Scottish furniture manufacturer Kelvin KBB has been acquired out of administration by its managers in a pre-pack administration. The deal safeguards 58 jobs.
The Cumbernauld-based company manufactures kitchen, bedroom and bathroom furniture, supplying almost exclusively to the new-build housing market across Britain.
Alvarez & Marsal secured the sale of the b company and its assets to a newly-formed company, AMJ, trading as Arria Furniture Group, owned by the management team.
The transaction enables the business to continue trading without disruption, providing continuity for its customers, employees and suppliers.
It was handled by Ben Cairns and Michael Magnay of A&M. Kevin Lamb, senior director at A&M, who helped lead the transaction, said: “Having conducted a competitive sale process, we concluded that this transaction represented the best available outcome for the company’s stakeholders.
“It ensures continuity for customers and provides the business with a stable platform for the future.”
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