Smith Partnership advise on Robinson's future

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Smith Partnership has recently advised Derby-based structural steel company, S. Robinson & Sons (Engineers) who recently completed a major investment transaction to secure its future and save local jobs after the company suffered from the effects of the dip in the construction industry

Robinsons, which was established in 1964 and employs 229 people at its headquarters in Wincanton Close, Derby, has been sold for an undisclosed sum, to RCapital, a turnaround investor with vast experience

Smith Partnership provided advice to the business back in August 2010 on the various options available, including the sale of the business and/or a solvent liquidation of the business. PWC was also appointed to undertake a strategic review of the business.

A marketing process was subsequently undertaken and Smith Partnership provided advice and support to the business during this time. A purchaser was found and Smith Partnership acted on behalf of the business in respect of that sale, including a pre sale restructure and reorganisation, and then upon the sale of the entire issued share capital of the business.

The Smith Partnership team was led by Rachel McCahill-Brown - Head of Insolvency, Fiona Boxwell - Head of Company and Commercial and Jo Backhouse - Partner in the Commercial Property team.

The sale has resulted in the business continuing to exist, and whilst redundancy consultations are ongoing with 50 employees out of 229 with an announcement on the workforce being expected later this month, up to 229 jobs have been saved.