All tasks saved as producer will be saved from administration

West Midlands specialist gas measurement equipment manufacturer George Wilson Industries (GWi) has been sold out of administration, protecting all 26 jobs.

Vantage Capital acquired the company and its assets and will now operate under the name George Wilson Metering.

In addition to producing high-quality domestic pressure regulators for the British energy market, GWi also provides services in the field of gas meter renovation, segregation and waste management.

The company, founded in 1878 and operating from its Coventry headquarters since 1904, has been placed into administration amid growing cash flow problems and increasing pressure from creditors in recent months.

Mark Malone and Gareth Prince, partners in the Birmingham business recovery office of Begbies Traynor, were appointed joint administrators on June 10 after working closely with the board and various stakeholders for several weeks to undertake an accelerated sale of the business and its assets.

Joint administrator and partner at Begbies Traynor, Mark Malone, said: “Having reviewed the financial position of the business, we have concluded that selling the business out of administration is a realistic option and will deliver the best outcomes for employees, suppliers and customers by securing service continuity.

“They are an established company with a good reputation and the level of interest received during the sales process has been encouraging. We are pleased to have secured a sale that protects all jobs and ensures the continued delivery of this vital product and service.”