Dental group sold out of administration
A Manchester dental group has swooped to buy a rival out of administration.
Swift Dental Laboratory has acquired the assets of Bolton-based Alpha Zahn Ltd, which traded as Acodent Dental Laboratory.
Acodent, which employed 115 staff, announced it was closing on 1 October with the loss of all jobs at the business. The following day, Robert Adamson and Tim Askam from Mazars were appointed.
The administrators entered into a trading licence agreement with Swift, enabling Acodent to continue to trade while its future and viability were assessed.
The assets of Acodent were then purchased by a new company, which will become part of the Swift Dental Group, and will continue to trade as Acodent.
Swift, which employs 170 staff, is set to recruit for new roles at the acquired business.
Roy McGillivray, managing director at Swift Dental Laboratory, said: "We were pleased to be asked by Mazars to be involved in the assessment of Acodent, and furthermore to be a major supporter of the new company going forward."
Robert Adamson, joint administrator and partner in Mazars' business restructuring team, added: "The purchase of Acodent is great news for the business, its customers and the local community.
"We have worked closely with former staff at Acodent to help them claim redundancy payments and we are pleased that Swift will shortly be announcing job vacancies at the company."
Andrew Walker, restructuring partner at the Leeds office of Irwin Mitchell advised Mazars.