Deal secures more than 500 jobs at manufacturer with Wolverhampton base

Fablink Group, UK-based manufacturer specialising in the production of metal pressings, operator cab assemblies, fuel and hydraulic tanks and complex structures, as well as ‘clean build’ of vehicle assemblies, has been acquired by Ensco 1 Limited, which will be known as Wharfside Industrials, and its subsidiaries.

Over the last two years, the Group – which has around 180 members of staff at the site in Wolverhampton – had 'suffered from a number of adverse events which cumulatively caused challenges to liquidity'.

The rescue deal brings together seven pre-pack transactions following the appointment of Chris Pole and Ryan Grant from Interpath Advisory as Joint Administrators.

The Joint Administrators were appointed to Fablink Limited, Fablink Tank Systems Limited, Streamline Panels and Assemblies Limited, Fablink Group Holdings Limited, Fablink Cab Systems Limited, Fablink Group Holdings Limited (FGHL) and Fablink Toolspec Limited.

However, the business and assets of the companies were immediately sold to the new Group, which trades across six sites in Wolverhampton, Evenwood, Luton, Durham, Brixworth and Northampton.

As a tier one supplier, Fablink has built a strong reputation in delivering comprehensive design and manufacturing solutions to some of the world’s largest OEMs within the automotive, truck, off-highway, power generation and material handling industries.

But it has faced issues more recently, including delays in the receipt of grant funding to support its relocation to a new site in Wolverhampton and the insolvency of one of its customers, which caused a significant bad debt.

The directors sought to explore the options available to the Group, including its sale, investment, refinance and restructuring options. All the Group’s 521 employees have transferred to the purchaser as part of the transactions.

Mr Pole, Managing Director at Interpath and Joint Administrator, said: “Fablink has built a strong reputation over the years for its cutting-edge technology and innovative manufacturing processes, but had faced a number of challenges in recent times that threatened the long-term future of the business.

"This outcome secures the future of the Fablink Group and safeguards employment for over 500 staff. We wish the team all the best as it forges a new future.”