A RESCUE deal has saved a dozen jobs at a North Yorkshire laboratory manufacturer – 10 years after the firm’s management buyout.
The sale of MSS Clean Technology, based in Sheriff Hutton, has been secured just over five weeks after the business went into administration.
The company has been purchased by Cheshire-based Environmental Engineering, securing the jobs of all 12 staff, including the management team.
MSS Clean Technology, established in 1982, specialises in the design, manufacture, installation and commissioning of laboratories, clean-rooms and controlled environments.
It operates worldwide and has a blue-chip client base within the pharmaceutical, biotech, healthcare and electronics sectors.
Up until 2003 the business was part of the Shepherd Building Group. It was then bought for an undisclosed sum by the management team, in a deal lead by former MSS commercial manager Paul Walters, who then became managing director. The buy-out was with the co-operation of Shepherd, which retained a 10 per cent stake.
Last month the business was placed in the hands of joint administrators Andy Clay and Rob Sadler of Begbies Traynor in York, and continued to trade while ongoing contracts were brought to completion and a buyer was sought for the business as a going concern.
On March 18, a sale was completed to a new company, IMCO (121014) Ltd, part of Environmental Engineering.
Established in 1991, Environmental Engineering has undergone significant growth. MSS will continue to trade under its original name.
Richard Asquith, chairman of Environmental Engineering, said: “Having worked together on major design and installation contracts in the past, we believe that Environmental Engineering and MSS have a good understanding of the respective strengths of one another and the acquisition provides a natural extension of both the capabilities and market position of the combined business.”