Administrators sell timber building firm to new owners2 January 2019
Administrators of Scottish timber building manufacturer Carbon Dynamic (Scotland) Ltd have managed to secure a sale of the company.
Blair Nimmo, joint administrator and head of restructuring at KPMG in Scotland, said Carbon Dynamic was being sold to a new company set up by Pat Munro (Alness) Limited. Invergordon-based Carbon Dynamic had gone into administration on December 6.
Despite significant R&D investment, underfunding in other areas of the business meant the company ran into trading and cashflow difficulties as it was nearing completion of a landmark project for Dyson.
“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,” said Mr Nimmo.
“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.
“The new owners 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.”
“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,” said Brian Munro, MD of Pat Munro.
“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.”
Founded in 1945, Pat Munro is a privately owned multi-discipline contractor based in Alness in the Highlands of Scotland.