Transport tech firm edges closer to calling in administrators

Clowne firm attracted private equity investment last year

A private equity-backed transport technology firm, based in Derby, has edged closer to falling into administration  after it filed a second notice of intention (NOI) to appoint administrators yesterday (April 27)

Clowne-based Alliance Transport Technologies (ATT) received a multimillion-pound investment from BGF last year, but on Thursday the firm again posted a NOI, which will protect it from creditor action for a period of 10 days.

Companies can only post two NOIs before they either have to call in administrators, or continue to trade.

When BGF invested in ATT in March 2022, it was had pioneered the use of remanufacturing electronic components to allow commercial vehicle operators to decarbonise the maintenance of their fleets. Over the last few years, ATT has extended this expertise into hybrid electric battery technology.

Using ATTs capabilities, UK bus, coach and commercial vehicle operators were able to “significantly” expand the life of the hybrid batteries, delivering them both cost savings, reducing their carbon footprint and levels of e-waste.

It was reported at the time that BGF’s investment would enable ATT to accelerate investment in R&D, with the opening of a new R&D centre near Coventry. However, this looks unlikely to have happened.

The BGF deal was led by BGF investors Aaron Baker and Elena Kovalikhina. Baker also joined the board as BGF director last March, but stood down on March 27 this year.

ATT’s latest accounts, made up to December 30 2021 show a profit of just over £911,000 for the year. At the time, the company employed 51 people – up from just five in 2020.

A spokesperson for BGF told us that it remains a “small minority” investor in ATT, but would make no further comment.