The deal includes the former yard and head office for the group at Bathgate in Scotland, as well as plant used for reinforced concrete structures.

When Dunne fell into administration last month it was expected 524 staff jobs would be cut, but the new deal with administrators at FRP Advisory will help to save around 400 jobs.

Confirming the deal with administrator FRP Advisory, a Keltbray spokeswoman said: “Keltbray sees this as an opportunity to broaden its capability and services portfolio, widen its geographical reach and to respond to market demands.”

Keltbray recently expanded its service offering into rail work and piling. This latest deal launches the firm into the mainstream reinforced concrete structures market.

Dunne had built up a strong reputation delivering major office basement and core work in the capital as well as concrete frames on high-rise housing blocks.

Most of Dunne’s existing contract work has been novated to other contractors such as Byrne Bros and Getjar and has not been included in the deal.

Keltbray has a turnover of £270m and currently employs more than 1,000 people.

An FRP Advisory, spokesman said “We are delighted to have agreed a deal with Keltbray Group, and wish the company every success with their future plans.

“We have been delighted with the response of the contracting industry to the administration of the Dunne Group, and estimate that since our appointment over 400 former staff have now found new employment.”