80 jobs saved as 133-year-old firm sold out of administration
Some 80 jobs have been saved after a Leicestershire noise control and acoustics firm was sold out of administration.
Wiltech Acoustics has bought Hodgson Acoustics Company, based in Old Dalby, near Melton Mowbray.
With origins tracing back to 1890, Hodgson Acoustics operates in the industrial noise control and acoustic solutions sector, specialising in the design, manufacturing and installation of acoustic canopies. The company fell into administration due to capacity and efficiency issues which resulted in delays to ongoing orders and subsequent cashflow problems.
Wiltech Acoustics, based in Loughborough is an associated company of WB Power Services, which specialises in providing critical power, maintenance and hire solutions to organisations including data centres, hospitals and military facilities. All 80 employees together with certain assets will transfer to Wiltech Acoustics.
Glen Carter, restructuring advisory director at RSM UK and joint administrator, said: “We are pleased that this sale has resulted in the continued employment of all staff and minimised disruption to key customers of the business. We are confident that the transaction has secured the best possible outcome for creditors given the circumstances and wish the purchaser all the best as they take the business forward.”