A Buckfastleigh-based firm that specialises in timber-framed buildings has committed to further growth after buying a company that focuses on the design and build of modern engineered timber structures.

Carpenter Oak Build agreed to buy Xylotek after the Bristol-based firm went into administration on July 31.

‘Xylotek has a unique proposition, serving an important gap in the UK construction market,’ said Carpenter Oak Build managing director Luke Copley-Wilkins. ‘We are pleased that we will be able to preserve that skill and expertise to enhance our offer to customers,’ he added.

Xylotek had become very successful very quickly , with various projects through 2022, including the Abba Voyage arena in London. However, the rapid growth led to troubles with working capital andthis had a knock-on effect on performance. Money problems were exacerbated by the insolvency of Xylotek’s main subcontractor. This led to Xylotek calling in business advisory and insolvency specialist Resolve, which brokered the deal with Carpenter Oak Build.