Mon, 24 Jan 2011 | ADMINISTRATION
Troubled equipment hire firm, Hember Plant Hire, has been saved in a pre-pack administration deal secured by joint administrators at Grant Thornton.
All 32 employees are to remain in their posts after administrators Les Ross and Matthew Dunham secured a sale of the business to Hember Ltd, which has several members of the original management team and is backed by new investors.
It is headquartered in Cheshire, Warrington, and has five other bases in the UK, including Southampton and Bridgend.
Les Ross commented: "We are particularly pleased to secure the sale of this business given the difficult market we are currently in."
"To achieve the sale of the business and to preserve all 32 jobs is an excellent outcome from a difficult situation."
The business had suffered in a competitive market in 2010 and had been in discussion with potential investors about its future late last year. Hember Plant Hire recorded pre-tax losses of £85,159 on revenues of £4.4 million for the year to April 30 2009 – its last filed accounts.
Established in 1974, Hember Plant Hire hires out construction and civil engineering machinery and equipment. Projects worked on include oil refineries, power stations, ship and vessel repairs, film and TV productions and events.
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
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.