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Keltbray has brought in Gordon Dunne, former head of Dunne Group, to help manage its newly launched concrete business having completed the purchase of some of the insolvent firm鈥檚 assets.

Keltbray Structures will specialise in reinforced concrete frames and earlier this week confirmed it had acquired Dunne Group鈥檚 former yard and head office at Bathgate in Scotland and its plant used for the construction of reinforced concrete structures following the latter entering administration last month.

It is also understood to have taken on the majority of Dunne Group鈥檚 524-strong staff and already put in bids for work according to a source.

John Price, Keltbray鈥檚 managing director, will become chief executive of Keltbray Structures.

He will be supported in the day-to-day running of the company by Gordon Dunne, who becomes managing director, and chief operating officer, Andy McClafferty, formerly deputy managing director of Keltbray Demolition & Civil Engineering.

Brendan Kerr, chief executive of Keltbray, said: 鈥淧rior to going into administration Dunne Group was a leading company in its field and enjoyed a strong reputation as a reinforced concrete frame specialist contractor.

鈥淲e believe that Keltbray will benefit from tapping into their capability and this acquisition of some of their assets.

鈥淲ith our financial resources behind it, I believe there is considerable scope for increasing the service offering and profitability of our business through this development, and give us a better geographical reach to other parts of the UK, including Scotland.鈥�

Dunne Group fell into administration after requesting that its bank Santander appoint administrators on its behalf after a request to the bank for additional funding was not met. Administrators FRP Advisory were subsequently appointed on 19 July.

A document lodged at Companies House reveals a loan granted by Santander to Dunne in October 2014 gave the bank security in the form of a floating charge 鈥渙ver the whole of [Dunne Group鈥檚] undertaking and assets鈥�, giving it security if Dunne Group became insolvent.

In its last results posted at Companies House, Dunne Group showed a turnover of 拢54.8m for the year to October 2014, up almost half on the previous year鈥檚 turnover of 拢37.1m.

But the Scottish-based company only made a pre-tax profit of 拢756,073 for 2014, after a loss of 拢475,878 the previous year.

Meanwhile, Keltbray鈥檚 most recent results for the year to October 2015, saw the firm鈥檚 pre-tax profit up 49% to 拢10.9m, from 拢7.3m the previous year, while revenue jumped 25% to 拢272m, up from 拢217m.