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This month, Simone Hindmarch of Commercial Group…

The business and assets of a Deeside engineering company have been acquired, safeguarding the jobs of all staff.

Mike Dillon and Hilary Pascoe, the joint administrators from business rescue specialist Leonard Curtis, worked with directors at Sandycroft-based Fabricom Janus Neill Ltd to complete the sale of the business and assets to GEM Engineering & Maintenance Services Ltd, a company with common directors.

Fabricom Janus Neil is an engineering, management and construction business with expertise across all industry sectors including oil, gas, power, chemical and renewables.

The deal completed immediately following the appointment of joint administrators on 5 July and is set to maximise realisations from assets as well as mitigating creditor liabilities. The sale has also allowed all employees to transfer, preserving 22 jobs.

Derek Quayle, managing director of the new entity, which now trades as FJNGEM, said: "This transition allows the continued growth of both business activities as separate divisions, under one single brand.

"As well as an additional 25,000 sq ft workshop, the cost benefits, process working efficiencies, cross working, skills and training integration will add value to both divisions, and also benefit the existing clients of both companies.

"I am delighted to say that the same people will continue in existing roles, no positions are being made redundant, and all client 'points of contact' will remain the same."

Mike Dillon from Leonard Curtis said Fabricom Janus Neil had traded profitably immediately prior to the pandemic, following which the company had to enter into statutory working restrictions, which turned the successful operation into a loss-making one.

He said: "While directors managed to restore profitability once restrictions were lifted it was not enough to maintain its commitments to historic liabilities incurred. Being able to use the connected company, Gem Engineering, which was acquired in 2021, as a route for recovery, and to maintain and develop its trading offer into a stronger combined sell, is a satisfying result for all concerned."

Gem Engineering specialises in the manufacture, installation and repair of steel and stainless steel fabrications.

The combined entity will offer clients 'in-house' services such as machining services, guarding manufacture, structural steel fabrication, and paint coatings. These new services sit alongside the company's traditional heat exchanger, pipework, and vessel manufacturing provisions.

Fabricom Janus Neil / Gem Engineering / Leonard Curtis /

Stephen Farrell, Senior Digital Staff Writer T: 0844 980 0183 E: stephen.farrell@newsco.com

Michael Stachini, Professional & Financial Services Manager T: 0161 907 9747 E: michael.stachini@newsco.com

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