Last minute rescue package for Harkins & Anderson Limited
The business and assets of Harkins & Anderson Limited has been salvaged in a last minute rescue deal that has saved jobs and valuable customer contracts. Harkins & Anderson, a Scottish based company, provided bespoke software solutions for housing and financial systems. Kypera Limited purchased the business and assets from the Administrator for an undisclosed sum.
Ian Thompson, chairman of the Kypera Group, commented “we had recently set up a trading relationship with Harkins and Anderson for mutual benefit and we had some excellent business ideas and ventures to work on together in the future, both businesses complimented the others very well in terms of the products and services they provided. When we found out the company was in financial difficulties we were keen to do all we could to help save the business and its customers”.
Harrogate based commercial law firm Davidson Webber LLP acted for Kypera, and Walker Morris in Leeds acted for the administrator Mike Keinlen of Armstrong Watson.
Neil Large (corporate partner at Davidson Webber who lead the deal) commented “I named the transaction “Project Quick” - the administrator was appointed late one Thursday afternoon and we completed the following Wednesday – we had a window of 3 days to negotiate and agree the legal documents, do our due diligence, brief staff and organise resource and infrastructure on the ground in Glasgow, and most importantly get out and meet all the customers and clients to allay their fears and worries and to give them the reassurances they needed that they would not be left high and dry. They key was to act quickly and decisively.”
