Jobs saved following sale by joint administrators
All 33 jobs at two companies with operations in Yorkshire, Lancashire and Merseyside, have been saved following a sale by joint administrators.
Repair Maintenance & Overhaul (RMO) and Gatley Fluid Power are both registered in Grimsby.
James Hichens and Chris Petts, of Grant Thornton UK, were appointed joint administrators of the RMO and Gatley group of companies.
RMO and Gatley are distributers of electrical, mechanical, hydraulics and pneumatics, instrumentation and engineering consumables, covering all MRO products.
The joint administrators have now agreed a sale of the business and assets of the companies as a going concern to RAP Industrials, which is registered in Brighton.
The acquisition will ensure all 33 jobs at the businesses will be retained and operations continue at all trading premises.
The directors at RAP Industrials, said: “We are pleased to become involved with RMO and Gatley.
“We are confident that the skilled workforce, its experience and the facilities at the RMO and Gatley sites, coupled with our support, will enable the further development of these businesses.”
Administrator, James Hichens, said: “We are very pleased to have completed a going concern sale of the businesses, which secures the continued employment of a loyal and skilled workforce in these challenging economic times, particularly for the trade distributor sector.
“RAP Industrials is well placed to offer a platform from which the businesses can develop and continue to serve their commercial and industrial customers in the future.”
The administrators were advised on the transaction by Emma Sadler, Lowri Mumford, John Duffy and Conor McDermott of Addleshaw Goddard in Leeds.
RAP Industrials was advised on the transaction by Julian Turner, Ben Bodmer and Tom Jameson of CMS Cameron McKenna Nabarro Olswang in London.