Fri, 18 Aug 2023 | BUSINESS SALE
A Worcestershire-based precision plastic and injection mouldings business has been acquired out of administration. P J S Mouldings fell into administration on August 11 2023, with administrators from Grant Thornton UK LLP subsequently concluding a sale of the business as a going concern to S M Automotive Division.
P J S Mouldings, which is based in Redditch, was founded in 1993 and provided precision plastic and injection moulding services to a range of sectors, with a particular focus on serving the automotive market.
The acquisition, overseen by joint administrators Rob Parker, Jon Roden and Helen Dale of Grant Thornton UK LLP, sees P J S Mouldings’ business and assets sold to Solihull-based S M Automotive Division as a going concern.
S M Automotive Division is a subsidiary of West Midlands mouldings group Stechford Mouldings, which has been operating in the region for more than 80 years. The acquisition of P J S Mouldings’ business and assets sees all operations transfer to the new owner and secures more than 70 jobs.
In P J S Mouldings’ most recent accounts at Companies House, for the year ending March 31 2022, the firm reported fixed assets valued at slightly over £0.5 million and current assets at £1.8 million. At the time, the firm owed creditors around £1.7 million within one year and £370,723 after more than one year, leaving its net assets at £241,838.
Commenting on the sale, joint administrator Rob Parker said: “We are very pleased to have completed a going concern sale of the business, which secures the continued employment for a loyal workforce in these challenging economic times. S M Automotive Division Limited appears to be a great fit for the business and well placed to serve its customers in the future”.
Distressed acquisitions can deliver enormous value - but it is vital to undertake a thorough due diligence process
Opportunity to acquire a well-established engineering product and equipment distributor located in the heart of the West Midlands.
This turnkey renewable energy business in Herefordshire presents a compelling opportunity with its established recurring revenue streams.
An exceptional chance to acquire a distinguished CNC machine tools supplier located in the South of England, known for its exclusive UK agency agreements and proprietary brand offerings. This opportunity is particularly well-suited to individuals or...
01
|
Jul
|
PE-backed accountancy swoops for 65-strong East Midlands firm | BUSINESS SALE
Private equity-backed accountancy Duncan & Toplis has acquir...
01
|
Jul
|
Manchester-based aerospace firm rescued with pre-pack deal | BUSINESS SALE
B&H.PT Limited, a Manchester-based aerospace manufacturer, h...
01
|
Jul
|
Seafood and pork supplier acquires food manufacturing business | BUSINESS SALE
Sofina Foods Europe, a North Yorkshire-headquartered supplie...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.