Ascendant Technologies Limited (04667267): administration
- Status
- Administration ended
- Administration began
- 2019-09-11
- Administrators
- Graham Stuart Wolloff, Mark Grahame Tailby
- Administrators' firm
- Lee Business Advisory
- Incorporated
- 2003-02-17
- Location
- Sileby
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
From the administrators' statement
The company was formed and incorporated in March 2003. Between 2003 and late 2008, the business developed and marketed its own product; and RFID tagging solution for tracking equipment called DOGTAGZ. We also ‘wholesale’ distributed TopWorx and Twistset limit switch boxes, in order to fund software development costs.
The DOGTAGZ product lacked traction in Oil & Gas (the original target market) but was very successful in Rail, Construction and Emergency Services sectors. The product range was sold late 2008 to 4H Solutions Ltd.
The Company was re-launched in 2009 as a specialist VAC for the Oil & Gas sector. The principal actuator vendor was Flowbus from Korea, which is a quality product, but not on many approved lists. Significant sales into Apache North Sea, AGIP Nigeria, SABIC, Acciona, Technicas Reunidas and Vopak/Morzine were achieved, mainly through Valve Companies.
Administrators' statement of proposals (2019-10-31) · Companies House register