Following the appointment of Administrators from Hart Shaw, the business of Chesterfield based outdoor play equipment manufacturer Timberline Ltd has been sold to Metalliform Holdings Ltd.
Timberline, which operates nationwide, also manufactures timber buildings & shelters from its two large factories on the Foxwood Industrial Park, at Sheepbridge, and it has been trading for over 20 years.
The Company suffered a severe down turn in business as a result of the impact of the public sector spending cuts in the education market.
It was placed into Administration on November 2, 2011, and Christopher Brown & Andrew Maybery, partners at Hart Shaw LLP, in Sheffield, were appointed its Joint Administrators.
Metalliform, an experienced school furniture and stadium seating manufacturer based in Barnsley, are ideally positioned to turn the business round whilst also introducing new options into the product range.
Joint Administrator, Christopher Brown of Hart Shaw LLP, said: “Following our appointment we continued to trade the business while we marketed it for sale.
“We are delighted that the sale of the business is now complete. This is a fantastic outcome for all stakeholders, employees and creditors of the business and the acquisition by Metalliform has saved 45 jobs.”
The Joint Administrators received support from the Corporate Finance team at Hart Shaw. Steve Bell, Head of Hart Shaw Corporate Finance, said: “The underlying business of Timberline has strong brand recognition and we attracted a high level of reputable companies looking to secure the business.
“The nature of the administration was such that we had to react very quickly and were able to prepare the information pack and arrange site visits shortly after appointment with the result that the sale was completed within 6 weeks.”
Metalliform has manufactured furniture for schools, colleges and universities for more than 60-years.
The company employs 90 staff at its Barnsley production site and has a turnover of £8m.
Peter Brier, Chief Executive of Metalliform Holdings, said: “Timberline is a business that has a good customer base and a skilled workforce.
“We are very pleased to have concluded this deal quickly as this presented the best chance to preserve jobs.
“There are good synergies between the two businesses in terms of operating markets and manufacturing capabilities. We plan to use these to the benefit of both businesses.”
In addition to school furniture, Metalliform also manufactures and installs sports stadium seats through its subsidiary company Arena Stadium Seating.