McMullen Architectural Systems, based in Moira in Northern Ireland, called in administrators from PwC’s Business Recovery Services department yesterday. Within hours the administrators had sold the business to a subsidiary of Lakesmere, safeguarding all 129 jobs in place at the time of appointment.
McMullen specialises in the design, fabrication and installation of aluminium curtain wall and window systems for medium and large scale building projects across the UK. Last year it saw its revenues dive from £36m to less than £17m.
It was founded in 1971 as McMullen Glass by the late Edward McMullen.
Lakesmere is a leading operator in the roofing and cladding sector of the construction industry and is based in Winchester, England. Lakesmere also has operations in Warrington and Glasgow and operates throughout the Middle East from its international head office in Abu Dhabi.
Lakesmere’s £42m turnover puts it third behind Saint-Gobain and Prater in a ranking of building envelope specialists.
Joint administrator Stephen Cave said: “Falling demand, increased pressure on margins, investments in foreign markets and the general downturn in construction have collectively led to the directors’ decision to appoint administrators.
“Unfortunately the appointment will come as another setback to the already embattled construction supply chain both in Northern Ireland and further afield.
“However despite this, I am pleased to announce we have been able to sell the trade and assets of the business, which will seek to secure 129 jobs and the continuation of the McMullen business under new ownership.
Confirming that the sale to Lakesmere Limited had now been completed, PwC said some temporary disruption to business activity and work in progress might occur as projects are transferred to the new owners, but this was likely to be temporary.
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