Toolspec Manufacturing Company Limited (08453720): administration
- Status
- Administration ended
- Administration began
- 2019-09-23
- Administrators
- Mark Granville Firmin, Paul Andrew Flint
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Bowman Blue Limited
- Incorporated
- 2013-03-20
- Location
- Brighton
- Industry
- 25620 Machining
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated and started to trade on 20 March 2013, initially as Bowman Blue Limited, but with a subsequent name change to Toolspec Manufacturing Company Limited on 17 April 2013. The Company was established to purchase certain business and assets of Metairax Specialist Applications Limited, which itseif was placed into Administration on 2 April 2013.
The business of the Company was founded as a tool maker but subsequently evolved in line with customer requirements to become an industry leading specialist in tubular manipulation and complex welded assemblies. It had 73 employees and operated from leasehold premises in Luton.
In 2017, the Company was strategically acquired by Specialist Engineering Group Limited, which in tum is owned by Cable Capital Partners
Administrators' statement of proposals (2019-10-22) · Companies House register