Fri, 05 Apr 2013 | ADMINISTRATION
Manufacturing businesses RGS Davis Ltd and Davis Pneumatic Systems Ltd could be destined for administration after parts of its parent group Parmeko Group entered insolvency proceedings.
Insider Media has reported that Patrick Lannagan, Dermot Power and Jo Wright of BDO were drafted in to act as the joint administrators for Parmeko Holdings Ltd, Parmeko Group Ltd and Parmeko Ltd two days ago, on 3 April 2013.
Two of the group’s companies RGS Davis Ltd and Davis Pneumatic Systems Ltd – both based in Accrington, Lancashire - are continuing to operate as normal uninvolved in the administration process, but have been placed under a notice of intention to appoint administrators. This situation has also been applied to two more of its businesses: Opus Metrology Ltd and RGS Plus Ltd, located in Corby, Northamptonshire, and Mansfield, Nottinghamshire, respectively.
Mr Lannagan told Insider Media, “We are proactively reviewing all the options for the future of the company, exploring a potential sale of the business and its assets. Anyone seeking further information should contact the joint administrators with any queries.”
Established in 1964 Davis Pneumatic Systems designs and makes special pneumatic and hydraulic parts including cylinders and valves.
The last accounts available for Parmeko Holdings Ltd showed sales of over £9 million for the year ending 31 December 2011, with pre-tax profits of over £250,000.
_______________________________________________________
Related articles:
Edinburgh Instruments business sold
Administrators called in to Border Precision
Having established numerous trademarks, Project Clover offers a broad array of internal and external home décor and associated products, such as outdoor furniture and heating; indoor and outdoor lighting; electrical fireplaces and heaters; storage an...
The company specialises in thermal insulation and trace heating solutions, installing and maintaining a wide array of insulation types, fire protection and weatherproof coverings. The business effectively works on many properties, including retail ou...
The group offers a comprehensive range of renewable energy solutions, including solar and electrical design, technical surveys, and installation services for various sectors. As an approved Lux Power installer, the business uses the latest technology...
|
26
|
|
Feb
|
BGF sells historic Sheffield forgings firm to US Private Equity | BUSINESS SALE
Investment group BGF has exited its investment in almost 450...
|
26
|
|
Feb
|
Fortus buys Leeds-based accountants Charles Stewart & Co | BUSINESS SALE
Financial firm Fortus has bought Leeds-based accountants and...
|
25
|
|
Feb
|
Kelso Pharma buys Alturix as it continues European push | BUSINESS SALE
Kelso Pharma has bought UK peer Alturix Holdings as it conti...
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.