Sandwell based clothing and protective equipment supplier Direct Corporate Clothing has bought Kent leisure products supplier Proteam out of administration.
Acting through its subsidiary Paroh Ltd, Direct Corporate Clothing saved 37 out of 41 jobs when they bought Proteam in an undisclosed deal secured through administrators at FRP Advisory.
The deal was handled by Jason Baker and Geoff Rowley, partners at restructuring and insolvency specialists FRP, who were appointed Joint Administrators to Proteam last month.
One of the UK’s leading designers, importers and distributors of leisure products for major retailers such as DIY stores and supermarkets, Proteam UK experienced serious liquidity problems after a major customer, Focus DIY, itself entered administration. The company continued to trade as a going concern until it was bought. Of the 41 staff employed at Proteam UK, the sale has saved 37 positions.
Mr Baker said: ” Trading the company for a month gave us enough time to find a buyer, and we received several expressions of interest in a well-known brand that is respected amongst its clients in the retail market.”
Sam Sohal, joint managing director of Direct Corporate Clothing, said: “The acquisition brings an exciting and popular business into our organisation. We look forward to continuing the great work of Proteam, by driving the retail sector forward with its innovative leisure products and high standards of customer service.”
Proteam UK began trading in 1991 and is based in Tonbridge, Kent. Direct Corporate Clothing, headquartered in Birmingham, supplies uniform clothing and personal protective equipment.