keefe Demolition (Byrne Team) Limited.
The O’Keefe identify will now sit alongside Byrne Bros (Formwork) and Ellmers as portion of the enlarged Byrne Group.
O’Keefe’s senior management staff all keep on being and employees contracts of work and entitlements, and plant, tools and yards keep on being in put making certain a seamless continuation of recognized contracts.
A Byrne Team assertion explained: “The order secures bigger options for Byrne Team and O’Keefe as their shopper foundation is enhanced with the capacity to offer you a one-quit-shop to the marketplace, from demolition to match out.”
O’Keefe was fashioned in 1970 by Patrick O’Keefe Senior who experienced occur to London from his indigenous Eire as a 19-year-aged to seek out get the job done as a ganger on building web sites.
Newest comprehensive group benefits posted at Businesses Household for the calendar year to May well 31 2020 exhibit a pre-tax decline of £1.8m from a turnover of £61.1m as the business employed 178 staff.
O’Keefe ran into difficulties with the onset of Covid, with around £40m of agreement start out dates slipping.
Subsequent the CVA in September 2021, O’Keefe has been strike by big costs improves in the supply of resources put together with a reluctance from the credit score marketplace to support the business.
The demise of Caledonian Modular in March 2022, with whom O’Keefe ended up doing the job on two tasks, meant that even with ongoing shareholder assist, the administrators of O’Keefe essential to obtain a additional hard cash injection.