Blair Nimmo and Geoff Jacobs of KPMG LLP, who were appointed on 6 December 2018 as Joint Administrators of CLDB Limited, trading as Carbon Dynamic, have announced the sale of the business and assets to Carbon Dynamic (Scotland) Limited, a new company set up by Pat Munro (Alness) Limited to facilitate the purchase.
Blair Nimmo, Joint Administrator and Head of Restructuring at KPMG in Scotland, said:
“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. 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.
“We would also like to wish Pat Munro and Carbon Dynamic (Scotland) Limited every success for the future. As new owners they 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.”
Brian Munro, Managing Director of Pat Munro, said:
"Pat Munro management and staff have long been aware of the innovative and high-quality products that CLDB offered to the modular building sector.
“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. 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.”
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Pat Munro, Mark Bramley
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMGInternational"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
About Pat Munro
Pat Munro is a privately owned multi-discipline construction business based in Alness in the Highlands of Scotland. Founded in 1945, the company has gained a wealth of experience in all manner of construction contracts and has grown steadily to become a recognised force in a diverse range of construction services.
With over 170 employees, we are one of the largest private contractors currently operating in the Highlands. We own and operate our own quarries, manufacture our own roadstone and concrete, and are recognised experts in property development, road haulage and waste disposal. Other areas of expertise include civil engineering, utilities, general building and road surfacing. Across all of our operations, we are committed to ensuring a high quality of workmanship and service, and have assembled a highly professional and well trained workforce. We take our environmental responsibilities very seriously and have a long track record of support for community-based initiatives and local charities.