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.”
This business provides a full range of consultancy services to the construction and utility sectors. Civil Engineering & Environmental Consultancy in the Water Industry.
LEASEHOLD
Provides a diverse range of sanitation products, including handwashing and sanitisation stations, alongside rotational moulding services and portable toilet and welfare facility hire.
LEASEHOLD
Traditional home care agency which has been trading successfully since 2010 when it was established by our client.
LEASEHOLD
|
09
|
|
Apr
|
Topshop flagship store up for sale | COMMERCIAL PROPERTY
Topshop's flagship Oxford Street store in London is dra...
|
09
|
|
Apr
|
Gestamp’s former Washington warehouse hits the market in £6.5m auction | COMMERCIAL PROPERTY
The former Washington base of international car parts manufa...
|
08
|
|
Apr
|
Decorating contractor targets acquisitions after MBO | MBO/MBI
Scottish commercial decorating contractor Bell Group has com...
Sign up to receive our acquisition alert emails to get your FREE guide
|
09
|
|
Apr
|
Gestamp’s former Washington warehouse hits the market in £6.5m auction | COMMERCIAL PROPERTY
The former Washington base of international car parts manufa...
|
09
|
|
Apr
|
Topshop flagship store up for sale | COMMERCIAL PROPERTY
Topshop's flagship Oxford Street store in London is dra...
|
08
|
|
Apr
|
Decorating contractor targets acquisitions after MBO | MBO/MBI
Scottish commercial decorating contractor Bell Group has com...
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