A north-east manufacturing and distribution firm, The Peart
Group, has acquired the goodwill and assets of Cannock Gates’
gates business for an undisclosed sum. This is not the first time
the business has failed having undergone a management buyout in
2004. Freddie Peart, group managing director of the Peart Group,
commented, “We shall be focusing exclusively on the core
products and reinforcing Cannock’s position as the largest direct
manufacturer of gates in Britain.” He added that the
acquisition has opened up a new sales avenue for the group which
currently supplies to the trade and does not have a B2C presence.
The Peart Group has retained Cannock Gates’ sales manager, Julie
Turnbull, as well as production supervisors. It intends to
continue trading the business as a direct selling operation and
has saved almost 50 jobs at the manufacturing plant located in
Cannock, Staffs. “The company has a highly experienced
workforce and we are delighted with their immediate support,
energy and enthusiasm,” said Colin Stead of the Peart Group
and newly appointed managing director of Cannock Gates. There is
good news for customers who were collectively set to lose in
excess of £150,000 of unfulfilled gate orders which they had
paid for prior to the administration. “We can reassure
these customers that they shall receive their gates at no
additional cost,” explained Stead.
Peart confirmed that the acquisition did not include Cannock
Gates’ Garden Factory mail order business which is still up for
sale.
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