Skan Group Holdings Limited, has successfully completed negotiations with Baker Tilly Restructuring and Recovery to acquire the assets and businesses of both Reynolds Boughton Limited and Reynolds Boughton (Devon) Limited – previously collectively known as the Boughton Group. The businesses, which have been in administration since April 1st, under the control of Administrators Graham Bushby and Guy Mander, both partners at Baker Tilly, are being acquired as going concerns. The new single entity will be known as Boughton Engineering Limited.
The companies, which operate out of two manufacturing sites – at Barton-under-Needwood in Staffordshire and Winkleigh, Devon, currently employ 40 people, manufacturing specialist equipment and trailers for a range of industries including the defence, waste and recycling industries. (Visit www.reynolds-boughton.com )
Skan Group also owns Wolverhampton-based specialist trailer, transport equipment and engineering company, Oldbury UK Limited, which serves sectors including road transport, construction, extraction, wastes management, defence and aerospace. Its fully accredited TUV ISO 9001 engineering capabilities include the design, development, manufacture, integration and supply of trailers, transportable systems, ruggedised ancillary equipment and carrier platforms from lightweight applications through to maximum weight special types. (Visit www.oldburyuk.co.uk )
Group Managing Director, Richard Skan says, "This is an important strategic step for the Skan Group. There are strong synergies with Oldbury UK already – and I am confident that there are also significant opportunities for us to develop together in the future. The Skan family’s philosophy includes a strong commitment to the continuous development of its businesses, supported by ongoing investment in products, people and processes.
"Like many companies in the commercial vehicle sector, Reynolds Boughton suffered from the difficult trading conditions experienced over the last couple of years. However, with a sound engineering background and some world-class products, it is in a strong position to return to better times as the market recovers. With strong group financial backing, an experienced and motivated team and a loyal customer base, I believe that the company can look forward to controlled growth whilst continuing to deliver good customer value", says Richard Skan.
Administrator Graham Bushby of Baker Tilly adds, "We are delighted that a successful sale could be achieved so quickly. It is excellent news that the business will continue as a UK manufacturer and that many jobs will be preserved. With the Skan Group’s commitment to investment and development, the future for the business now looks bright and we wish them every success for the future."