FRP Advisory Partners says Atlas offered the best solution to the company and its creditors
Preston, UK-based Atlas Clean Air has bought elements of the trade and assets of controlled environment specialist Mach-Aire of Horwich, Bolton.
No financial details have been revealed.
Atlas expects to maintain the acquired Mach-Aire business as an independent trading subsidiary based at its Preston head office, ensuring continuity of service for Mach-Aire’s customers.
On 20 February 2015, FRP Advisory partners Tom MacLennan and Ben Woolrych were appointed joint administrators to Mach-Aire. The £8m-turnover business designed, engineered, installed and maintained controlled environment and airflow technology systems such as fume cupboards. It employed 70 people.
The joint administrators said they received a number of approaches from interested parties and ultimately chose Atlas after deciding that it offered the best solution for the company and its creditors.
Woolrych said: 'The sale to Atlas provides the best solution for the creditors of Mach-Aire Limited, ensuring the brand can trade under the new ownership of an established, successful Lancashire-based firm and ensuring the loyal customers continue to receive the service and support they deserve.
'The administration process enabled discussions with competitors and other interested parties with a view to achieving a sale of the assets. We would like to thank all of Mach-Aire's stakeholders for their support during this process and wish Atlas continued success for the future.'
Paul Riley, Managing Director of Atlas, added: 'This latest acquisition is very much in line with our growth strategy and we shall ensure continuing support for the well-established Mach-Aire client base. The business has an enviable name for quality and reliability and our focus will be on retaining and developing those vital client relationships.'