Lintel and building product manufacturer Expamet has been acquired by rival Birtley Building Products Ltd in a ‘pre-pack’ administration deal.
Expamet was acquired from the Royal Bank of Scotland in 2007 and has since been broadening its product range, cutting costs and repaying debt. However, as the recession deepened, it became clear that the working capital required to sustain the company’s strategic and operational plans would not be available from existing sources.
The Expamet management team will remain in place under the direction of Nigel Dickinson with Graeme Miller, Birtley’s managing directo, taking overall responsibility for the Birtley and Expamet businesses.
The telephone, fax and e-mail addresses for Expamet remain the same.
Miller and Dickinson said in a statement: “We are excited about the future and believe that the joint resources, products and brands will be a significant force in the market and will offer real benefits to our valued customers.”