100 year-old office supplier bought out of administration
SHEFFIELD family-run office equipment supplier RA Roberts has been bought out of administration by Complete Office Solutions.
All 13 jobs at the firm have been saved.
Insolvency practitioners Robert Dymond and Lisa Hogg from Wilson Field brokered the deal after being appointed to RA Roberts, based on Shepcote Business Park, on September 18.
Competition from web-based suppliers caused RA Roberts to suffer a downturn in trading and cash flow problems.
The firm attempted a proactive diversification strategy, increasing product range and office showroom improvements, but to no avail.
Wilson Field sold the business and assets of the firm to Wakefield’s Complete Office Solutions, which has been aggressively pursuing growth through acquisitions this year.
Complete Office Solutions reported sales of £27.3m in 2014, with a pre-tax profit of £800,000.
In September the firm completed deals on five acquisitions which is said will add around £7m in sales. This follows three purchases in January and May which between them added £7.5m.
Complete Office Solutions currently has 10 locations 6 of which are based in the North of England.
Robert Dymond, insolvency practitioner at Wilson Field, said: “RA Roberts had a long history and a good reputation and we attracted a host of enquiries from interested parties regarding the sale.
“We are pleased to be involved in preserving this established Sheffield business which now has a new, positive future in the hands of Complete Office Solutions. As well as securing jobs, this has maximised realisations which should result in a better return to creditors than would otherwise have been possible.”
Director Richard Coulson at Complete Office Solutions said: “RA Roberts has been established as a family business for over 93 years, and the purchase strengthens our base in the South Yorkshire area.”
Wilson Field worked with valuers and asset management consultants Charterfields on the sale with legal advice from Neil Kelly at Sheffield’s MD Law, who said: “It’s so pleasing to achieve the completion of a transaction that has seen the rescue of a business with such a long history in the Sheffield area.”
