Wed, 24 Jan 2024 | BUSINESS SALE
Evoframes, a Livingston-based supplier of window-related products, has been acquired out of administration. The company fell into administration earlier this month, but it has now been acquired by Welsh-based UK uPVC window manufacturer Rooms & Views.
Evoframes fell into administration on January 17, with Ken Pattullo and Jamie Taylor of Begbies Traynor appointed as joint administrators. Following their appointment, the joint administrators undertook an accelerated sales process, ultimately securing a pre-pack sale to Rooms & Views in a deal that saves 76 jobs at Evoframes’ Livingston factory.
The company, which was founded in 2020, supplies a wide range of bespoke uPVC windows and doors to clients including window-fitters, builders, joiners and trade counters. The firm has its own dedicated fleet of trucks, in order to deliver directly to customers from its factory.
Recently, however, the company had been hit by a range of challenging trading conditions, including higher interest rates, rising costs for raw materials and reduced customer demand, which forced it to enter administration.
Ken Pattullo, joint administrator and Managing Partner at Begbies Traynor in Scotland, commented: “Unfortunately, like many businesses, Evoframes was severely impacted by higher interest rates as well as increasing costs over the last year.”
“We are pleased to have completed a sale, which sees the business continuing in the hands of new, but experienced owners, and providing a more secure future for the 76-strong workforce.”
Distressed acquisitions can be an invaluable way of achieving growth during an economic downturn, but at times like these it is even more vital to ensure rigorous due diligence
A tremendous opportunity to acquire a market leading, internationally recognised automotive parts manufacturer with significant growth potential.
Operating from a factory in the heart of England, this company manufactures traditional box sash windows which are simply the best on the market. The company offers measurable expansion potential.
Opportunity to acquire the business and assets of a metal decorating business, established in 1979, the company is one of the largest in Europe.
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.