Thu, 21 Nov 2019 | ADMINISTRATION
A buyer is being sought for Pro-Fix Installations after the company was placed into administration.
Linda Farish and Chris Ferguson, Joint Heads of Recovery and Insolvency at RMT Accountants and Business Advisors, have been appointed as administrators for the Team Valley-based contracting business.
Pro-Fix Installations is an accredited company and specialises in the installations of windows and doors for new build homes. It offers a wide range of products and installation services and serves areas across the North East of England, including Tyne & Wear, Northumberland, Durham and Teesside.
The company has several large housing developers among its clients and, for the time being, is continuing to trade as a going concern in administration. It has secured an order book of around £6 million for 2020.
RMT’s Linda Farish said: "Pro-Fix has a long and successful track record, and despite its current financial difficulties, has every chance of trading successfully once again in the future under new ownership.”
"We’ve already had initial contact with a number of potential interested parties and we are working to resolve the situation as quickly as we can."
"We’ve also been speaking to Pro-Fix’s customers about fulfilling future orders whilst the business is marketed for sale."
The company currently employs around 30 people and saw a turnover of £5.7 million in its last financial year. Its major clients include Bellway, Barratt Homes and Storey Homes.
Fabrication, supply and installation of UPVC and aluminium doors and windows, principally for commercial customers. Long-standing and highly regarded supplier to large building contractors and key public sector markets, including education, the NHS,...
FREEHOLD
Very well established Ltd Co with impressive reputation & client base offering wide range of premium quality trade services from well fitted and equipped serviced office premises in historic city centre. Offers invited.
LEASEHOLD
Experts in the survey, supply and installation of steel, aluminium and PVCu products. Valuable repeat revenues from repair, maintenance and replacement services (c. 60% of business). This is a retirement sale. Offers invited.
|
04
|
|
Jun
|
Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS
The Restaurant Group, which owns chains including Frankie & ...
|
03
|
|
Jun
|
28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE
28 Oddbins stores will remain open after the off-licence ret...
|
02
|
|
Jun
|
Topps Tiles agrees sale and leaseback of HQ and warehouses | COMMERCIAL PROPERTY
Tile retailer Topps Tiles has agreed the £18.1 million...
Sign up to receive our acquisition alert emails to get your FREE guide
|
21
|
|
Jan
|
MBO at Newcastle market research company | MBO/MBI
Newcastle-based market research company Explain Market Resea...
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