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FRP Advisory secures sale of Hiremee Ltd

9 June 2011

Going concern sale enables tool and plant hire supplier to continue to trade into the future.

FRP Advisory has facilitated the sale of plant and tool hire provider, Hiremee Ltd, to investment fund, Hamilton Day, on 9 June 2011, securing all 13 jobs across two depots located in Royston and Ware in Hertfordshire.  

Hiremee Ltd entered into administration on 18 May 2011, with the appointment of Joint Administrators Jason Baker and Geoff Rowley, partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm.

The Joint Administrators were able to successfully trade the business in Royston and Ware, whilst seeking a buyer as a going concern. A third site in Bishops Stortford was closed down following the resignation of the only employee based at that location.

Commenting on the sale, Jason Baker said: "We are delighted to have secured a sale of the business and assets to Hamilton Day. The sale, which saves 14 jobs across the two locations, represented the best outcome for creditors, as well as the business and its stakeholders.

"The company has a sound client base with a high level of repeat custom and, under new ownership, will be able to prosper."

Hiremee Ltd was established in 1976 and hires equipment such as large machinery, tools, clothing and lighting to customers based across Hertfordshire, Cambridgeshire and Essex. 

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