Deal of the month revealed
The sale of Derby-based Brettex Engineering which secured 24 jobs has been named as Insider's deal of the month in the East Midlands for July. Sam Metcalf, assistant editor at Midlands Business Insider says the deal is a welcome boost to Derby following the shock job losses at Bombardier and Egg.
"At a time when Derby needs all the help it can get, the news that 24 jobs have been saved at Brettex Engineering is a small piece of good news for the city," says Metcalf.
"What’s more," he says, "the jobs will stay in the city after Defabs Engineering took over Brettex. Excellent news and a sigh of relief all round."
Defabs Engineering purchased the business and its assets in a deal led by the recovery and insolvency team at Midlands accountant Smith Cooper.
Brettex, which formerly traded from Raynesway Park Industrial Estate, instructed Smith Cooper last month after experiencing financial difficulties when a time-to-pay agreement was rejected by the Crown.
Defabs' director David Jennings said: "I am delighted that the acquisition of the business and assets has been completed so quickly – ensuring the future viability of the Brettex business, protecting its valued customer base and more importantly securing the livelihood of 24 of its employees.
"Both companies have been trading for some time and have solid reputations in the fabrication and manufacturing industry. I believe that bringing together the expertise and experience of the workforces will give Defabs an even stronger presence in the market place."
Defabs Engineering was formed in 1979 and supplies equipment and process plant to the food, beverage and pharmaceutical industries.
Metcalf adds: “There's a lot of work for Derby to do after the double shock of Egg and Bombardier. Whilst this deal might not soften the blow of those thousands of jobs losses, it at least won't add to them. A small deal it might be, but it might also be seen as vital in the long term."
