Machine specialist to close Yorkshire depot
The Doncaster base of machine moving and installation specialists Vanguard VML Group is to close, even though the national group has been bought from administration by private equity firm Oxygen Partners.
Specialist business advisory firm FRP Advisory LLP, were appointed as Joint Administrators of Vanguard (2001), trading as Vanguard VML Group, last week.
The company, which specialises in the movement and installation of machines across the UK and overseas, entered administration due to cashflow pressures and was subsequently bought by Oxygen Partners.
The firm had depots in Doncaster, Gateshead, West Bromwich and Bridgend. Only the depots in Gateshead and West Bromwich will continue to trade – saving 31 jobs via the sale.
FRP Advisory are still to confirm how many jobs will be lost at the Doncaster depot.
Meanwhile, Oxygen owners Mark Andrews and Steve Benger said they were delighted to be able to acquire the well-established brand and save two depots.
Managing Director of Vanguard VML, Mark Causier, said: “It’s great to have new investors to take the business forward at such a good time for us in our market. The complementary skills of the legacy business together with Oxygen’s wider strategic and financial expertise provide a great platform for our new business.”
Administrator Raj Mittal added: “We are delighted to have secured a deal which gives the business the support to continue to trade and service its customer base. The deal also ensures that jobs are secured across two of the key regions in which the business operates. We wish the team at Oxygen Partners and all the staff every success as they take the business forward.”
