United Kingdom

Details

  • Service: Advisory
  • Type: Press release
  • Date: 12/07/2013

KPMG secures sale of QHA Realisations site in Colwyn Bay 

 

On 9 July 2013, KPMG’s Restructuring team completed the sale of QHA Realisations Limited’s Colwyn Bay manufacturing site to Mark Water Pumps Limited, a newly incorporated 100% subsidiary of Mark Exhaust Systems Limited, a joint venture with Suzuki Motors Corporation India.

 

Partners Paul Flint and David Costley-Wood were appointed Joint Administrators of QHA Realisations Limited and its parent company Klarius Group Limited on 7 February 2013.

 

As part of the sale of the Colwyn Bay site, 15 former QHA Realisations employees will be re-hired.

 

India-headquartered Mark Exhaust Systems Limited is a manufacturer and global supplier of automotive components, and counts Suzuki, Honda and Piaggio amongst its clients. Complementing Mark Exhaust Systems Limited’s existing manufacturing operations, the acquisition ensures the continued production of water pump systems for the original equipment market at the Colwyn Bay site.

 

Paul Flint, Joint Administrator and Restructuring Partner at KPMG, said: “Having extensively marketed the business to potential buyers for a number of weeks and maintained slimmed down operations to meet outstanding contracts, we are pleased to have secured a sale which confirms continued production at the site and 15 jobs in the local area.”

 

Following consultation with a number of QHA Realisations’ customers, short-term trading from the Colwyn Bay site recommenced on 18 March 2013.

 

- Ends -

 

The administration of Klarius Group Limited - additional information:

 

On 7 February 2013, Joint Administrators completed the sale of the Klarius emissions business based at Cheadle, Staffordshire to Klarius Products Limited, preserving 234 jobs. 

 

In addition, the intellectual property rights relating to the Quinton Hazell subsidiary business were sold to Tetrosyl I-Tec Limited, part of Tetrosyl Limited. This deal saw the remaining Quinton Hazell Automotive Limited company name changed to QHA Realisations Limited.

 

The Administrators made 42 redundancies at QHA Realisations Limited distribution division in Hinckley, Leicestershire and 117 redundancies at the company’s Glasson Dock site in Lancaster. Both ceased to operate.

 

A further 79 redundancies were made at QHA Realisations Limited’s Colwyn Bay site in North Wales.

 

For further information please contact:

 

Dave Lafferty, Citypress

Tel: 0161 235 0318 / 07545 211 511

Email: dave.lafferty@citypress.co.uk

 

KPMG Press office: 020 7694 8773

 

About KPMG

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

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