Aberdeen-based Lofthus Signs and Engraving Limited has been sold out of administration to Manchester-based PFI Group.
Lofthus design and create bespoke signage for a range of businesses and following a difficult 18 months for the business, directors had to make the decision to enter Administration.
Paul Dounis and Lindsey Copper of RSM Restructuring Advisory LLP were appointed Joint Administrators on 27 September.
The deal safeguards 25 jobs in Aberdeen and ensures continuity of service for customers. The new business will continue to trade from the existing Lofthus premises on Whitemyres Avenue in the short term while the property is marketed for sale.
Darren McMurray, CEO at PFI Group, said: “Our acquisition of an established Aberdeen business is a great opportunity for PFI. The business will complement our portfolio, including SignsPlus, which will help us support more customers in the North East of Scotland.”
Kevin Lamb, restructuring director at RSM, said: “We are pleased to have completed this transaction within a tight timeframe, as it will see the Lofthus brand remain in the city and safeguard 25 local jobs. We wish Darren all the best for the future.”