T.O.M. Group Limited (SC371327): administration
- Status
- Administration ended
- Administration began
- 2018-03-28
- Administrators
- Fiona Livingstone Taylor, Colin Peter Dempster
- Administrators' firm
- EY
- Formerly
- T.O.M. Vehicle Rental Limited; T.O.M. Vehicle Rentals Limited; Pacific Shelf 1602 Limited
- Incorporated
- 2010-01-18
- Location
- Glasgow
- Industry
- 77110 Renting and leasing of cars and light motor vehicles
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Group was a leading provider of commercial vehicle hire, sales and services across hire locations in Scotland and Engfand.
The Group's head office was in Airdrie (near Glasgow) where the business was initially established around 20 years ago. Equistone Private Equity ((EPE') acquired a majority stake in T.O.M. Group Limited (‘TGL’) in December 2016, investing alongside management and the original co-founder and subsequently enabled the acquisition by TGL of the Transflex business in August 2017. The acquisition resulted in TGL becoming the third largest light commercial, flexible rental business by assets in the UK.
At the date of these Proposals, the Transflex business is not in any form of insolvency although a Notice of Intention to Appoint Administrators was lodged in Court on 29 March 2018.
Administrators' statement of proposals (2018-04-05) · Companies House register