IT firm’s owner regains control after administration

The owner of IT business Entatech has bought the business back a week after it collapsed into administration.

Dave Stevinson, through his vehicle GNR Technology, has taken back control of a smaller business after 50 of the 79 staff were made redundant.

The Telford-based company distributed Microsoft products but had endured a tough few years with its workforce halving from more than 150 in the two years leading up to administration.

Entatech’s former owner, Jason Tsai, was banned from being a company director earlier this year for his part in a VAT carousel while running Entatech.

Stevinson had bought Entatech in 2015 through his company Stevinson Capital. Although he had been able to agree a settlement with HMRC, he had been unable to turn the company’s fortunes around.

The “loss of a number of key contracts and declining sales” was blamed for Entatech’s continuing problems.

After a failed attempt to sell the business, KPMG’s Chris Pole and Mark Orton were appointed joint administrators on May 8.

They have now completed the sale of the business and its assets to Stevinson and the remaining 29 employees will transfer over.

Pole said: “We are pleased to have completed a sale of the Entatech business, safeguarding the employees at the Telford site.”

The company and the joint administrators were assisted by Devinder Singh and Russ Hill from Squire Patton Boggs on the transaction.