Jobs saved after long standing Hampshire business is sold

Southampton based business Supertracker Limited, that specialised in the manufacturing, supply and maintenance of wheel alignment equipment to garages across the UK and overseas, has been sold to Straightset Ltd after it fell into administration. Supertracker had traded for over 30 years, and had built a strong reputation, providing equipment and services to national companies such as Kwik-Fit, Formula One Autocentres and National Tyres.

Following a marketing exercise, a number of interested parties entered into discussions with Hampshire based business recovery experts Portland Leonard Curtis with regards to a purchase of the business. Once Portland Leonard Curtis had an agreed sales contract in place with the purchaser, the business was formally placed into administration, shortly after which the sale of the business and all assets was completed. All 12 employee jobs were saved and transferred to the purchaser. As a result of the business sale, Portland Leonard Curtis will be able to pay creditors an amount that will be much higher than originally anticipated if the business had closed down.

Stewart Goldsmith, Associate Director at Portland Leonard Curtis, said the following:

“Despite being in business for 3 decades, with consistent sales and profit, Supertracker had no choice but to seek a buyer for the business. Staffing issues combined with the fact that the director wanted to retire, and did not have a senior management team in place to take over, left him in the unfortunate position of having a successful business he was no longer able to effectively operate.”

supertracker sold

Independent professional agents, Lambert Smith Hampton (‘LSH’), were instructed mid-February. Following an extensive marketing campaign, an agreement of sale was finalised by Portland Leonard Curtis with Straightset Ltd, an independent family business providing garage equipment supply, installation and servicing for car and commercial workshops for over 30 years.

Stewart continued:

“After considering all offers and carrying out the relevant due diligence, we were able to finalise a sale for Supertracker which would leave all parties in the strongest position possible and will ultimately ensure that creditors receive a return from the proceeds of sale.  As part of the sale and administration, and in partnership with LSH, we were able to sell the business and the physical assets of the company which included stock, vans, plant and equipment to Straightset Ltd. This was a complex case that had lots of moving parts. Had a sale not been secured, a number of well-known companies, who relied on the technology and service that Supertracker offered, would have been severely impacted. We are pleased we were able to reach a more than satisfactory outcome which keeps the supply chain within this industry moving and will not have a knock-on effect on companies and customers.”

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