13 October 2023
RSM UK has achieved a sale of Hodgson Acoustics Company Ltd’s business to Wiltech Acoustics Ltd, saving the jobs of all 80 employees. Glen Carter and Phillip Sykes of RSM UK Restructuring Advisory LLP were appointed as joint administrators of Hodgson Acoustics Company Ltd on 20 September 2023.
Based in Leicestershire and with origins tracing back to 1890, Hodgson Acoustics operates in the industrial noise control and acoustic solutions sector, specialising in the design, manufacturing and installation of acoustic canopies. The company fell into administration due to capacity and efficiency issues which resulted in delays to ongoing orders and subsequent cashflow problems.
The sale is to Wiltech Acoustics Ltd, an associated company of WB Power Services Ltd, which specialises in providing critical power, maintenance and hire solutions to organisations including data centres, hospitals and military facilities. All 80 employees together with certain assets will transfer to Wiltech Acoustics, giving them full control over the manufacturing process and allowing them to offer top quality, bespoke acoustic solutions to businesses.
Glen Carter, Restructuring Advisory Director at RSM UK and joint administrator, said: ‘We are pleased that this sale has resulted in the continued employment of all staff and minimised disruption to key customers of the business. We are confident that the transaction has secured the best possible outcome for creditors given the circumstances and wish the purchaser all the best as they take the business forward.’