Spring supplier bounces back as administrators secure rescue deal

All jobs have been saved at a steel spring supplier after the business was acquired out of administration.

Stride Supplies is one of the UK’s largest spring wire distributors headquartered in Redditch and provides products to blue-chip customers in the automotive, medical, aerospace and oil & gas industries throughout the UK, Europe and Far East.

Prior to the administration, the company operated across two leasehold premises in the Midlands.

Mark Blackman and Benjamin Wiles from Kroll were appointed as joint administrators and immediately sold the business and the majority of assets through a pre-packaged sale to Stride Supplies Redditch.

Mark Blackman, senior director at Kroll: “We’re pleased to have been able to secure the future of this key UK-based spring distributor, along with securing the jobs of all employees.”

Will Jones, Elizabeth Wood and Struan Mackenzie at Hill Dickinson law firm supported Kroll on the sale of the business.