Sixteen jobs have been saved after a rescue deal was agreed at Huddersfield-based engineering business Highfield Gear Industries.
Andrew Andronikou and Paul Zalkin of Quantuma were appointed administrators to Highfield Gear Industries on Monday 14 May after the company hit financial problems.
They succeeded in selling the company to Yorkshire Engineering Services 24/7 Ltd on 31 May, with all jobs transferred with the business.
Mr Andronikou, a partner at Quantuma, said: “Changes in the business at Highfield Gear Industries had led to rising overheads and resulted in cashflow problems.
“We had approaches from a number of interested parties and were pleased to quickly achieve a sale of the business as a going concern, with all 16 jobs saved.”
Highfield Gear Industries was originally established in 1927, with the latest version of the business trading since 2016 from Nile Street, Huddersfield.
The company manufactures gearboxes, gears and related parts, undertakes repairs and holds spares, and its most recently reported financial year it had a turnover of £1.6 million.