Administrators secure sale of facilities management and stadium security firm
Fri, 05 Jul 2024 | BUSINESS SALE
A facilities management and stadium security provider based in South Yorkshire has been acquired out of administration in a deal that secures more than 3,000 jobs. Intelligent Protection Management Group employs more than 200 staff at its South Yorkshire, as well as over 3,000 casual workers across the country.
The company, which was founded in 2006, is a multi-service security, facilities management and stadium management provider, with clients spanning both the public and private sectors. Its clients include the NHS, football clubs, councils, social housing schemes, the catering and hospitality sector, the leisure industry and high street retailers.
Despite this strong, diverse client base and the company’s prominent position within the industry, Intelligent Protection Management Group recently fell into administration, with Danielle Shore and Ryan Holdsworth from the Sheffield office of Leonard Curtis appointed as joint administrators.
The joint administrators subsequently confirmed that a buyer has been found for the business, with the deal securing all jobs at the firm. The joint administrators were supported by the legal team at Irwin Mitchell, while the buyer was represented by MD Law.
Announcing the deal, joint administrator and Leonard Curtis Associate Director in Sheffield Danielle Shore commented: "This is a great result for the company and for the region's economy and we are particularly delighted that jobs have been saved now that the company's future has been assured.”
"By recognising the warning signs and seeking professional advice, IPM safeguarded an extremely successful business and ensured its continued success despite some unexpected challenges.”
"We are pleased that such a positive outcome has been reached and wish the new owners every success as they take the business forward."
Distressed acquisitions can deliver enormous value for savvy buyers, but due diligence is more vital than ever when acquiring companies out of administration
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