Sell sideSector: Tier 1 supplier: Automotive, aerospace & Formula 1 BUSINESS DESCRIPTIONUK based £18 million turnover specialist of aluminium hot formed products, complex tooling and composite parts and solutions into the luxury automotive, aerospace & Formula 1 sectors. DATE:August 2024 SITUATIONThe Company had been experiencing significant cash flow pressures as a result of the challenging economic environment. The Company was pursuing a refinancing solution when it was issued with a winding up petition from HMRC. On 1 August 2024, individuals from A&M were appointed as Joint Administrators.
A&M ROLE AND OUTCOMEA&M’s role was to maximize recoveries from the Company’s assets. An immediate and extensive sales process was conducted and marketed to a number independent financial investors and trade parties. Following interest from several interested parties, a funded MBO structure was identified as the preferred outcome for creditors as a whole. The two-week process concluded with a sale of the business and certain assets, including the TUPE transfer of all 112 employees.
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