Fri, 11 Dec 2015 | BUSINESS SALE
Administrators have confirmed that they have sold 10 businesses from under the Caparo Industries umbrella.
PwC were called in to handle the administration of Caparo back in October. The firm is thought to have failed after struggling under the pressure of cheap Chinese imports and high energy costs.
Now the Gupta family have stepped up to buy the remaining parts of the Caparo group out of administration, saving more than 1,000 jobs at the company.
Matthew Hammond, Midlands region chairman for PwC and the lead administrator for Caparo, commented: “It is great news for the Midlands and the key manufacturing sites, particularly with so many skilled staff in these industries being given security at this time of year.”
The deal will mean that 623 jobs can be preserved across nine of the business' locations, although the majority of these positions are located in the West Midlands.
Sanjeev Gupta, managing director with Liberty House Group, spoke to Wales Online about the acquisition, which he described as a chance to acquire “the cream of British engineering expertise”.
He added: “These businesses contain some world-leading knowledge and skill that has the potential to contribute to a significant engineering revival in the UK.”
View more businesses for sale
Debt free. High profile events. Reactive marketing. Unique equipment/plant. Relocatable. Unrivalled sector experience. Term contracts. Offers invited.
RELOCATABLE
IP Included. Repeat business. Excellent reputation. Accredited/Certified. Asset and goodwill sale. Market leading in growing niche. Offers Invited.
RELOCATABLE
Specialises in flexible and reliable bulk haulage solutions of aggregates, cement and other building materials. Offers invited.
FREEHOLD
|
25
|
|
Mar
|
West Midlands transport company enters administration | ADMINISTRATION
The company behind the Ring and Ride services throughout the...
|
22
|
|
Mar
|
Scunthorpe nightclub up for sale | BUSINESS SALE
A former nightclub based in Scunthorpe has been put up for s...
|
21
|
|
Mar
|
Kent Logistics provider completes a successful acquisition | BUSINESS SALE
A Kent-based personalised logistics provider, backed by Livi...
Sign up to receive our acquisition alert emails to get your FREE guide
|
21
|
|
Sep
|
Cycle retailer seeks buyer | BUSINESS SALE
Evans Cycles have entered the market and are on the hunt for...
|
15
|
|
Jun
|
Cumbria hotel on sale for an undisclosed price | COMMERCIAL PROPERTY
A Georgian hotel from the 19th century has been put on the m...
|
11
|
|
Jun
|
Upholstery chain falls into administration | ADMINISTRATION
Fabb Sofas, the furniture retailer founded in 2016 by billio...
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