Thu, 07 Feb 2013 | ADMINISTRATION
Administrators have agreed a deal to save the business of car part manufacturer Klarius’s operations in Staffordshire, along with 234 jobs.
Klarius Group and its subsidiary Quinton Hazell Automotive were placed into administration yesterday (6 February 2013), with the appointment of KPMG.
The administrators are selling the Klarius emissions operations, based at Cheadle in Staffordshire, to Klarius Products Ltd, a newly formed company set up by management. While the intellectual property rights of Quinton Hazell Automotive are being sold to Tetrosyl I-Tec, which is part of Tetrosyl.
The deal has preserved 234 jobs at Klarius, which is headquartered at Manchester Airport. It is said to be Europe’s largest manufacturer of after-market car parts, and makes 90,000 parts from five sites, three of which are in the UK, one in Spain and one in Germany.
“We are pleased to announce the sale of the Cheadle site – saving 234 jobs. Despite marketing the remaining divisions for sale, we were unable to find a buyer and have taken the difficult decision to wind them down,” said joint administrator Paul Flint.
“Prolonged challenging trading conditions in the automotive parts sector impacted Quinton Hazell’s performance. This created cashflow pressures and affected Quinton Hazell’s ability to trade as a going concern,” he continued.
This is a chance to acquire a longstanding and reputable manufacturer of modern concrete garages, with roots dating back to the 1940s.
This well-established haulage company in West Yorkshire offers a strategic location with easy access to major motorway links and a strong, loyal client base developed over 20 years.
This is a rare opportunity to acquire this thriving motor vehicle repair, MOT, and service centre. This professionally run business currently provides the majority of its services to private customers with a small amount of commercial work, which pro...
04
|
Apr
|
WPP buys data collaboration platform InfoSum | BUSINESS SALE
WPP has bought data collaboration platform InfoSum to boost ...
03
|
Apr
|
Cambrian Training Group chooses employee ownership | BUSINESS SALE
Cambrian Training Group is celebrating its 30th birthday by ...
03
|
Apr
|
Mobeus sells investment in Star Brands after boosting EBITDA by 15X | BUSINESS SALE
Equity investor Mobeus has sold its investment in Star Brand...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.