Fri, 17 Jan 2020 | BUSINESS SALE
The business and assets of Yorkshire-based display products maker Travelfast Ltd have been acquired from administration.
Travelfast, which trades as Sampling International and is based in Batley, West Yorkshire, has designed and manufactured display products including sample books and shade cards since it was established in 2009.
In March last year, it became part of Bath-headquartered investment company Chelverton Equity Partners’ (CEPS) trading company CEM Press Ltd. This acquisition saw it join CEPS business portfolio along with fabric manufacturer CemTeal Ltd.
With the £1.2 million acquisition Of Travelfast Ltd, CEPS hoped to create one of the UK’s largest pattern book and shade card manufacturers, operating from two production facilities.
In December 2019, however, CEPS said it would divest its investments in CEM Press and Travelfast Ltd, saying it was unable to achieve cost savings "despite management's efforts and cash injections from since March 2019".
This month, CEPS appointed Moorfields Advisory Limited as administrator and recommended an accelerated marketing process with a view to a sale of the businesses.
Moorfields has now sold Travelfast’s business and assets to the newly formed company Sampling International Enterprises Ltd, which will continue trading as Sampling International.
The new company is connected to Travelfast founding member and former major shareholder Stephen Hubbard, who became Managing Director of CEM Press Limited when Travelfast was acquired in March last year.
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