Jobs saved through pre-pack sales process at Hale firm
Almost 30 jobs have been saved by Mazars, the tax, audit and advisory firm, following the sale of Sabre Instrument Valves, based in Hale, Manchester.
As joint administrators, Mazars completed the sale of SIV, a valve manufacturer and distributor to the oil and gas industry, to Alco Valves, based in Brighouse, on March 24, saving the jobs of all 27 of the firm’s workforce.
Julien Irving and Patrick Lannagan, restructuring partners and joint administrators, said: “Unfortunately the pandemic adversely impacted the oil and gas industry, which, in turn, had a direct impact on SIV.
“However, we are pleased that we were able to effect a successful sale of the businesses.
“In doing so we have provided continuity of operations and the retention of all staff within the company.”
Mark Sargent, a director of Alco Valves, said: “Sabre’s team and product range will complement those of Alco’s.
“The combined businesses will provide synergistic value to the market and enable these long-standing brands to prosper.
“By merging the business into Alco, Sabre will have a secure future to provide its exceptional products and services to its customers.”