Midlands-based Abiljo Excavator Services secures its future following pre-pack sale
The continuity of Abiljo Excavator Services has been secured following its pre-pack sale to current owners Matthew Walker and James Walker and an unnamed investor. That process was guided by PKF Smith Cooper.
Based in Burton-on-Trent, Abiljo Excavator Services designs and manufactures high-performance excavator buckets. The company, a family business founded in 1979, offers a wide range of digger buckets and attachments for excavators up to 100 tons, including buckets, grapples, pulverisers, and tilt grading buckets.
In recent years, the Midlands-based company faced mounting financial pressures due to supply chain disruptions, cost volatility, and unpredictable order volumes following the Covid-19 pandemic.
Despite efforts in secure additional funding, the business experienced sustained trading losses. With increasing arrears to HMRC and growing cash flow challenges, the company’s directors Matthew Walker and James Walker turned to PKF Smith Cooper for support. Together, they worked on a strategic review of options, which led to a pre-pack administration and sale process.
Pre-pack administration is an insolvency procedure where a company’s business and assets are sold to a buyer, often the existing directors, before an administrator is officially appointed. This process aims to quickly transfer a struggling company’s viable parts to a new entity, potentially saving jobs and preserving value.
That is exactly what happened at Abiljo Excavator Services. Abiljo Limited, a new entity owned by Matthew Walker and James Walker, acquired Abiljo Excavator Services, keeping the company afloat. Their acquisition was supported by an investor. The transaction ensures the continuity of the business and the protection of all 19 employees.
Commenting on PKF Smith Cooper’s role in the process, Dean Nelson, Head of Business Recovery and Restructuring, said: “I am delighted with the outcome we have achieved for Abiljo Excavator Services. It is incredibly rewarding to secure the future of a respected local business and safeguard the livelihoods of its dedicated workforce. We wish the new owners and the team every success moving forward.”
With operations in Derby, Nottingham, Birmingham, and Ashbourne, PKF Smith Cooper is the Midlands-based business of PKF.
