Landscaping firm sold out of administration as a going concern
Tue, 18 Jun 2024 | BUSINESS SALE
AC Landscapes and Treeworks UK Limited, a specialist landscaping company headquartered in Devon, has been acquired out of administration. The sale of the company as a going concern to an unconnected buyer has saved more than 30 jobs.
Although based in Devon, the company operates across the South West, North East, North West and Midlands. It holds a number of strategic long-term frameworks with National Highways, providing landscaping, vegetation management and arboricultural consultancy services to the UK’s strategic highway and electricity distribution markets.
The company, which was founded in 2007, generates around £4 million in annual turnover, but fell into administration last week, with Gary Lee and Paul Stanley of Begbies Traynor appointed as joint administrators on June 14.
The joint administrators have now secured a sale of the business as a going concern to an unconnected third party, enabling the company to fulfil its existing contracts and saving 34 jobs.
Begbies Traynor partner and joint administrator Gary Lee said: “We are pleased to confirm the completion of the sale of the business and its assets as a going concern which provides continuity for the customers and all the staff.”
“The acquisition is an excellent strategic fit for the purchaser, expanding its existing presence in the strategic highways sector and providing additional capability to support the water sector with the implementation of nature-based solutions.”
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