100 year-old manufacturer acquired out of administration
Sheffield precision engineering business Evenort has acquired 100 year-old Midlands manufacturer Alexander Comley out of administration.
Administrators Rajnesh Mittal and Steven Martin Stokes from FRP Advisory were appointed to Alexander Comley Limited, based in Kingswinford, on July 5.
The manufacturer of tubesheets, large flanged products and machine components was founded in 1920 and now exports globally.
The Sheffield company said the acquisition would enable it to better serve its customer base across the UK and internationally but forming a singly group.
In 2014, Evenort made £6.2m in sales and just over £304,000 in pre-tax profits, but following that year it reverted to small companies exempt accounts.
Glen McKay, managing director of Evenort, said: “We maintain a long term vision and strive to meet all challenges with the courage and creativity needed to realise that vision”
Evenort CEO Craig McKay was Master Cutler in 2015-2016, an historic year-long position representing industry in Sheffield. Craig McKay added: “Continuing the values on which Evenort is run, the opportunity to acquire such a historic name from the British steel industry is one we feel will be of benefit to both existing and future customers.
“Alexander Comley and Evenort will, over the coming months, form a group which will continue to evolve the “can do – will do” approach our customers have come to expect. Very exciting times lie ahead for us all.”
