Irwin Mitchell Advises On Pre-Pack Deal

Newburgh Precision in Rotherham has been acquired by Ledantech Limited after going into administration, saving all 80 jobs at the firm.

Joanne Hammond and Claire Dowson of Begbies Traynor in Sheffield were appointed as joint administrators at Newburgh Precision on 22 January 2019.

The £1m pre-pack administration sale was completed with the help of a multi-disciplinary team from Irwin Mitchell in Sheffield. Tom Paton, restructuring & insolvency partner, along with Hal Roberts advised Begbies Traynor. Kirsty Ayre, employment partner, and Guy Whitehead in real estate also supported the deal.

Part of the Newburgh Group, Newburgh Precision was founded in 1939 and manufactures precision machined and fabricated engineering components and assemblies for all industrial sectors. It has an 85,000sq ft world class production facility in Rotherham. 

Ledantech has acquired all of the assets as well as retaining the 80-strong workforce. They were advised by Sheffield-based 7 Legal & Finance Ltd.

Joint administrator Joanne Hammond said: “After 75 years in business, it’s fantastic news that this sale has enabled the firm to continue trading, saving all 80 jobs as well as securing its supply chain. We wish it well for the future.”