A Farnborough operator specialising in IT relocation projects has entered into a pre-pack deal after falling into administration, saving 59 jobs.
Sunspeed Transport Services had been trading for 37 years before FRP Advisory took control of its affairs on 23 August.
Company chief executive Kim Lewin told Motor Transport the business was growing and it had invested in new equipment and lorries in anticipation of servicing new contracts, but unforeseen delays put the company in “a cash bind” which forced it into administration.
However, Lewin said: “I know quite a lot of venture capitalists and investors. I talked to one I knew and he said, ’that looks interesting, we can take that a long way.’
“They invested and we are now going forward with it.”
He added that the investment meant there had been no redundancies and all staff had been TUPEd across to a new business called AJ Galaxy.
The company, which holds an international operator licence for 20 HGVs running out of two bases in Farnborough and Bracknell and undertakes work for Disney, Amazon and Oracle, markets itself as supporting “the entire physical IT lifecycle”.
Its website said it offers a variety of storage options, has a 15,000sq ft warehouse in Bracknell and offers final-mile technical logistics.
Lewin said: “One of the things that is bread and butter to us is that manufacturers will come to us and we will do their final-mile deliveries. They don’t have the engineers we have to deal with it and they can’t get into the loading docks and so on.”
He added that its new backers were interested in significant growth: “We are larger now and we have the infrastructure.
“If someone wants two 26-tonne lorries in two weeks’ time, we can make that happen. The level of risk is less because we have already bought all the stuff.”
FRP declined to comment.
