Cambridgeshire-based lighting firm Isotera Limited has been sold out of Administration to agricultural technology specialist Greengage Lighting Limited.
Isotera, based in St Neots in Cambridgeshire, is a specialist lighting company which designs, configures and installs power and control systems for LED lighting. Its clients include construction and building services companies.
Damian Webb and Phillip Sykes of RSM Restructuring Advisory LLP were appointed Joint Administrators of Isotera Limited on 2 August 2017.
Prior to the administration the Administrators were engaged by the company in an accelerated sale process. Following the appointment of administrators the business was successfully sold to Greengage.
Greengage was founded in 2008 and is based at the Roslin Institute on the Edinburgh University campus. The company specialises in delivering innovative and applicable technologies to the farming sector, with an important focus on lighting as an essential part of the agricultural process.
Damian Webb, restructuring partner and one of the Joint Administrators said:
‘The sale to Greengage ensures the continuity of service for customers and has mitigated the position of key strategic creditors”.