Fri, 07 Jun 2019 | ADMINISTRATION
A specialist metals technology firm based in the Advanced Manufacturing Park in South Yorkshire has collapsed into administration, citing severe financial difficulties as the reason for its downfall.
Metalysis Limited was forced to call in professional advisory firm Grant Thornton UK LLP to handle the administration process, with advisory partners Eddie Williams and Chris Petts appointed as joint administrators.
Williams commented: “Metalysis is a truly innovative UK business with a unique disruptive technology that urgently requires new ownership and further ongoing investment. Despite the directors’ best efforts and significant global interest, the business could not continue to operate without the protection of administration.
“Our immediate priority and urgent focus is to work alongside a credible interested party to secure immediate investment as part of a sale process and we would encourage any parties with interest to contact the administrators. With that support, I would hope that the business can continue to operate and thrive.”
Established in 2001, Metalysis pioneers an electrochemical process to produce powdered metal to assist with the creation of electric vehicle batteries, 3D printing and for use in aerospace technology.
The company also champions the production of rare metals and alloys in a cheaper, faster and greener manner.
In total, Metalysis has received £92 million from investors - £12 million just last year – which include Woodford Investment Management and Draper Esprit PLC. Its most recent accounts on Companies House show revenue was £886,000 and a loss of £7.1 million.
Despite expanding on an industrial scale to commissioning the development of its fourth-generation plant (Gen4) in Manvers, the company experienced financial difficulties due to an extended investment round, forcing it to call in administrators.
Expressions of interest from potential buyers are invited immediately.
For more news stories about administrations click here. For all our administrations listings, click here.
Offers a comprehensive range of robots, products and services to clients operating within the manufacturing industry throughout the UK and internationally. Products and services include six-axis, collaborative and preowned robots; robot systems, incl...
FREEHOLD
Specialising in telecoms and fibre optic networks, the company undertakes a variety of installation and maintenance works for clients throughout South West England.
LEASEHOLD
A leading digital learning management/experience platform provider. The platform enables an organisation to instil a learning culture and provide a place where employees can go to create their own learning solutions, using e-learning, events and soci...
RELOCATABLE
|
03
|
|
Mar
|
Spring Budget 2021: The M&A Outlook | BUSINESS NEWS
Chancellor Rishi Sunak has today delivered his long-awaited ...
|
03
|
|
Mar
|
Fazenda restaurant group acquired from administrators in pre-pack deal | BUSINESS SALE
The Yorkshire-based Fazenda restaurant chain has been acquir...
|
02
|
|
Mar
|
Recruitment consultancy On-Site Group acquires financial services firm | BUSINESS SALE
Specialist recruitment consultancy On-Site Group has complet...
Sign up to receive our acquisition alert emails to get your FREE guide
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