Sheffield business turnaround specialist Wilson Field has saved all 17 jobs at a traffic management company after a pre-pack deal received the green light.
Crusader Hire (UK) Limited, which had been trading in Lincoln since 2005, was hit by a combination of a downturn in the economy and a need to seek a more appropriate funding package to meet the company’s financial needs.
Lisa Hogg and Rob Dymond from Wilson Field were appointed joint administrators on April 11.
The business, which provided traffic management solutions including traffic light hire, stop/go boards and gangs and road closures and diversions signs, has been acquired by the existing management team.
Crusader Traffic Limited acquired the business out of administration and will operate from the same HQ.
The total value of the deal is undisclosed but includes the business and the assets of the company based on Fleet Road Industrial Estate in Holbeach.