Preston-based Atlas Clean Air Limited has bought elements of the trade and assets of Mach-Aire Limited, one of the UK’s leading controlled environment specialists.
Atlas will maintain the acquired Mach-Aire business as an independent trading subsidiary at its Preston head office, ensuring continuity of service for Mach-Aire’s loyal customers.
FRP Advisory partners Tom MacLennan and Ben Woolrych were appointed joint administrators to Bolton-based Mach-Aire on February 20.
The joint administrators received a number of approaches from interested parties.
They said that, in Atlas, they found what was considered the best solution for the company and its creditors.
This transaction follows Atlas’ previous successful acquisitions of the trade and assets of Clean Modules Limited and T Jolly Services (UK) Limited.
Ben Woolrych, joint administrator and partner at FRP Advisory, said: “The sale to Atlas provides the best solution for the creditors of Mach-Aire Limited, ensuring the brand can trade under the new ownership of an established, successful Lancashire-based firm and ensuring the loyal customers continue to receive the service and support they deserve.”
He added; “The administration process enabled discussions with competitors and other interested parties with a view to achieving a sale of the assets.
“We would like to thank all of Mach-Aire’s stakeholders for their support during this process and wish Atlas continued success for the future.”
Paul Riley, managing director of Atlas said: “This latest acquisition is very much in line with our growth strategy and we shall ensure continuing support for the well-established Mach-Aire client base.
“The business has an enviable name for quality and reliability and our focus will be on retaining and developing those vital client relationships.”
Long-established Mach-Aire went into administration with the loss of 70 jobs. The firm, based in Bridge Street in Horwich, ceased trading last month with all full and part time staff made redundant.