Finance Team advise administrators on rescue of 70 jobs at BurdonPrint news article
A team of lawyers from Walker Morris have advised administrators on the sale and rescue of the precision engineering business, Burdon, saving over 70 jobs in the process.
Burdon Limited provided precision engineering services to the industrial defence, automotive, aerospace and oil and gas industries from factory premises in Stokesley, North Yorkshire. The assets and business were acquired by Tyneside based Express Engineering for an undisclosed sum after the North Yorkshire firm went into administration. As part of the deal the entire 76-strong workforce and the business’ factory and manufacturing plant has been transferred to Express.
Michael Taylor, Finance Partner who led the team at Walker Morris said:
“It is particularly satisfying to be able to work on a deal such as this, knowing that it not only resulted in a successful completion but, more importantly, that it saved a significant number of jobs in a key manufacturing business.
We were able to pull out all the stops for our clients, working through the bank holiday weekend, to make sure that the transaction happened and that it happened quickly and effectively.”
The Walker Morris team advised administrators Hunter Kelly and Charles Young of Ernst and Young. The Team comprised partners Michael Taylor (Finance), Jeremy Moore (Real Estate), Andrew Rayment (Employment) and senior Associate Victoria Patterson (Finance) and Cameron Baloyi Rigby (Real Estate).