old

havelockInternational
Havelock is based at Kirkcaldy, Fife
Imperilled furniture maker and fit-out company Havelock Europa has been bought by Rcapital Partners, saving more than 300 jobs at the Scottish business.

 

The insolvent sale was brokered by PwC, the accountancy company, and "provides financial stability" to the Kirkcaldy, Fife business Rcapital said. The transaction was completed through newco Havelock International.


Turnaround investor Rcapital, based at Mayfair in London, describes itself as a provider of private investment, commercial expertise and hands-on support to transform and grow businesses.


Havelock Europa was listed on the Alternative Investors Market (AIM). It shares were recently suspended as it sought to resolve a funding crisis and later gained protection from creditor action after a notice of its intention to appoint administrators.


"Havelock’s management team will work in partnership with Rcapital to restructure and invest in the business," the shop-fitter's new owner said in a prepared statement.


"A key focus will be to ensure that all customer projects are completed in full, the delivery of innovative design, manufacturing and supply arrangements."


Related Stories
Contract furniture, fitout group Havelock Europa suspends shares after credit squeeze
Administration intent notice filed by £53m contract furniture outfit

To Read The Full Story: