Engineering business rescued from administration

Huddersfield-based Highfield Gear Industries has been rescued from administration, saving 16 jobs.

Business advisory and corporate recovery firm Quantuma were appointed administrators after the company hit financial problems. They have confirmed the sale the company to Yorkshire Engineering Services 24/7, with all jobs transferred with the business.

Highfield Gear Industries was originally established in 1927, with the latest version of the business trading since 2016 from Nile Street, Huddersfield.

The company manufactures gearboxes, gears and related parts, undertakes repairs and holds spares, and its most recently reported financial year it had a turnover of £1.6m.

Andrew Andronikou, a partner at Quantuma, said: “Changes in the business at Highfield Gear Industries had led to rising overheads and resulted in cashflow problems.

“We had approaches from a number of interested parties and were pleased to quickly achieve a sale of the business as a going concern, with all 16 jobs saved.”