The manhole cover and pipeline divisions of Casting Services Ltd have been purchased from administrators Leonard Curtis, after the business went into administration earlier this year.
The business had been around for 30 years, supplying municipal castings (manhole covers and gully grates), and ductile iron pipes and fittings to merchants.
Eighteen months ago, Casting Services Ltd opened a new valve division in Telford, which supplied specialist valve and actuation packages for use in the water industry. Unfortunately the market downturn, as well as overstocking issues, caused the business as a whole to struggle with cash flow and the administrators were brought in.
Now, business development director James Fulton, managing director Roger Fulton, accountant Gary Spelman and commercial director Martyn Hallworth have bought the manhole cover and pipeline divisions from the administrators, and will be keeping the company name as part of the agreement.
James Fulton said: "We have now gone back to doing what we do best, which is offering our merchants the best service levels in the industry. We aren't the biggest and we are sometimes not the cheapest but we specialise in direct-to-site deliveries and getting goods to site when they are needed, which is usually the next day.
"We also have levels of expertise that are unrivalled. We aren’t one those companies that works on catalogue or product numbers only. We work with customers to find out what they need, see if they can save money by doing things differently, then get the right products to site the next day."