PracticeAccounting FirmsMercer & Hole agrees sale of G&M Power Plant

Mercer & Hole agrees sale of G&M Power Plant

Tex Holdings strikes deal to acquire business and assets of G&M Power Plant from administrators

Mercer & Hole agrees sale of G&M Power Plant

ADMINISTRATORS from Mercer & Hole have sold the business and assets of G&M Power Plant, the Top 50 firm said.

Tex Holdings, which manufactures and supplies engineering products, acquired Ipswich-based G&M Power Plant, which specialises in the design and assembly of bespoke electrical generator sets, following an “intensive marketing and sales process”, the firm said.

Mercer & Hole’s Chris Laughton [pictured] and Peter Godfrey-Evans were appointed as joint administrators of G&M Power Plant on 31 July.

At the time of the administrators’ appointment, there were 35 employees. As a result of this successful transaction, a considerable number of these jobs could be saved.

Chris Laughton, partner at Mercer & Hole, comments “We are delighted to have achieved a transaction that not only preserves a business and the jobs it supports, but will also lead in due course to a significant return to the company’s creditors.”

Related Articles

Mercer & Hole appoints new corporate finance director

Accounting Firms Mercer & Hole appoints new corporate finance director

5m Emma Smith, Managing Editor
FRP Advisory sells Spectrum Contracting to Minstrell Recruitment

Accounting Firms FRP Advisory sells Spectrum Contracting to Minstrell Recruitment

12m Stephanie Wix, Writer
Mercer and Hole merges with Rickmansworth office of Day, Smith and Hunter

Accounting Firms Mercer and Hole merges with Rickmansworth office of Day, Smith and Hunter

1y Richard Crump, Writer
FRP Advisory sells Harland Machine Systems to Accraply Europe

Accounting Firms FRP Advisory sells Harland Machine Systems to Accraply Europe

1y Richard Crump, Writer
CVR Global sells DMG Steelworkers out of administration in pre-pack deal

Accounting Firms CVR Global sells DMG Steelworkers out of administration in pre-pack deal

1y Richard Crump, Writer
Begbies Traynor appointed administrators of William Anelay

Accounting Firms Begbies Traynor appointed administrators of William Anelay

1y Richard Crump, Writer
Smith & Williamson appointed administrators of 4Children

Accounting Firms Smith & Williamson appointed administrators of 4Children

1y Richard Crump, Writer
Cowgill Holloway concludes sale of film distributor Metrodome

Accounting Firms Cowgill Holloway concludes sale of film distributor Metrodome

1y Richard Crump, Writer