Fri, 03 Feb 2012 | ADMINISTRATION
Begbies Traynor has sold the assets of Stagecraft Technical Services (STS) out of liquidation to CPS Group.
Julie Palmer and Simon Campbell of Begbies Traynor were brought in as the liquidators to STS on 21 December last year.
Based in Porton, Wiltshire, STS specialised in audio visual, lighting, sound and staging. Its £700,000 sales were achieved through retail, hired and permanent installations, mostly for theatrical and musical productions.
“We made a huge effort to find a buyer for this business as a going concern prior to appointment,” Julie Palmer said. “However we are pleased to have ensured that STS’s loyal customer base will continue to be serviced effectively by CPS, a major player in the region.”
The purchase comprises the Stagecraft brand and a large amount of assets, after the voluntary liquidation of Stagecraft Technical Services Limited.
CPS, also based in Wiltshire, provides its audio visual solutions to the entertainment, leisure and corporate industries.
CPS director Richard Colegate commented on the deal: “We look forward to working with Stagecraft customers in 2012. Combining CPS’ excellence in modern lighting, audio and video with Stagecraft’s expertise in stage production & outdoor structures provides exciting new possibilities.
“Bringing on-board Stagecraft’s expertise in stage construction and a significant stock of staging & outdoor structures means that we can provide a more comprehensive service to our existing clients too.”
CPS’ installation and service teams are ready to offer post-sales technical service and support to Stagecraft clients, it said on CPS’ website.
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