A total of 26 jobs have been saved after a buyer was found for a troubled North Yorkshire construction firm Ebor Concretes Ltd.
Administrators were called in to the Ripon company before Christmas, and have been able to secure an accelerated sale to Nottinghamshire operator JP Concrete Products Ltd, despite the tragic loss of a director during the process.
The pre-cast specialist now aims to breathe new life into the business, drawing on its operations across construction and agricultural markets for the last 15 years.
Read more: List of construction firms that have collapsed into administration since 2021
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.”
Ebor provides a second manufacturing site for the Staunton in the Vale-headquartered business, with sales offices in East Sussex and Devon as well as research and development in Liverpool.
Leeds-based Armstrong Watson’s restructuring and insolvency partners Rob Adamson and Mike Kienlen were engaged to assist in mid-November.
Ebor, which was a family business from launch in 1942 to an acquisition by Amber Precast in 2016, was plunged into crisis in early 2019 due to trading difficulties.
Working in conjunction with BPI Asset Advisory, Armstrong Watson was able to generate interest in the business and had two bidders keen to proceed, before the sudden passing of a director.
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Mr Adamson said: “Our job is to help people and businesses address their challenges and find solutions. 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.”