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Universal Engineering Limited
Provided a fully managed exit, vacating all properties to specified deadlines, with the sale of intellectual property rights and a guaranteed realisation for the Administrator.
By The Numbers
over 1,500 auction lots
We valued all assets including CNC machine tools, stock, office equipment, and armoured vehicles and trailers to help the Administrator sell the business as a ‘going-concern’. Universal Engineering Limited was a long established company specialising in providing products and services to the defence industry. Unfortunately, the sale of the business as a whole, was unsuccessful, but we were able to assist the Administrator, Milsted Langdon, a firm of South West UK-based accountants with a strong regional presence, in the sale of part of the business and instructed to sell all remaining assets. Although the Administrator received strong offers from dealer auctioneers, our robust knowledge and expertise in the value of assets allowed us to provide a realisation guarantee, thus giving them comfort. We successfully marketed and sold the intellectual property rights relating to a military trailer and as well as marketing the sale of the armoured vehicles. We ensured that all properties were vacated by the specified deadlines and realisations achieved were over and above the client’s expectations.