Jobs saved as West Bromwich-based Vanguard VML Group sold
Thirty-one jobs have been saved at machine moving and installation specialists Vanguard VML Group following a sale to private equity firm Oxygen Partners.
Vanguard specialises in the movement and installation of machines across the UK and overseas, and operated from its four depots in West Bromwich, Bridgend, Gateshead and Doncaster.
The business entered administration as a result of cashflow pressures and was subsequently purchased by Oxygen Partners, in a deal which resulted in all 31 jobs being saved.
Its sites at the Varney Industrial Estate in West Bromwich and Gateshead will continue to trade, while its locations in Bridgend and Doncaster will be wound down.
Raj Mittal and Andrew Sheridan, partners at specialist business advisory firm FRP Advisory LLP, were appointed as joint administrators of Vanguard (2001) Limited trading as Vanguard VML Group on Friday.
Managing director of Vanguard, Mark Causier, said: “It’s great to have new investors to take the business forward at such a good time for us in our market.
"The complementary skills of the legacy business together with Oxygen’s wider strategic and financial expertise provide a great platform for our new business.”
Oxygen owner Steve Benger said: “We are excited about the prospects for the new company and look forward to working with the team going forward.”
Mr Mittal added: “We are delighted to have secured a deal which gives the business the support to continue to trade and service its customer base. The deal also ensures that jobs are secured across two of the key regions in which the business operates. We wish the team at Oxygen Partners and all the staff every success as they take the business forward.”
