Engineering business bought out of administration
A BRADFORD engineering business has been acquired from administration by Alatas UK.
Micron Precision Engineering went into administration on 27 September 2016. The company struggled following the downturn in the oil and gas sector.
Joint administrators Julian Pitts and Nick Reed of Begbies Traynor orchestrated the deal for the £1.5m business which specialises in the repair and testing of pumps, motors and actuators.
Based at Low Moor in Bradford and founded in 2000, the company continued to trade while a buyer was sought. Alatas acquired it and rebranded it on 17 October, saving 16 jobs.
“Unfortunately, Alatas was a victim of unforeseen changes in market conditions,” comments Julian Pitts, joint administrator.
“However, with its strong reputation within the sector as a one stop shop for engineering and hydraulic repairs, we were confident that it had a viable future.
“Having undertaken an accelerated marketing process, we were swiftly able to conclude a sale which not only enabled the business to continue to trade, so saving jobs and contracts for suppliers, but also realised the best return for creditors.”
Kidderminster-based Alatas has offices in the UK, Germany, North America, Hong Kong, Singapore, Dubai and Panama. It was founded in 1989 to provide an alternate source for original spare parts and crane services.
Law firm Clarion acted for the joint administrators.
