The purchase of Precision Stone Ltd (in administration) from administrators at Kroll Advisory Limited safeguards 44 jobs.
The Weightmans’ team advising the purchaser was a national multi-disciplinary team consisting of Charles Boyne, insolvency and restructuring partner; Kiri Hutton, insolvency and restructuring principal associate; Kerry Waters, employment legal director; and Judy Lankester, real estate principal associate.
Natural Stone Surfaces Ltd is a leading supplier of bespoke granite, marble, quartz and semi-precious stone work surfaces throughout the UK, Ireland and Europe and has been trading for over two decades.
The purchaser’s previous background combined with Precision Stone’s expertise and success provides an exciting opportunity for the industry and will only enhance the provision and efficiency leading to further growth and advancement. The new business will be known as Precision Stone Surfaces Ltd going forwards.
The purchase meant that 44 jobs were safeguarded in Wolverhampton and Warwickshire.
Charles Boyne, Weightmans insolvency and restructuring partner, said:
“It was a pleasure working with the Natural Stone team on this transaction and it was a brilliant team effort to get this deal over the line in the short timescales.”
Dave Roy, a director of Natural Stone Surfaces, said of the Weightmans team:
“I would also like to thank all involved with the project. They have been a pleasure to work with.”
If you need guidance in purchasing a company in administration, contact our insolvency solicitors.
