Ebor Concretes has been acquired out of administration by JP Concrete Products Ltd to provide a second production plant to support its Nottingham headquarters.
Ebor Concretes was founded in 1942 and had been in the same family ownership until it was acquired by Amber Precast in April 2016. It went into liquidation in February 2019 after running into trading difficulties and was bought out of liquidation by David Brennan. But in December 2021 it was back in administration, having struggled to cope with the impact of the pandemic on cashflow and workloads.
Mr Brennan died unexpectedly on 30th November while the sale process out of administration was ongoing.
The sale to JP Concrete Products was completed shortly before Christmas, saving the jobs of all 26 staff.
JP Concrete Products director Philip Cavalier-White said: “We are delighted to have been able to secure the future for Ebor Concretes’ factory and staff. We saw great value in the team of people and are excited about the future as we develop the site and staff as part of our wider business.”
Armstrong Watson’s restructuring and insolvency partners Rob Adamson and Mike Kienlen were engaged to assist with an accelerated sale of the business through an administration in mid-November. Working in conjunction with BPI Asset Advisory, they had two bidders.
Rob Adamson said: “The director's sudden passing caused a few issues, however we worked with the family who were keen to proceed with the sale. The strategy was simple – keep the business trading whilst we tried to complete the sale process. After a challenging 10 days of trading the business, we managed to complete a sale to the third party at 6pm on 16th December 2021.”
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