Tue, 25 Jan 2011 | BUSINESS SALE
Two Pershore-based aerospace companies have been acquired out of administration by Ilkeston, Derbyshire-based Gardner Group Ltd.
Blade Tooling and Blade Technology, which manufacture and supply aerofoil tooling, wax mouldings and ceramic cores to the aerospace and industrial gas turbine sectors, fell into administration last month.
Previously, the companies counted Rolls-Royce, GKN and Airbus amongst their clients within the international aviation industry.
Accountancy firm KPMG was appointed as administrator and sought out a buyer for the two firms. Enter in Gardner Group Ltd, which supplies sub-assemblies and metallic aerospace parts across the UK. The firm acquired the two companies for £3 million, making use of funding provided by Better Capital Limited, which invested £20 million in Gardner earlier last year.
The acquisition represents the second strategic, bolt-on takeover deal carried out by Gardner in recent months. Blade Tooling and Blade Technology will now be renamed Gardner Blade, and the new firm will be refocused onto a select few areas of manufacture and production. More than 60 jobs across both companies will also be saved.
KPMG joint administrators Will Wright and Mark Orton have announced just five job losses in the Blade Tooling facility due to the fact that the aerospace firm was continuing to trade while a buyer was sought.
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