Successful co-ordination of G&M Power Plant Ltd sale, retaining workforce and enhancing dividends for creditors.
We were initially instructed by administrators to undertake a valuation of the business and assets comprising G&M Power Plant Limited, including leasehold properties, plant and equipment, vehicles, stock and work-in-progress, plus intangible assets of intellectual property, order book and goodwill. Established in 1938, the company is a niche supplier of power generators involved in all phases of development, from design and manufacture, to testing and installation for a range of sectors including marine, industrial and military. Once joint administrators were appointed, we were asked to run an intensive marketing campaign, utilising our extensive database of contacts to identify interested parties in the sale of the business and its assets. Following a process of negotiation, a high level offer was received and, with our recommendation, accepted. The entire process was executed in a timely manner to preserve the business value, in particular that of the intangible assets. G&M Power Plant Limited was sold to TEX Holdings PLC in August 2015, with a much higher realisation than if the assets had been sold individually.