Wed, 27 Jul 2016 | ADMINISTRATION
Labelling machine maker Harland Machine Systems Limited has been purchased out of administration.
Accraply Europe Limited, part of the international Barry Wehmiller Group, has bought the trade and assets of the company from its administrators at FRP Advisory LLP.
Russell Cash and Rajnesh Mittal were brought in as the joint administrators to Harland, and have secured the future of the business and its 70 employees, as well as continuity of trading, in the sale.
Based in Salford, Manchester, Harland manufactures bespoke labelling equipment for use in high volume production lines. Multinational household names, spanning the food and drink, pharmaceutical and hygiene sectors feature in its list of customers.
The company entered administration after battling recent financial difficulties, which created unsustainable pressure on its cash flow despite achieving a recent turnover figure of £12 million, to satisfy stakeholders and ensure a viable future.
Seamus Lafferty, the president of Accraply, said: “We are delighted that we have acquired such a great brand with an impressive history and are confident we can support its future development. This acquisition supports our long term strategy of developing and expanding our presence in Europe."
Although the purchase price was not disclosed, according to a source the amount paid was "at a substantial discount to market value".
Accraply Europe is based in Essex, and serves some similar markets to Harland; food, health and beauty, household and consumer goods. The company has enjoyed growth via strategic acquisitions of some well-known brands in the industry, including Stanford and Graham.
Search our list of businesses in administration
The Company provides the airport industry with a wide range of capacity and demand consultancy services. The company can analyse, model, forecast and optimise the flow of people, baggage and vehicles throughout the airport environment, from airside t...
Highly profitable Family Run Business, that has been in the same hands for over 20 years. Operating out of Leasehold premises the business is easily relocatable, many of the subcontractor workforce has been working with the company for many years. Of...
LEASEHOLD
This is a very exciting high end opportunity with many different income streams from phone, computer, tablet sales and repairs. The business has been trading for 8 years and enjoys a substantial turnover which is derived from shop sales selling phone...
LEASEHOLD
|
15
|
|
Nov
|
Carpetright agrees to shareholder takeover deal | BUSINESS SALE
Carpetright has agreed a deal to be taken over by its larges...
|
14
|
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
Sign up to receive our acquisition alert emails to get your FREE guide
|
22
|
|
Aug
|
Welsh technology firm plunges into administration | ADMINISTRATION
Thought to be one of the country’s leading ICT supplie...
|
17
|
|
Jul
|
Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION
A caravan manufacturing business in Preston is on the lookou...
|
10
|
|
Jun
|
Historic Hull electrical engineering firm enters administration | ADMINISTRATION
An electrical engineering company, founded by William Shuttl...
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