Skilled jobs saved as collapsed Aberdeen inspection services firm taken over
Graham Smith and Iain Fraser of FRP Advisory were appointed joint administrators of Innospection in late August after the business suffered from “unsustainable cash flow problems”. The Aberdeen firm had been providing advanced inspection services and support of onshore and offshore assets.
The acquisition of the business by Warrington-based Sonomatic includes all assets, technology and intellectual property, including a range of top industry technology and tools. As a result of the deal, seven highly skilled jobs have been retained. Sonomatic said the takeover agreement would also significantly extend its range of technologies and tools.
Smith, joint administrator and director with FRP Advisory, said: “We are delighted to have secured the sale of the assets of Innospection and its range of leading industry technologies and systems to Sonomatic. It is particularly rewarding that several highly skilled jobs have also been saved and we wish Sonomatic every success with their development plans.”
Just recently, Michelle Elliot and Stuart Robb, partners with FRP Advisory, were appointed joint administrators of Livingston-based NRS UK, a construction and civil engineering services business that employed 47 staff. The £33 million-turnover business was said to have been hit by “spiralling supply chain costs”, magnified by severe losses stemming from fixed-price contracts. Those resulted in “unsustainable cash flow and financial problems”. The business ceased trading with immediate effect and 45 staff were made redundant with two retained to assist in the short term with the administration process.
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