Patrick Parsons Limited (02342309): administration
- Status
- Administration ended
- Administration began
- 2020-02-04
- Administrators
- Lyn L Vardy, Jonathan Charles Marston
- Administrators' firm
- Alvarez & Marsal
- Incorporated
- 1989-02-01
- Location
- Brighton
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Competition / price pressure
From the administrators' statement
Patrick Parsons Limited (the “Company”) was incorporated and began trading on 1 February 1989 as a firm of consulting engineers. At the date of our appointment, the Company operated from leasehold properties in both Newcastle and Huddersfield and employed 26 engineers in Newcastle and 13 engineers in Huddersfield.
The Company was acquired in 2017 by PPCE Holdings Limited ("PPCE”) a company owned by LDC VILP (“LDC”). The acquisition was part of a buy and build strategy, to consolidate a number of smaller consulting engineering businesses nationally into a larger, consolidated provider of multidisciplinary consultancy engineering services.
At the date of appointment, the Company was a wholly owned subsidiary of PPCE Group Limited (“PPCEG’) and together with its fellow subsidiaries (the “Group”), provided integrated engineering advisory services primarily in the UK.
Administrators' statement of proposals (2020-03-13) · Companies House register