Jobs saved as manufacturer swoops for counterpart

Credit: Precision Stone

More than 40 jobs have been saved at a Wolverhampton manufacturer, after administrators secured a rescue deal.

Precision Stone, a manufacturer of bespoke quartz, granite, marble and ultra-compact surfaces, has been sold to Derbyshire based National Stone Surfaces and will be known as Precision Stone Surfaces going forward. 44 jobs have been safeguarded at sites in Wolverhampton and Warwick.

Founded in 2001 with just three team members, Natural Stone Surfaces has grown to become one of the UK’s leading stone manufacturers, with a 175,000 sq ft manufacturing and storage facility.

Benjamin Wiles and Philip Dakin of Kroll were appointed administrators of Precision Stone, following an extensive sale process. The company’s Wolverhampton site was immediately sold to Natural Stone Surfaces upon their appointment.

The fate of the firm’s other site in Basingstoke is currently unknown.

Benjamin Wiles, Managing Director at Kroll, said “The Company boasts a longstanding and esteemed industry reputation and we are pleased to have been able to finalise the sale of a business, ensuring the continued employment of its staff.”

Weightmans’ Birmingham-based team advised Natural Stone Surfaces on the purchase.