Thu, 17 May 2018 | ADMINISTRATION
Both the business and assets belonging to a London-based contractor dealing with exterior facades has been placed up for sale after the company was forced into administration earlier this year.
Luckywheel Ltd, based in Waltham Abbey in Essex but with operations across the South East and London, is a specialist installer of commercial and domestic facades, including curtain walling, windows and cladding systems. It predominantly works with PVC-U, aluminium and composite products for businesses and homes.
A run of difficult business conditions forced the company to appoint administrators from Mazars to steer the firm to trade under their direction.
Patrick Lannagan and Adam Harris, the joint administrators assigned to Luckywheel, have since been instructed to find a new buyer for the company as a going concern.
Alongside the company itself, the administrators are also separately selling several of Luckywheel’s assets, including an outstanding order book worth £5.9m, which includes an additional £19m of work that has already been tendered for.
The company is also parting ways with its freehold manufacturing and office facilities in Nazeing, Waltham Abbey, as well as its manufacturing equipment and any work currently in progress.
As a family-run business, Luckwheel is still owned and managed by its two founding families.
Turnover and EBITDA for the company's 2018 financial year are forecast to grow by 42 per cent or £2.38m and 16 per cent or £126,000 respectively from the prior year.
The firm’s website reads: “Being a small business, we have a strong bond with all of our employees and consider our business relationship with each customer to be a matter of trust.
“Our goal has always been to strive for excellence and be worthy of continued confidence.”
The administrators have set a deadline for any offers for the firm of Friday 19 May, you can view the listing here.
Delivers commercially successful, functional and creative medium and large-scale residential developments, working closely with its clients to meet their quality, time and budgetary requirements. Utilises extensive in-house expertise to deliver dedic...
LEASEHOLD
Specialises in dedicated, flexible and personal aids and adaptations for the elderly and less able, working with clients to provide tailored and high-quality solutions. Service offering is enhanced by the provision of complete general building and ma...
LEASEHOLD
This business specialises in offering professional, bespoke joinery solutions to its customers at competitive prices. It is capable of offering products such as: box sash windows, exterior/interior doors, shop fronts, fitted kitchens, staircases and...
LEASEHOLD
|
11
|
|
Aug
|
PPL Corp. seeks sale of Western Power Distribution | BUSINESS SALE
PPL Corporation has announced that it has put its UK utility...
|
10
|
|
Aug
|
Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE
Samworth Brothers has completed the £6.4 million acqui...
|
07
|
|
Aug
|
Wrexham-based wire firm falls into administration | ADMINISTRATION
Wire manufacturer Wrexham Wire has fallen into administratio...
Sign up to receive our acquisition alert emails to get your FREE guide
|
06
|
|
May
|
Cheshire-based wholesaler goes into administration | ADMINISTRATION
Cheshire-based wholesaler Scott Brothers Limited (SBL) has g...
|
15
|
|
Apr
|
Bristol-based transport training company goes into liquidation | ADMINISTRATION
Bristol-based transport training course provider PB Transpor...
|
24
|
|
Mar
|
Halifax arts trust calls in administrators | ADMINISTRATION
The Square Chapel Trust and its subsidiary Square Trading Lt...
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