Tue, 12 Dec 2023 | BUSINESS SALE
WN Vtech Group, a group of automotive engineering businesses, has been acquired out of administration by an international entrepreneur. The company, formerly known as Woodall Nicholson, fell into administration last month.
Teneo’s Daniel Smith and Julian Heathcote were appointed as joint administrators on November 20 2023, before concluding a sale to Belgian industrial entrepreneur Guido Dumarey, owner of the Dumarey Group, on December 5.
The deal sees Dumarey acquire the businesses of Bolton-based Coleman Milne and VCS Police & Special Projects, Rochdale-based Mellor, Brighouse-based Treka and Promech Technologies and Scarborough-based JM Engineering out of administration.
The acquisition further bolsters Dumarey Group’s operations and subsidiaries in Belgium, France, the UK, Italy and China. At the start of next year, the group will employ approximately 3,000 staff across its international operations.
Guido Dumarey commented: "This is an exciting acquisition for us. The Woodall Nicholson businesses have a strong market position and a disruptive product portfolio, as is evident in their robust order book. We're eager to collaborate with their talented teams to continue delivering innovative mobility solutions.”
"This marks a significant step towards our commitment to shaping a future where environmentally conscious transportation is accessible to all."
Joint administrator Daniel Smith added: "We are delighted to have reached this agreement with Dumarey. The transaction has secured the transfer of over 450 jobs located across the North. We wish the business, its staff and its new owners every success in the future."
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