Jobs saved as engineering company sold by administrators

Administrators have secured a rescue deal for a Black Country engineering company, safeguarding 24 jobs.

Richard Tonks and Kim Richards from BK Plus were appointed as joint administrators of the engineering firm T.M. Engineers (Midlands) on April 26th.

Soon after their appointment, they facilitated a pre-pack sale to TM Specialist Engineers, a new business supported by a party not previously associated with the company.

Tonks said: “We are delighted to have completed a sale that ensures continuity for the Company’s employees and sustains a long-established business in the Black Country.

“Although the company had invested heavily to improve its physical and procedural infrastructure, it faced challenges due to rising costs in materials, labour, and utilities. Nevertheless, the highly skilled workforce and high-quality engineering facilities made it an attractive proposition for the right buyer.”

The sale was supported by legal advisors Russ Hill and Emily Davis from Squire Patton Boggs, Richard Mascall from MGR Appraisals, and, Toby O’Sullivan from Watling Real Estate.