Business advisory firm Quantuma has completed the sale of Huddersfield-based chemicals manufacturer, Grosvenor Chemicals, in a deal that saves the 25-year-old business and the jobs of its remaining workforce.
The business has been sold to JT Agro and Widecover, with all operations and assets transferring to the new owner who will trade as JT Grosvenor Limited.
Grosvenor Chemicals was part of the Whyte Group of companies which fell into administration last year, prior to which it made chemical products for a variety of sectors across the UK, including the agrochemical, pharmaceutical, household and industrial markets.
Paul Zalkin and Andrew Andronikou of business advisory firm Quantuma were appointed in August 2018 and immediately secured additional funding to enable the business to continue trading.
Working closely with the company’s operations director and staff members, the administrators stabilised the business and restructured operations, shutting loss-making divisions to focus instead on profitable agro-chemical formulation.
Paul Zalkin, Partner at Quantuma, said: “After being appointed as administrators the easy decision would have been to close the gates. Instead we worked hard to stabilise operations and, with the support of the company’s employees, customers, suppliers and its lender, have rescued the business. JT Grosvenor has ambitious plans to invest and expand the business - we wish them every success.”
ENDS
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. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).
