Quantuma help rescue a leading UK reseller of site surveying, leak detection and visioning systems, securing future of all staff
Business advisory and restructuring specialists at Quantuma have helped rescue one of the UK’s leading resellers of site surveying, leak detection and visioning systems, supplying major construction, contracting, utility and emergency service organisations.
Graham Randall and Mark Roach from Quantuma’s Bristol office were appointed joint administrators at M.A.N.S. Location Services Limited on 8 May 2018 after the company had become over-burdened with debt and run into cash flow difficulties.
Prior to their appointment Quantuma were engaged by the company to look for potential buyers in an accelerated timeframe.
Within seven days Quantuma had identified 15 interested parties and received a number of offers for the business and assets.
The business was sold in a prepack deal to HMG Water Solutions Limited, a subsidiary of Heath Morgan Group. Heath Morgan Group also own the award-winning Synthotech Limited, who specialise in similar equipment for mains gas distribution & transmission pipelines.
Graham Randall, a partner at Quantuma, said: “M.A.N.S Location Services Limited has been at the forefront of the site surveying and inspection industry for over a decade but in recent times it had encountered cash flow difficulties.
“There were strong levels of interest in the business and we are delighted that Heath Morgan Group, was able to active decisively in completing this deal and securing the future of all staff.”
Ends (206 words)
For further information, please contact:
Marie Wadeson, Director of Marketing,
Quantuma LLP, High Holborn House, 52-54 High Holborn, London, WC1V 6RL
Tel: 07464 545678
or Andy Skinner, Managing Director, ASAP PR – 07990 978257
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth.