Kirton Engineering Limited (“the Company”) has been acquired out of administration by Gecko Recruitment Limited in a deal that has saved 13 jobs.
Rajnesh Mittal and Steven Stokes, Partners in our Birmingham office, were appointed Joint Administrators on 21 February 2018 after the Company experienced financial difficulties. Upon appointment, the Joint Administrators secured the sale of the business and certain assets to Gecko Recruitment Limited (t/a Gecko), with funding provided by Oxygen Partners. The new business will shortly be rebranded as Kirton Water Treatment Services and will relocate a short distance away from its current Shepshed site.
Kirton Engineering Limited (in administration) specialises in water reclamation plant manufacture and services. Prior to entering administration, the Company had been trading for more than 40 years. Following the acquisition, Steve Benger and Mark Andrews from Oxygen Partners, have joined the Board and management team.
Commenting on the deal, Rajnesh said: “The foundations of Kirton Engineering (in administration) were solid, with a strong customer base and reputation built up over many years. Unfortunately, financial issues resulted in the Company entering administration. However, as a result of management’s proactive engagement with us, we were able to find a way of allowing the business to continue to trade under new ownership.
“With Steve and Mark joining the Board of Kirton Water Treatment Services, the new business has the right mix of skills and experience to continue to trade and grow.”
Steve Benger, Chairman of Kirton Water Treatment Services added: “Mark and I have a great deal of experience within the engineering sector and together with Jon West, Jimmy Brooks and the existing management team, we’re in a strong position to take the new business forward. We are keen to expand our portfolio in the engineering sector and the acquisition of Kirton represents our second investment in the East Midlands in the past 12 months.
“Our first priority is to ensure that our customers and suppliers continue to receive the same high standard of service and after sales support. We look forward to a new and mutually beneficial relationship in the years ahead.”
We were able to find a way of allowing the business to continue to trade under new ownership.Raj Mittal Restructuring Advisory