EP Realisations Limited (01678349): administration
- Status
- Administration ended
- Administration began
- 2012-09-03
- Administrators
- David Matthew Hammond, Stephen Andrew Ellis
- Administrators' firm
- PwC
- Formerly
- Enpure Limited; Purac Limited; Purac Rosewater Limited; Purac Limited; Water Management-Purac Limited; Arthurian Investments Limited
- Incorporated
- 1982-11-15
- Location
- Leeds
- Industry
- 36000 Water collection, treatment and supply
Why it went into administration
- Sustained trading losses
From the administrators' statement
EHLis a non-trading holding company Its subsidiary, EL was the trading entity and employed 160 staff providing project management services 1n the water and waste treatment industmes. EL had been undertaking projects in Dubai, Saudi Arabia, Republic of Ireland and the UK.
EL was incorporated in 1983 as Purac and designed water treatment plants until it was acquired by Anghan Water m 1993. Purac was combined with two other companies at this time and diversified its services to include water waste and sludge treatment. In 2006, Purac’s UK business was acquired by Spirit Capital (Aberdeen Asset Managers Ltd, later to become Spirit Capital Partners) and the management team of 5 directors, with 80% and 20% shareholdings respectively and EL was formed
The purchase was funded by 40% Senior Debt, 50% Loan Notes at 12% coupon and 10% Equity. The circumstances giving rise to the Administrators’ appointment Historical difficulties
Administrators' statement of proposals (2012-11-02) · Companies House register