Manufacturer saves jobs buying machinery firm out of administration

PARTof BSA Machine Tools has been bought out of administration by a Halfiax firm in a deal which secures the jobs of 11 people.

Halifax-based Machine Tool Technology Group (MTTG), also a machine tool manufacturer, has acquired the brands, patterns, drawings, designs, spares and service operations of the Birmingham-based business.

The sale has resulted in 11 employees transferring to MTTG. A further three employees are being retained in realising the remaining assets of BSA and winding down the affairs of the company.

However, 15 jobs have been lost at the business due to the manufacturing operation not being part of the deal.

A team from EY, led by Tom Lukic as joint administrator and Dan Hurd, lead director, and a team from Squire Patton Boggs, led by partner Russell Hill, worked closely with MTTG to support the deal.

Mr Lukic said: “We are very pleased to announce the sale of the spares and parts division of BSA Machine Tools to MTTG, securing the future of 11 skilled employees.

“Regrettably it has not been possible to secure a future for the machine manufacturing part of the business and this has led to the loss of 15 jobs. A further three employees have been retained to assist the Joint Administrator’s realise the remaining assets of BSA.”

Carl Griffiths, managing director of MTTG, said: “MTTG operates a large and diverse machine tool servicing, maintenance and parts supply division from our Yorkshire base, and already exports machine tools and services internationally to countries such as China, Taiwan, USA, Europe, India, Africa, Australasia and the Middle East.

“This acquisition will benefit the entire group by enabling the company to offer a more diverse range of machine tool services. But more importantly, for previous customers of BSA Machine Tools it will mean continuity of maintenance, servicing and parts supply.”