16 jobs saved as Bradford engineering business rescued from administration

Alatas Engineering Limited, the bradford-based provider of mechanical engineering services and hydraulic solutions, has been saved from administration.

The firm, based in Low Moor, was acquired in a deal negotiated by joint administrators Julian Pitts and Nick Reed of Begbies Traynor.

Founded in 2000, Alatas Engineering specialises in the repair and testing of pumps, motors and actuators as well as complete system overhauls.

The company has grown into a £1.5m turnover business operating from a fully equipped workshop with fault diagnostics, testing, manufacturing and machining facilities.

On 27th September, Alatas Engineering was placed into administration as a result of a number of exceptional circumstances including the downturn in the oil and gas industries.

The company continued to trade while a buyer was sought and, following an accelerated marketing process, a sale of the business and assets was completed to Alatas UK Limited on 17 October 2016.

The deal safeguarded the jobs of the remaining 16 employees.

Julian Pitts, joint administrator, said: “Unfortunately, Alatas was a victim of unforeseen changes in market conditions. However, with its strong reputation within the sector as a one stop shop for engineering and hydraulic repairs, we were confident that it had a viable future.

“Having undertaken an accelerated marketing process, we were swiftly able to conclude a sale which not only enabled the business to continue to trade, so saving jobs and contracts for suppliers, but also realised the best return for creditors.”

Law firm Clarion acted for the joint administrators.

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