Business advisory firm Quantuma has completed the sale of Jets (Bournemouth) Ltd, a subsidiary of Casarian Holdings Ltd, to Jets International Holdings Ltd, in a deal that saves 25 jobs.
Jets (Bournemouth) Ltd is a specialist aircraft engineering company based at Bournemouth Airport, which had been suffering from lack of investment and poor cashflow for some time.
This follows the appointment of Carl Jackson of Quantuma LLP and Philip Duffy of Duff & Phelps Ltd Joint Administrators of Casarian Holdings Ltd, in November 2019. Casarian Holdings Ltd is a Jersey registered company and is part of the wider Carlauren Group.
With the assistance of Quantuma’s Corporate Finance team, a package was quickly put together which permitted the sale of the company shares by the Joint Administrators to Jets International Holdings Ltd, a new company formed to invest and develop Jets (Bournemouth) Ltd. The sale preserved the status of the company and saved some 25 jobs.
Jets International Holdings Ltd has promised to bring new work and investment to the company. A spokesperson for the company said: “We are looking forward to developing and increasing the business here in Bournemouth and we have already arranged for new customers work to be brought here shortly.”
Carl Jackson said: “It is a fantastic outcome for the Joint Administrators of Casarian Holdings Ltd to be able to provide a rescue package for the subsidiary business, which in doing so secures the employment of all 25 staff members and provides ongoing investment into the business.”
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Notes to Editors
Quantuma LLP 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. The business has 18 offices, including 15 in the UK, two international offices in Cyprus (Nicosia and Paphos) and one in Mauritius.
