Accelerus helps save jobs
Accelerus has played an important role in the safeguarding of jobs at a Salford manufacturing plant which it helped save from collapse.
The team at Accelerus worked with administrators from FRP Advisory LLP to secure the sale of the troubled labelling machine manufacturer Harland Machine Systems to Accraply Europe Limited, part of the international Barry Wehmiller Group,
Russell Cash and Rajnesh Mittal, partners at FRP Advisory, were appointed on 26 July as joint administrators to Harland, the Salford based labelling machine manufacturer, and swiftly completed a sale of the on-going business to Accraply ensuring a continuity of trading and securing employment for the staff of this 44 year-old business.
The Salford based business is a manufacturer of bespoke labelling equipment for use in high volume production lines. Its dedication to product development and unparalleled range of machines resulted in them counting multinational household names as their customer base, operating across a broad range of sectors including pharmaceutical, hygiene and food and beverage.
Harland reported a turnover of £12m in its most recent accounts and employs 70 people. The Company had faced recent difficulties leading to unsustainable pressure on cash-flow. This resulted in a need for the Company to seek the protection of administration in order to secure a more viable solution in the interests of all stakeholders.
Steve Benger, managing partner at Accelerus said: “ We provided support to Harland management and then worked closely with FRP, shareholders, management and other key stakeholders to identify and implement the most effective outcome.”
Russell Cash, joint administrator and partner at FRP Advisory, said: “We're delighted to have secured the future of this key North West manufacturing business, preserving jobs and providing a continuity of supply for its loyal
customer base. We wish Accraply and everyone involved in it every success
for the future.”
Seamus Lafferty, President of Accraply, commented: “We are delighted that we have acquired such a great brand with an impressive history and are confident we can support its future development. This acquisition supports our long term strategy of developing and expanding our presence in Europe.”