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Sheffield Engineering firm sold

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Sheffield-based Barker Collins Engineering Ltd, a specialist in subcontract precision engineering, has been bought out of administration, thanks to a deal negotiated by a group of Yorkshire advisers.

Sheffield-based Barker Collins Engineering Ltd, a specialist in subcontract precision engineering, has been bought out of administration, thanks to a deal negotiated by a group of Yorkshire advisers.

The company was placed in the hands of administrators KPMG on 27 September following a period of poor trading due to the recession.  It was marketed while in administration and on 18 October a new company, Barker Collins Ltd, led by the former management plus new investors, bought the business and assets, safeguarding 22 jobs. 

The deal was brokered by Graham Camm of Sterling Corporate Finance in Leeds who acted as lead adviser for the purchaser providing insolvency and financial planning expertise as well as negotiating with the administrators and securing funding.  Leeds-based legal firm Clarion was brought in by Sterling Corporate Finance to advise the new company.

Established over 20 years ago, Barker Collins has built a reputation as a leader in its field, manufacturing large, complex and high-precision parts for blue-chip customers in the oil/gas, nuclear, marine, power generation, yellow goods and petrochemical sectors.   With state-of-the-art machine tools and an innovative approach to tooling and software applications, the company delivers high-quality, value-driven engineered solutions. 

“This is a sound business with a viable future,” comments Graham Camm, partner at Sterling Corporate Finance.  “The company hit difficulties when the recession struck, turnover fell and as a result, bank funding reduced.  Having made efficiencies, the new company is in a strong position to benefit as the market recovers.

“In this type of situation, it is crucial that specialist advisers who understand the issues around insolvency and the need for swift action are involved so that a deal can be completed very quickly with the minimum disruption to the business.”

Chris Carter, managing director of Barker Collins Ltd, comments: “This is a business with a great future, there is huge potential for growth within the renewable energy fields, such as wind, carbon capture and nuclear.  Sterling Corporate Finance recognised this potential and, using an excellent team of Yorkshire advisers, were able to put together a deal to enable us to take the business forward.”

-ENDS –

For further press information, please contact:

Susan Reid on (01423) 56 99 99 or susan@appealpr.com