PKF Smith Cooper’s business recovery and restructuring team have secured a sale of the business and assets of Abiljo Excavator Services Limited, preserving the future of the business and all jobs.
Dean Nelson, head of business recovery and restructuring has overseen the pre-pack administration and sale of Abiljo Excavator Services Limited, a long-established Midlands-based manufacturer of excavator attachments. The transaction ensures the continuity of the business and the protection of all 19 employees.
Founded in 1979, Abiljo Excavator Services Limited is a family-owned business known for designing and manufacturing excavator buckets. However, in recent years, the company faced mounting financial pressures due to supply chain disruptions, cost volatility, and unpredictable order volumes following the COVID-19 pandemic.
Despite efforts to secure additional funding, the business experienced sustained trading losses, increasing arrears to HMRC and growing cash flow challenges.
Following a strategic review, an accelerated merger and acquisition process was initiated to preserve the business as a going concern. After a competitive bidding process and advice on the offers received from professional valuation agents, the highest offer was accepted from Abiljo Limited. Matthew and James Walker are the directors of Abiljo Limited, having been joined by a new investor in the company.
Dean Nelson said: “I am delighted with the outcome we have achieved for Abiljo Excavator Services Limited. It is incredibly rewarding to secure the future of a respected local business and safeguard the livelihoods of its dedicated workforce. We wish the new owners and the team every success moving forward.”
