Experts from business advisory firm Quantuma have completed a pre-pack administration sale of a Leicester-based trio of science themed businesses - Sublime Science Ltd, Science Boffins Ltd and Hatton Science Communication Ltd, trading as Letterbox Labs.
Quantuma's Richard Easterby and Michael Kiely were appointed as Joint Administrators and have completed the business and asset sale shortly afterwards to Launchpad Publishing. Alongside its children’s science magazine Whizz Pop Bang, this new acquisition will solidify Launchpad Publishing’s position as a leading provider of engaging, hands-on science experiences for children.
Founded in 2008, Sublime Science Ltd, Science Boffins Ltd and Hatton Science Communication Ltd specialised in bringing fun science to children via parties, hands-on school workshops and a postal science kit subscription service.
The business generated annual turnover of over £1m, but recently fell into difficulty, due to its debt-burden, despite a strong underlying business.
The companies employed a total of eight staff – seven of whom have been transferred to the purchaser under TUPE regulations.
Richard Easterby, Joint Administrator and a director at Quantuma, said:
" I am delighted to have achieved such a positive outcome. The sale secures the continued trading operation of Sublime Science, Science Boffins and Hatton Science Communication and the purchaser is a great fit for the business. Our involvement sees the majority of jobs saved, the rescue of a well-established brand and an uninterrupted service for customers.”
Jenny Inglis, CEO of Launchpad Publishing, said:
“We are thrilled to bring these incredible brands together under one roof. Together, we will continue to spark curiosity and inspire a love of science in children across the UK, empowering them to explore, experiment and learn in a fun and engaging way.”
