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.”
Presenting a professional boat transportation company located in Hampshire, includes commercial vehicles and low loaders.
Double fronted premises in the region of 1,197 ft² real wood flooring, assorted pendant and spotlights. CCTV (10 cameras.) tables and chairs, in total, seating 80 people including semi permanent construction to the front with retractable ceiling and...
LEASEHOLD
The subjects benefit from an enviable and prominent trading position on Nithsdale Road, close to its junction with Pollokshaws Road, within the trendy Strathbungo area, which lies in Glasgow’s popular and vibrant South Side, approximately 2 miles fro...
FREEHOLD
24
|
Apr
|
Kitchen firm expands construction sector offering with new acquisition | BUSINESS SALE
Nolte Kitchens UK has completed the acquisition of contracts...
23
|
Apr
|
Furniture retail group acquires stock and IP of e-commerce firm | BUSINESS SALE
Flair Furniture, a retail group based in West Yorkshire, has...
23
|
Apr
|
UK administrations update: April 17 – 23 | ADMINISTRATION
Since our last update, the following businesses have been co...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.