GVA appointed to handle sale of auto firm’s patents
PROPERTY consultant GVA has been appointed by administrators handling the collapse of an automotive components business.
Zeroshift, which specialised in transmission technologies, fell into administration in July when BRI Business Recovery and Insolvency was appointed to handle its affairs.
BRI has now asked GVA to seek offers for the design rights and patents of the Zeroshift business, which is based in Milton Keynes.
Zeroshift had become a well-known name in the automotive industry following the design of its revolutionary transmission system, which enables drivers to make instantaneous gear changes.
As well as lightning-fast shifts, the Zeroshift system is also considerably lighter, cheaper and more fuel efficient than comparable top-of-the-line continuously variable and double-clutch transmissions. Due to its design, the Zeroshift transmission can also be retrofitted to most cars, motorbikes and buses without the need for major modifications.
GVA’s Plant and Machinery team is acting as agent on behalf of BRI and will provide advisory services and administer the sale of Zeroshift’s assets.
Richard Barlow, Director, GVA Plant and Machinery, said: “It is important to highlight that there is no physical plant available, but rather that we are looking to dispose of a package of intellectual property which includes the name, design rights and patents to the Zeroshift transmission system, on behalf of the administrators.
“This is an extremely valuable asset and one that in five to ten years’ times could be commonplace in the industry given the correct level of investment. The transmission’s potential has already been successfully proven in a number of independent tests and we strongly encourage any interested parties to contact us as soon as possible.”
GVA’s specialist Plant and Machinery team values everything from proprietary and bespoke plant manufacturing equipment, to the more unusual machinery, including aircraft and armoured vehicles. The team is represented on the plant and machinery valuation panels of the major clearing banks and asset-based lenders and work with all major UK insolvency practitioners.