Ainscough Group has picked up the remnants of Peterhead Crane Hire and its associate company RCPS (Crane Hire) after the Peterhead Group called in the receivers.
Peterhead Group gave up its battle against cash flow problems on 19 February and the receivers were called in to sell or shut down the crane businesses. The move came just weeks after Peterhead sold five Scottish depots, including one to Ainscough (Scottish disposals… Feb99, p9).
Ainscough moved quickly to take Peterhead’s four remaining depots in Newcastle, Immingham, Teesside and Nottingham and secure the jobs of the 85 affected employees.
It also takes ownership of some of Peterhead’s remaining 80 cranes, though some had to be returned to the finance houses that initially funded their purchase.
Ainscough managing director Martin Ainscough said the new depots “should strengthen us on the east coast”.
Joint receiver Roger Marsh of Pricewaterhouse Coopers said: “Although I initially feared that it might be necessary to close the crane hire business, I was encouraged by the support received and the interest of potential purchasers. Negotiations progressed quickly… As a consequence all the jobs have been saved and the business has survived.”
