Sheffield engineering company acquired out of administration

Following its administration earlier this year, a Sheffield-based engineering company has been acquired by a new business headed up by former management.

Sheffield-based Barker Collins Engineering fell into administration on 27 September following serious financial problems as a result of the credit crunch.

The firm, which specialises in subcontract precision engineering, has since been acquired by the newly-formed Barker Collins, a company made up of former Barker Collins Engineering managers and a mix of new investors.

The acquisition, which has saved 22 jobs, was negotiated by a group of advisors based in Yorkshire and brokered by Sterling Corporate Finance's Graham Camm.

Chris Carter, managing director of Barker Collins, said, “This is a business with a great future, there is huge potential for growth within the renewable energy fields, such as wind, carbon capture and nuclear.”

Camm said, “This is a sound business with a viable future. In this type of situation, it is crucial that specialist advisers who understand the issues around insolvency and the need for swift action are involved so that a deal can be completed very quickly with the minimum disruption to the business.”

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