Administrators Howard Smith and Jonny Marston of KPMG have secured the sale of the service, repairs and uninterruptible power supply (‘UPS’) divisions of Progress Plant (Yorkshire) Limited (‘Progress’) to Brimlow Limited, which trades as PowerPlant Services ('PPS'), in a deal that has saved 22 jobs.
Gildersome-based Progress is a specialist supplier of electrical generators, generator hire, service and parts, temporary electrics and uninterruptible power supplies. The Joint Administrators were appointed to the business on 24 September 2014 after it was unable to meet its financial obligations following working capital pressures.
PPS, which is headquartered in Leeds, provides industrial maintenance and servicing for generators and pumps across the UK. PPS has acquired the service and repair division and the UPS offering of Progress, as well as taking occupation of its three key trading sites in Gildersome, Leeds; Biggleswade, Bedfordshire and Larbert, Falkirk.
As part of the deal, 22 employees, will transfer to PPS, while three employees from the contracts business have been made redundant and three employees have been retained in Progress to assist the Administrators.
A total of 40 members of staff have been made redundant since the appointment. Progress’ operations in the remainder of its sites will be wound down by the Joint Administrators.
Howard Smith, Associate Restructuring Partner at KPMG, said: “Since our appointment, we have worked quickly to identify a buyer for Progress. The sale of the business to PPS will maintain operations at Progress’ major sites and help to secure a number of jobs in their local areas.”
Creditor and asset sale queries should be directed to:
Rob Nelson: 0113 231 3767
Employee queries should be directed to:
Jayne Turner: 0113 231 3028
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For further information please contact:
Alastair Henry, Citypress (on behalf of KPMG)
T. 0161 235 0320 / 07738 206847
KPMG Press Office: +44 (0) 207 694 8773
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