Jobs saved as buyer found for SafeTIC
AROUND 40 jobs have been saved after a technology firm was sold out of administration.
SafeTIC UK Limited, part of the France-based SafeTIC Group, had offices in Solihull, Manchester London, and Edinburgh, and had three areas of expertise – biometric fingerprint technology systems, defibrillator technology and high-level building security systems.
Joint administrators Craig Povey and Kevin Murphy of corporate recovery firm Chantrey Vellacott DFK, managed the sale. Stephen George of Squire Sanders also acted on the deal.
The company’s assets have been bought for an undisclosed sum by French business Butler Capital Partners, and will trade as Butler Safe Technologies Limited.
Craig Povey, a partner in Chantrey Vellacott DFK’s Birmingham office, said: “SafeTIC UK Limited was a market leading company in the production of digital fingerprint readers, heart defibrillators and technology behind high security systems found in places such as childcare centres and gyms.
“The company ran into difficulties after running up around £1m of HMRC arrears in PAYE and VAT and was forced to file for administration in February.
“The sale of the UK arm of the company to Butlers Capital Partners has saved 39 jobs.
“Under the control of new owners, the business renamed Butler Safe Technologies Ltd will focus on supplying defibrillators and biometrics access control throughout the UK.”
