Green infrastructure group Junglefy will live on after its competitor Vertical Gardens Australia purchased its assets from liquidator Grant Thornton.
The deal, which was effective from 8 May, includes Junglefy’s premises at Banksmeadow, Sydney, its plant inventory, client list, planting modules and “breathing stands,” which are moveable plantings leased to property owners.
Vertical Gardens hired ex-Junglefy general manager Nicholas Barr to head its newly-expanded New South Wales division.
Vertical Gardens managing director Jamie Papalia said the Melbourne-based company would concentrate on renewing service agreements with former Junglefy clients. Beyond that, the company is planning to expand across Australia, and then potentially overseas to Europe, Papalia told The Fifth Estate.
Former Junglefy chief executive Suzie Barnett confirmed that she will not be taking up a position at Vertical Gardens.
“I’m really pleased that someone has purchased the assets and is taking on the projects with clients. It is probably the best outcome we could have hoped for. We still need innovative products in the market to drive the industry forward,” she said.
Junglefy’s projects under development will remain with liquidators Grant Thornton until their completion. The proceeds from the projects will be used to repay debt.
Vertical Gardens Australia began operating in 2012, and specialises in the delivery of green infrastructure, including walls and roofs.
Junglefy’s founders Jock and Hanna Gammon appointed Grant Thornton as liquidators in mid-April after being unable to operate it as a going concern in the face of supply chain disruptions and labour shortages in the wake of COVID-19.
Junglefy is renowned for its high profile living walls and roofs at Barangaroo, One Central Park, at Bourke Street and Penrith Public Schools, and a car park in Manly Vale.