Wed, 12 Jul 2023 | BUSINESS SALE
Lindhurst Engineering Company, a manufacturing firm based in Sutton-in-Ashfield, has been acquired out of administration. The company has been acquired by turnkey engineering and maintenance firm ECS Engineering Services Ltd.
Lindhurst was founded in 1985, initially providing fabrication services for the Nottinghamshire coal mining industry, before expanding into a range of other industries, including transport, construction, utilities and food and drink. The company manufactures an array of bespoke machines and structural fabricated products.
However, despite having a strong order book, the company had reportedly suffered as a result of inflationary and cashflow pressures. This led to it filing a notice of intention (NOI) to appoint administrators last month, before appointing Ben Jones and Raj Mittal of FRP Advisory as joint administrators on July 10 2023.
Following their appointment, the joint administrators concluded a sale of the business and certain of its assets to ECS Engineering Services in a deal that secures 31 jobs.
In Lindhurst Engineering’s most recent accounts, covering the year ending August 31 2022, its fixed assets were valued at £37,186 and current assets at £1.7 million. However, the business owed over £1.5 million to creditors at the time, with net assets amounting to around £92,000.
Read about the importance of due diligence.
Find out more about M&A in the manufacturing sector.
Established food manufacturing business with doubled production capacity and a strong second tier management team, servicing 12 active clients with a growing forward order book.
This well-regarded and relocatable Manufacturing business has now come to the open market. Since its establishment in 2017, the business has acquired a great reputation amongst its customers, known for its quality service and friendly staff. Both its...
The business designs and builds specific to customer requirements for end users predominantly in oil & gas, petrochemical, chemical and pharmaceutical industries. They also provides assistance in areas such as on-site commissioning, systems complianc...
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.