Joint administrators reach agreement to sell Happich Profiles Limited

Deloitte, administrator to Happich Profiles Limited in Castle Bromwich, has announced the sale of the business for an undisclosed sum.The sale to EMKA Beschlagteile GmbH & Co. KG was completed on 30 September 2009, and the business will continue to operate from its Castle Bromwich site with all 37 employees transferring to the new company.

Happich Profiles Limited manufactures rubber extrusions and steel inserted products for commercial vehicles, including the bus, truck, agricultural and construction sectors.

Dominic Wong and Matt Cowlishaw, both from Deloitte’s Birmingham office, were appointed as Joint Administrators to Happich Profiles Limited and Happich Vehicle & Industrial Components Limited in August.

Dominic Wong, partner in the reorganisation services practice, said: “We are delighted to have successfully completed a transaction that preserves 37 jobs and a manufacturing business on this important site.

“Whilst we were confident that there would be interest in this business, we are pleased with how we were able to work with the administrator of Happich’s German parent company to achieve a fantastic result for UK creditors.”

The administrators are still seeking a buyer for Happich Vehicle & Industrial Components Limited, which sells components, parts, accessories and assemblies for the transport industry, principally for the bus and truck sector.

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