Dozens of jobs saved as historic Walsall manufacturer is bought out of administration

Chris Lewis and Diana Frangou of RSM UK Restructuring Advisory were appointed as administrators by the business on October 18.

It has been bought by a company controlled by Baaj Capital, which provides private debt and equity capital, and hands-on support to situational investments to the small and medium-sized and mid-markets.

Vale, which has its headquarters in Midland Road, makes products for the equestrian industry. It originaally dates from 1786.

As well as brushes it includes whips, saddles, bridles and horse rugs which are supplied to customers across the world.

The company had experienced a fall in demand following consolidation within the industry, as well as increased costs that it was unable to substantially reduce.

This led to cash pressures and creditor arrears which resulted in the directors taking the decision to seek a sale.

The new owners will maintain UK manufacturing at the company’s two main sites in Walsall and Cardigan, Wales.

Chris Lewis, restructuring advisory director at RSM, said: “We are delighted to secure the sale of the Vale Brothers business in a short time frame, following a marketing process that generated substantial interest. The restructuring has protected a significant number of jobs and improves the return to the company’s creditors. We would like to wish the purchaser the very best taking the business forward.”

Jas Singh, chiefr executive of Baaj Capital, said: “The acquisition of Vale Brothers marks a move forward in the widening of Baaj’s interests in both manufacturing and online marketing. We are confident that the Vale Brothers team can go from strength to strength, with new efficiencies and added funding. We are delighted with the professionalism of the team at RSM in concluding this transaction quickly and thus saving a UK heritage brand and many skilled jobs.”