Caparo Wire bought out of administration

Tue, 24 Nov 2015 | ADMINISTRATION

Wrexham business Caparo Wire has been sold out of administration to Rcapital, PwC has announced.

Caparo Wire specialises in the manufacture of high quality galvanised and engineering steel wire. It began in 1971 under the name Wrexham Wire and the administrators at PwC revealed that it would now revert to its original trading name.

The business is part of the Caparo Industries Group, which went into administration in mid-October, resulting in redundancies for 452 of its 1,700-strong workforce across its 16 companies. However, 76 jobs were saved last week when Caparo Testing Technologies was sold, and the sale of the steel wire part of the business will reportedly save a further 79 positions.

Turnaround investor Rcapital has bought Caparo Wire for an undisclosed sum.

Jamie Constable, CEO of Rcapital, which rescued Little Chef in 2007, said: "Despite having been in administration, the business itself is not distressed and was a victim of wider problems in the Caparo group as a result of the issues in the steel sector.

"We are backing a management team that has been pivotal in stabilising the business in recent weeks and are confident that with ongoing stakeholder support we will create a profitable and sustainable business for the future."


Caparo Industries Group in administration


Share this article



Latest Businesses for Sale

Contemporary Bar & Bistro
Lancashire, UK Wide

The business for sale is a highly contemporary bar and bistro serving an array of high quality, locally sourced and freshly prepared food and drinks with a great environment. Great reputation in the area for food and live music. Has built up a reliab...

Asking Price: £99,950
Turnover: £450,000

LEASEHOLD


Commercial Cleaning Company
Berkshire, UK Wide

Leading cleaning company in area. High-quality contracts and clientele. All equipment included in the sale. Well-established. Company has an excellent retention rate with a valuable team of staff. Huge scope for growth. The business is now for sale o...

Asking Price: £180,000
Turnover: £436,428

LEASEHOLD


Online Strapping Retailer
Devon, UK Wide

This is an excellent opportunity for an interested and committed buyer to take on a highly reputable e-commerce business which specialises in strapping and other fastening equipment. Excellent online reputation. Wide range of stock. Loyal commercial...

Asking Price: £350,000
Turnover: £1,129,718

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
29
 
May
 

Monsoon Accessorize close to administration | ADMINISTRATION

Fashion retailer Monsoon Accessorize is close to entering ad...

 
28
 
May
 

M&G completes purchase of Ascentric platform from Royal London | BUSINESS SALE

Asset manager M&G has completed the purchase of wealth manag...

 
27
 
May
 

Food-to-go supplier calls in administrators | ADMINISTRATION

Adelie Foods, one of Britain’s biggest suppliers of sa...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
18
 
Mar
 

Laura Ashley enters administration as virus hits funding hopes | ADMINISTRATION

Home furnishings and fashion retailer Laura Ashley has filed...

 
13
 
Aug
 

Forensic science equipment supplier completes MBO | MBO/MBI

A private equity firm has backed the management buyout of a ...

 
21
 
Sep
 

Cycle retailer seeks buyer | BUSINESS SALE

Evans Cycles have entered the market and are on the hunt for...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources