Construction supplier emerges from administration
A LEEDS business is to continue after one of its directors bought the firm from the administrators.
Andrews Fasteners, which has been trading since 1981, was placed in the hands of administrator Chris Brooksbank of Cleckheaton-based O’Haras Limited and a sale was immediately completed with AFC Products, a firm controlled by Michael Carey, who had been managing director of the original company.
AFC Products has been renamed to Andrews Fasteners and the deal has secured future orders, supplier contracts and saved the jobs of the 20-strong workforce.
Andrews Fasteners supplies bolts, hardware and fabricated metal products to construction companies in the UK and around the world.
Mr Carey, director of Andrews Fasteners, said: “Following this restructuring, we believe we are in a much stronger position to take the business forward.”
Michelle Mathers of Leeds law firm Ford & Warren, who advised Mr Carey, said: “We were delighted to be involved in this acquisition, which not only saved the employees’ jobs but hopefully will also enable the business to further grow and develop.”
Mr Brooksbank assisted in negotiating the sale and realising the assets of the company and Leeds law firm Clarion acted for O’Haras in relation to the appointment of the administrator and the immediate sale of the assets.
Ben Ramsay of O’Haras commented: “This is the best possible outcome for this well-established business and its loyal workforce. With an experienced director at the helm who really understands the sector, Andrews Fasteners has a brighter future ahead.”