Hundreds of jobs have been saved at a group of bus and police car makers after they were rescued from administration.
Bolton’s WN Vtech Group, formerly known as Woodall Nicholson, and its subsidiaries went into administration in November after suffering “supply chain issues”. Daniel Smith and Julian Heathcote, of Teneo Financial Advisory continued to trade the companies as usual while they sought a buyer.
Today they confirmed that the majority of the group’s businesses had been sold to companies owned by Belgian industrialist Guido Dumarey - with more than 450 workers transferring across.
The companies saved are Rochdale manufacturer Mellor Bus, Brighouse-based bus builder Treka, Scarborough-based suppliers JM Engineering and Promech Solutions, and two specialist Westhoughton businesses - police vehicle maker VCS Police and funeral vehicle builder Coleman Milne.
Guido Dumarey owns the Dumarey Group, which operates several European automotive businesses including Punch Flybrid in Silverstone, Northamptonshire, and operations in Belgium, France, Italy and China. The group will employ some 3,000 people after this deal and is increasingly investing in hydrogen powertrain solutions.
Mr Dumarey said: “This is an exciting acquisition for us. The Woodall Nicholson businesses have a strong market position and a disruptive product portfolio, as is evident in their robust order book. We’re eager to collaborate with their talented teams to continue delivering innovative mobility solutions. This marks a significant step towards our commitment to shaping a future where environmentally conscious transportation is accessible to all.”
Joint administrator Daniel Smith, of Teneo, said: “We are delighted to have reached this agreement with Dumarey. The transaction has secured the transfer of over 450 jobs located across the North. We wish the business, its staff and its new owners every success in the future.”
