Tue, 22 Jul 2025 | BUSINESS SALE
A Chesterfield-based precision engineering company has been acquired out of administration by two entities backed by Baaj Capital in a pre-pack deal that secures close to 100 jobs.
CBE Plus Limited fell into administration on July 21 2025, with joint administrators Tim Bateson and Howard Smith from Interpath Advisory immediately securing a pre-pack sale of the business and its assets.
CBE Plus specialises in nickel plating, CNC machining, surface treatment and assembly services, which it provides across sectors including automotive, defence, energy and aerospace.
Over recent years, the company’s profitability has been impacted by adverse market conditions. These mounting challenges led directors to explore options for refinancing, investment or a sale.
However, after realising that a solvent solution was not available, they took the decision to appoint administrators. The company filed a notice to appoint administrators in early July, before the appointment of Bateson and Smith was formalised earlier this week.
Upon their appointment, the administrators sold the firm to two companies funded by Baaj Capital, with all 87 staff transferring to the buyer. West Yorkshire-based Baaj Capital specialises in acquiring and restructuring businesses that have entered distressed situations.
Joint administrator Tim Bateson commented: Bateson said: “These have been testing times for many businesses across the manufacturing sector as a result of high cost inflation and fragile business confidence. We are pleased to have secured this transaction which safeguards the future of CBE Plus Limited and which, importantly, safeguards the jobs of all employees.”
In accounts for the year to September 30 2024, CBE Plus Limited’s fixed assets were valued at slightly over £3.8 million and current assets at close to £6.1 million. However, significant liabilities meant that net assets amounted to just under £843,000.
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