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Ultraframe Buys Prefix Systems Out Of Administration
Administrators at Leonard Curtis have sold the group companies of Prefix Systems to Ultraframe. Prefix went administration on 9 January. About 51 jobs have...
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Clayton Place Found For Oakland
Oakland Glass, an IGU manufacturer, has been dragged out of administration and sold to Clayton Glass. The sale has saved all 110 jobs. Clayton Glass is the producer of SmartGlass amongst other brands.
Clayton Glass has operations in Scotland, the North-East (In Stanley near Consett), Blackburn, Canterbury and Huthwaite. It is expected that the Oakland premises in Dewsbury will continue to operate as a sixth site.
Clayton Glass is also a founder of the National Glass Group, an organisation made up of independent owner-operated glass supply companies.
Oakland Glass
Oakland Glass got into difficulties in tough trading conditions. FRP Advisory was called in.
Martyn Rickels and Anthony Collier of FRP were appointed as joint administrators on 9 October 2024. Following an accelerated sale process, a deal to purchase the company as a going concern was agreed with Clayton Glass. The agreement sees all 110 of Oakland’s staff members transferred to the new owner through the TUPE process (Transfer of Undertakings Protection of Employment regulations), meaning employees will retain their terms and conditions and pensions where applicable.
Clayton Glass has also acquired all of the £11m-turnover firm’s unencumbered fixed assets, stock and intellectual property.
Back to growth
Martyn Rickels says: “Oakland Glass is not alone in having struggled in what is an increasingly challenging sector and we’re pleased to have found a path forward for the company.
“Clayton Glass has a solid track record in the industry, having produced glass units in the UK for three quarters of a century. We’re optimistic that the new owner has the experience, expertise and resources to put Oakland back on the path to growth.”
Best outcome
Ryan Green, a director at Clayton Glass, says: “This deal is the best outcome for both parties – it enables us to expand our glass manufacturing capacity and provide security for Oakland’s 100-plus employees. We’re excited to welcome them to the Clayton Glass family.
“Furthermore, we are very grateful to see Tina Moorhouse return to the business as an ambassador, supporting Oakland’s valued customers and the wider the team.”
Moorhouse had been associated with Oakland Glass since the early 2020s.
Green adds: “Our reasoning for bringing Oakland Glass into the Clayton Family is because we have recognised the solid performance and service levels they are capable of and we believe that they will work well within, and as part of, our ongoing business model. We are now looking onwards and upwards as we continue to invest and build a strong future together.
Legal
Shoosmiths LLP provided legal counsel to the administrators during the deal process and LCF Law acted for Clayton Glass.
Energy surcharge
Green also told The Fabricator: “In recent weeks, both of our major glass suppliers took steps to rebase their calculations as regards the Energy Surcharge. Additional factors increased the complexity – but in effect they are both lowering the threshold at which it is charged.
”Whilst we don’t expect short term to increase our rate from its current level, it does send a strong signal. It means
that despite short-term energy market changes, over the next quarter, at least, our rates will likely remain unchanged.”
Picture: SmartGlass is a Clayton Glass brand for conservatory roofs, rooflights, windows and garden doors.
The Oakland Glass website stopped functioning as of 16 October 2024.
Article written by Cathryn Ellis
16th October 2024