BusinessBusiness RecoveryE&Y finds buyer for motor business contractor

E&Y finds buyer for motor business contractor

Sold to management team

Administrators from E&Y have found a buyer for the
contracting
division of Scott Electromech
, the electric motors manufacturer based in
Belfast.

The division was sold to a management team led by
Gordon
Nixon
, contracts manager with the company since 1988.

Commenting on the proposed transaction joint administrator Joan Houston said,
‘We are delighted to achieve the sale of a substantial proportion of the
business, despite a very challenging environment, safeguarding over half of the
workforce.’

Further reading:

E&Y calls in investment bank to value Metronet

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