Administrator seeks buyer for Coleshill engineering firm

A precision engineering firm in Coleshill is searching for a buyer to rescue it from administration.

Richard Tonks and Ian Gould from Baldwins were appointed as joint administrators of Co-Eng, after it encountered financial difficulties.

The company trades from 15,000 sq ft premises on Coleshill Industrial Estate and has been designing, manufacturing and inspecting a variety of components for engineering sectors such as automotive and aerospace, for more than 35 years.

The firm currently employs 20 members of staff after 14 left the company.

Tonks says he is hopeful of securing a buyer for the business.

He said: “Co-Eng is ideal for a party that either wants to expand their engineering services or scale up their resource.

“There has been substantial investment in new technology to bring previously sub-contracted work in-house. However, the borrowing required to do this was costly and the levels of income that were anticipated from the investment took longer than expected.

“The business is continuing to trade under our supervision while we search for a buyer, and the company is continuing to liaise with customers on their current and future requirements as part of our efforts to try and secure a viable future for Co-Eng.”