Thu, 14 Dec 2017 | ADMINISTRATION
A firm that develops and designs innovative energy storage systems based just off the Silverstone Circuit has been put up for sale after entering administration this week.
Flybrid Automative Limited, a specialist in flywheel technology and other products used to capture and store wasted energy from machines, called in Adrian Allen and Nick Edwards from RSM Restructuring Advisory after its parent company, Torotrak, announced it too was appointing administrators earlier in the month.
The company, which is located in Northampton just next to the famous Silverstone racing circuit, designs mechanisms called flywheel modules which are combined with electric motors or hydraulic pumps in a range of different settings, including off-highway vehicles, power generation, commercial vehicles, automatic and rail.
The technology can allow road vehicles to consume less fuel and accelerate much faster than conventional engines and provide long-lasting, uninterrupted power supplies for commercial use.
Founded in 2007, Flybrid describes itself as a the “leading” provider of these products and currently holds 90 patents for them.
Its parent company Totorak, an automative engineering company, appointed administrators from Deloitte in this month after trading of its shares on the London Stock Exchange were suspended on 7 December. Despite attempts to secure refinancing for the company to address money troubles, efforts were not successful.
Allen and Edwards say they are prioritising a sale of Flyrbid as a going concern, and have encouraged any interested parties to get in contact as soon as possible.
Allen added: “We believe the Intellectual Property owned by this company has real potential. We are now urgently seeking a buyer to allow the core of the business to continue.”
The Company is a highly regarded building contractor, predominantly providing its services to clients in the commercial and retail sectors. The Company has experienced considerable growth since its foundation, with the strength of its workforce and s...
LEASEHOLD
Highly successful specialist agency operating for over nine years. Provides comprehensive cross-border debt recovery services for overseas banks with large UK portfolios of credit card debt. Primarily recovers debt from UK residents which was incurre...
LEASEHOLD
Provides cost-efficient, reliable general haulage services across the UK, specialising in same-day and next-day deliveries. Operating nationally, the company currently caters to 25 active clients nationwide, all of whom provide reliable, repeat busin...
LEASEHOLD
15
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
14
|
Jan
|
Acquisitive RSK Group completes trio of deals | BUSINESS SALE
Cheshire-based technical services consultancy RSK Group has ...
13
|
Jan
|
Heat transfer equipment manufacturer falls into administration | ADMINISTRATION
Coventry-based Covrad Heat Transfer has fallen into administ...
Sign up to receive our acquisition alert emails to get your FREE guide
15
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
14
|
Jan
|
Acquisitive RSK Group completes trio of deals | BUSINESS SALE
Cheshire-based technical services consultancy RSK Group has ...
13
|
Jan
|
Heat transfer equipment manufacturer falls into administration | ADMINISTRATION
Coventry-based Covrad Heat Transfer has fallen into administ...
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