Manufacturing jobs have been saved in Yorkshire following the completion of a corporate deal involving one of the region’s largest construction companies.

Caddick Construction Limited has acquired the assets and intellectual property rights to Speedpanel from façade specialists Speedclad, which went into administration in August.

Ten design and senior leadership jobs have been saved as part of the deal which saw the assets secured for an undisclosed sum from the appointed administrators Interpath.

The acquisition includes the manufacturing facility and equipment at Northallerton in North Yorkshire, which will continue to produce Speedpanel, which is a spandrel panel.

The ex-Speedclad employees will initially be based at Caddick Construction’s Knottingley headquarters in West Yorkshire.

A spokesman said: “Façades on the Caddick projects upon which Speedclad were engaged will not be affected. Operating as CCL Facades, the new business team will develop its existing strong relationships with clients and supply chain partners and continue to provide an independent trading service.”

Paul Dodsworth, Caddick Construction Group’s managing director, said: “The acquisition of Speedpanel and key staff members means that our current projects and clients will not be affected by the administration.

He added: “ Façades put huge pressure on a project’s budget, particularly now when the industry is adversely affected by rising inflation as well as supply chain and labour issues.

Combining strengths – members of the Caddick team with MD Paul Dodsworth (third from left) welcome their new colleagues.

“It demonstrates that Caddick Construction is able to act quickly to overcome obstacles and protect clients from the effect of failures.”

Caddick Group Chairman, Paul Caddick, added: “We welcome our new colleagues to the group who bring with them exceptional skills and expertise in this niche market.

"They now have strong financial backing and will continue to work independently across the construction market.”

Caddick Construction, Caddick Construction (NW) Ltd and Caddick Civil Engineering are the building and construction arms of Caddick Group Ltd.

The group has more than 40 years' experience across a range of market sectors including commercial, education, industrial, leisure, refurbishment, residential, care, retail, mixed-use and fit out.

The group employs more than 500 people and posted a turnover approaching £400m in the most recent financial year.

It has been involved in a number of high profile projects around Yorkshire which have helped to bring jobs and investment to the region.

Caddick Construction’s high-profile projects include the Bradford City Park, a five storey office scheme in the heart of Bradford city centre and 331 apartments in two buildings at SOYO Leeds.

Its residential team is working with York City Council on two “Passivhaus” sustainable developments for the city, as well as delivering 37 apartments on the former Pontefract Fire Station site on behalf of Wakefield District Housing.

In Leeds, Caddick Construction has been working on a 112-house development at Stonebridge Beck, Farnley, on behalf of joint developers Rushbond and Advent Developments.

Jobs saved as Caddick Construction acquires Speedclad assets and IP rights