Fri, 20 Aug 2021 | ADMINISTRATION
Administrators from business advisory firm ReSolve have been appointed to B2B gas installation platform Hiber Energy and are now marketing the company and some of its assets for sale.
Hiber Energy is a Software-as-a-Service (SaaS) enabled B2B firm designed to streamline the business of gas engineers and enable them to run their entire operation through the platform, which is available as an Apple or Android app.
Via the app, engineers can connect with local business merchants, send quotes and invoices, and take payment. Hiber Energy, which also simplifies processes such as pricing and acquiring parts, has attracted strong reviews from users, with many engineers reporting that it has improved their working capital.
The company had been registering solid performance prior to the Covid-19 pandemic, with 30 per cent month-on-month installations growth. However, the onset of the pandemic negatively impacted the business, causing it to enter administration.
In its last available accounts at Companies House, the firm had around £3.4 million in total assets, with £7.2 million in net liabilities.
ReSolve Managing Partner Mark Supperstone commented: “Hiber Energy has been another unfortunate casualty of the pandemic-induced slowdown in economic activity that has affected a great many industries and sectors.
“The company had invested significantly into its platform and seen some excellent growth prior to the pandemic. We believe there is lots of potential left in the platform, which could be widely used by a range of different tradespeople.”
Read more about acquiring app-based businesses here.
View the latest distressed UK businesses here.
An opportunity has arisen to acquire an IT service and support company based in Aberdeenshire. This profitable business has grown consistently since it was established in 1989 to provide a portfolio of key IT support and services to its loyal custome...
LEASEHOLD
A unique opportunity to acquire a critical infrastructure and cyber security specialist based in the Midlands, UK. Established in 2015, this company has gained prominence in the delivery of high security and classified services to a range of public s...
LEASEHOLD
Based in the north of England, this business can be relocated anywhere in the U.K. and replicated across the globe.
RELOCATABLE
30
|
Nov
|
Loughborough electronics manufacturer undergoes MBO | MBO/MBI
Datalink Electronics, a Loughborough-based electronics manuf...
29
|
Nov
|
Logistics firm to acquire Magnus Group warehousing operation | BUSINESS SALE
Hemisphere Freight Services (HFS), a family-owned logistics ...
29
|
Nov
|
Yorkshire insurance brokerage makes first acquisition | BUSINESS SALE
Prosura, a Yorkshire-based business and lifestyle insurance ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.