Educational firm snaps up assets of competitor which slumped into administration

TecQuipment, a provider of educational equipment for engineering sector, has bought certain assets of Cussons Technology out of administration.

The deal includes the intellectual property specifically associated with the Manchester firm’s engineering educational division and also certain physical assets such as manufacturing equipment and educational product stock.

The remaining part of Cussons Technology, the marine hydrodynamics & industrial division, is not included in the acquisition.

TecQuipment says the deal will allow to rapidly expand the company’s range of engineering teaching products, and offer customers a greater choice within existing product areas.

Cussons slipped into administration on 17 October.

Simon Woods, TecQuipment’s managing director, said: “TecQuipment is dedicated to being the leading provider of engineering teaching equipment to universities and colleges around the world, by delivering premium quality products, with unrivalled customer service.

“This asset acquisition is part of an ongoing strategy to offer an ever more comprehensive range and depth of engineering teaching products. It particularly strengthens areas such as the teaching of sustainable energy and steam power, along with further bolstering teaching capabilities related to topics including aerodynamics, fluid mechanics, process control and engines.”

He added: “We appreciate that this is an uncertain time for customers and agents of Cussons Technology Ltd, and wish to reassure the market that we will endeavour to assist in meeting their educational teaching equipment needs in the smoothest means possible. As a result we have set up a dedicated team to deal with such enquiries that is headed up by TecQuipment’s sales and marketing director Jon Chicken.”