Chantrey Vellacott saves 40 SafeTIC jobs

by Calum Fuller

More from this author

14 Mar 2012

  • Comments

ADMINISTRATORS from Chantrey Vellacott have saved approximately 40 jobs at technology firm SafeTIC after selling it out of administration.

Specialising in biometric fingerprint technology, defibrillator technology and building security systems, SafeTIC had offices in London, Birmingham, Manchester and Edinburgh.

Joint-administrators Craig Povey and Kevin Murphy of Chantrey Vellacott DFK managed the sale of SafeTIC UK, part of the France-based SafeTIC Group. Stephen George of Squire Sanders was also involved in the deal.

SafeTIC encountered problems after accruing around £1 million of HMRC arrears in PAYE and VAT and was forced to file for administration in February.

The French firm Butler Capital Partners has purchased the company's assets for an undisclosed sum, and will trade as Butler Safe Technologies Limited.

"The sale of the UK arm of the company to Butlers Capital Partners has saved 39 jobs across its London, Manchester and Edinburgh operations, along with field based staff," said Povey, business recovery partner at Chantrey Vellacott's Birmingham office.

"Under the control of new owners, the business renamed Butler Safe Technologies Ltd will focus on supplying defibrillators and biometrics access control throughout the UK."

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Financial Planning and Performance AnalystCabinet Office-Greater London-Competitive

 
 
 
 
 
 
 
 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.