Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Administrators secure sale of Castleoak timber frame assets

Administrators secure sale of Castleoak timber frame assets

Thu, 04 Nov 2021 | DIVISION SALE



Administrators from Interpath Advisory have secured a sale for the assets of the timber frame business of retirement and care home developer Castleoak to Robinson Manufacturing. Castleoak Holdings, along with the businesses within its group, were put into administration by directors last week.

Interpath Advisory’s Steve Absolom and Will Wright were appointed joint administrators for the timber division Castleoak Offsite Manufacturing, as well as for Castleoak Holdings. Interpath Advisory’s Sarah Collins and Steve Absolom were also appointed joint liquidators for another business in the group, Castleoak Care Partnerships.

Castleoak Offsite Manufacturing, operated as an offsite manufacturer of timber frames used in the construction of the wider group’s retirement and care home facilities. In its accounts for the year ending March 31 2019, the division, then trading as Castleoak Timber Frame Ltd, reported post-tax profits of £120,276 on £3.1 million turnover. At the time, its net assets were valued at £451,385.

Following the acquisition of the timber division, Robinson Manufacturing will seek to restart production at the Ebbw Vale site and has said it will explore opportunities to provide roles for staff made redundant during the administration process.

Robinson Manufacturing CEO Simon Kidney said: “We are delighted to have concluded this transaction, which will see production re-start in Ebbw Vale and which will hopefully provide new employment opportunities for a number of employees who had been affected by redundancy. We’d like to thank all stakeholders for their support in helping to conclude this transaction and wish the team at Robinson Manufacturing all the best for the future.”

Will Wright, joint administrator and Interpath Advisory’s Head of Restructuring, commented: “Although a number of companies across the construction sector are facing significant challenges as a result of issues including price inflation, supply chain disruption and labour shortages, there are still parts of the sector which are seeing exceptional demand and strong growth. In particular, the demand for more modern and sustainable methods of construction is driving opportunities in the growing timber frame market.”

The deal was advised on by Interpath Advisory’s Will Daniels, who said: “We are delighted to have concluded this transaction, which will see production re-start in Ebbw Vale and which will hopefully provide new employment opportunities for a number of employees who had been affected by redundancy. We’d like to thank all stakeholders for their support in helping to conclude this transaction and wish the team at Robinson Manufacturing all the best for the future.”


Read more about pressures impacting the UK construction sector

View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Provider of Shopfitting Solutions
UK Wide

Delivers specialist shop fitting services for pharmacies, offering design, supply, installation and maintenance solutions to meet client specifications and complete projects to a high standard. Works with a number of blue-chip and independent pharmac...

Asking Price: Offers Invited
Turnover: £1,100,000

LEASEHOLD


Tube Manipulation, Fabrication and Coiling Business
London, UK

The highway successful business opportunity was established over 60 years ago by our client's family who is now looking to sell the business to simply retire. The fully equipped opportunity will include the extensive range of specialist equipment,...

Asking Price: Offers Invited
Turnover: £800,000

LEASEHOLD


Building and Maintenance Contractor
UK Wide

Provides kitchen and bathroom adaptations including grab rails, non-slip flooring and low-level storage for elderly or disabled clients, alongside standard building services.

Asking Price: Offers Invited
Turnover: £1,400,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
16
 
May
 

Manx Financial Group to acquire Payment Assist in potential £9m deal | BUSINESS SALE

Manx Financial Group Plc has announced the acquisition of Pa...

 
13
 
May
 

Assets set to be sold as modular housing joint venture enters administration | ADMINISTRATION

The US House Group modular housing joint venture has fallen ...

 
12
 
May
 

Bathroom panel firm acquired for up to 9.1x EBITDA | BUSINESS SALE

Bathroom and kitchen products firm Norcros has agreed a deal...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.