A buyer has been secured for an at-risk glass manufacturer.
Martyn Rickels and Anthony Collier of FRP were appointed as joint administrators of Dewsbury-based double and triple glazing glass unit manufacturer Oakland Glass on 9th October 2024. The firm had fallen into difficulty after a challenging trading period.
However, following an accelerated sale process, a deal to purchase the company as a going concern has been agreed with Clayton Glass Limited.
The agreement sees all 110 of Oakland’s staff members transferred to the new owner through the TUPE process. Clayton Glass has also acquired all of the £11m-turnover firm’s unencumbered fixed assets, stock and intellectual property.
Martyn Rickels, partner at FRP, said: “Oakland Glass is not alone in having struggled in what is an increasingly challenging sector and we’re pleased to have found a path forward for the company.
“Clayton Glass has a solid track record in the industry, having produced glass units in the UK for three quarters of a century. We’re optimistic that the new owner has the experience, expertise and resources to put Oakland back on the path to growth.”
Ryan Green, Director at Clayton Glass, said: “This deal is the best outcome for both parties – it enables us to expand our glass manufacturing capacity and provide security for Oakland’s 100 plus employees. We’re excited to welcome them to the Clayton Glass family.”
Shoosmiths LLP provided legal counsel to the administrators during the deal process and LCF Law acted for Clayton Glass.
