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
This is a unique opportunity to acquire a bespoke soft furnishings manufacturer with a strong reputation and established relationships with top interior designers, developers, and architects.
Opportunity to acquire a well-established bespoke kitchen manufacturer and retailer with over 30 years of experience in delivering high-quality custom kitchens.
Opportunity to acquire a company renowned for its bespoke wood machining, providing distinctive timber components for various industries including construction and furniture.
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.