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Sector |
Marine |
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Business description |
BM is a multidiscipline marine engineering services provider operating in the commercial marine, defence and superyacht sectors |
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Situation |
Difficult trading conditions and a shortfall in the Company’s working capital position - contributed to by a failure to secure the final payment due in regard to a recent major refit project - significantly affected the business and its ongoing viability. |
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BDO Role |
BDO was engaged to market the business for sale on an accelerated basis, given the pending insolvency of the business by its sponsor, RJD Partners. |
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Outcome |
Following an extensive sales process BDO delivered a sale of the business and assets at three of the trading locations – in Lowestoft, Avonmouth & Poole to Southampton Martine Services Limited via an administration sale. |