Global valuation and corporate finance advisor Duff & Phelps has completed the sale of Petlon Polymers Ltd to UAE’s Vision Petlon Polymers Ltd, a subsidiary of Visionscape Group.
Petlon Polymers is a UK-based compounder and polymer recovery company specialising in engineering thermoplastics.
The company had experienced working capital difficulties in the lead up to administration following a change of ownership structure.
Geoffrey Bouchier and Matthew Ingram, managing directors at Duff & Phelps, were appointed joint administrators on 15 August 2017 and led the sale transaction and administration process.
The sale to Visionscape has saved the jobs of all staff, based at their facility in Lydney, Gloucestershire.
“The acquisition of the Petlon business is a complimentary addition to Visionscape’s global waste management solution as we continue to seek innovative and environmentally effective solutions for our customers,” said Harry Ackerman, executive director, Visionscape.
The sale transaction completed on 12 Sept.