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.
Turnover of £1.6m with an EBITDA of £650k. Offers a comprehensive range of services to help clients build and position their brands, engage with their customers and drive their internal objectives. Captures and interprets data to understand its clien...
LEASEHOLD
Offers an extensive range of quality electrical products, with cost-effective pricing and dedicated next-day delivery services. Endeavours to remain at the forefront of technology, continually strengthening its offering alongside the evolution of the...
LEASEHOLD
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
|
27
|
|
Nov
|
AIT Worldwide Logistics acquires UK home delivery specialist | BUSINESS SALE
AIT Worldwide Logistics has acquired home delivery company P...
|
26
|
|
Nov
|
Magazine publisher Future agrees £594m GoCompare deal | BUSINESS SALE
Magazine publisher Future has agreed a £594 million ca...
|
26
|
|
Nov
|
BSR launches the UK Company Lens | BUSINESS NEWS
For the past four months, the team here at Business Sale Rep...
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