{"id":28840,"date":"2016-11-22T14:46:27","date_gmt":"2016-11-22T14:46:27","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=28840"},"modified":"2016-11-22T14:46:27","modified_gmt":"2016-11-22T14:46:27","slug":"hewden-assets-bought-plant-firm-enters-administration","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/plant-equipment-supplies-news\/hewden-assets-bought-plant-firm-enters-administration\/28840\/","title":{"rendered":"Hewden assets bought by A-Plant as the firm enters administration"},"content":{"rendered":"<h2>Three divisions have been bought by Ashtead Plant Hire Company as the Hewden Group enters into administration<\/h2>\n<p><a href=\"http:\/\/www.aplant.com\/\" target=\"_blank\">Ashtead Plant Hire Company<\/a> has purchased some of the Hewden Group\u2019s assets, it has emerged.<\/p>\n<p>Over the weekend it was revealed <a href=\"https:\/\/www.pbctoday.co.uk\/news\/plant-equipment-supplies-news\/plant-hire-firm-hewden-blames-brexit\/28778\" target=\"_blank\">Hewden was facing the administrators<\/a> as the firm failed to find investors. <a href=\"https:\/\/www2.deloitte.com\/uk\/en.html\" target=\"_blank\">Deloitte<\/a> had been working with the group to refinance or sell the business to cover \u00a3190m of borrowings. However, these efforts failed and administrator EY was appointed today.<\/p>\n<h3>More than 200 job losses<\/h3>\n<p><a href=\"http:\/\/www.ey.com\/uk\/en\/home\" target=\"_blank\">EY<\/a> said it expects 251 jobs will be lost at the firm but some 133 staff members will transfer to Ashtead as part of the buyout process of certain assets.<\/p>\n<p>A-Plant has purchased three divisions of the Hewden Group for \u00a329m. This includes the access and power generation assets, the onsite plant business, and the businesses and assets of Interlift.<\/p>\n<p>Sam Woodward and Colin Dempster, of EY\u2019s restructuring team were appointed as joint administrators of Hewden businesses: Hewden Stuart; Hewden Properties; Interlift; and The Rigging House.<\/p>\n<p>Woodward said: \u201cIt is with regret that 251 people have been made redundant.<\/p>\n<p>\u201cOur specialist team will work with those affected to help them claim outstanding wages and other payments due from the Redundancy Payments Office.\u201d<\/p>\n<h3>Challenges in the way of reshaping the business<\/h3>\n<p>He added that attempts to \u201coperationally reshape\u201d the business had \u201cproved challenging with the group\u2019s capital structure and the recent trading environment.\u201d<\/p>\n<p>He added: \u201cManagement recently undertook a number of initiatives including approaching new funders and potential acquirers to recapitalise the business, but unfortunately these efforts proved unsuccessful.\u201d<\/p>\n<p>A-Plant chief executive Sat Dhaiwal said: \u201cThis acquisition significantly enhances A-Plant\u2019s offering in the industrial sector where we have been keen to develop our capabilities for some time.<\/p>\n<p>\u201cWe are pleased to be taking over a number of important onsite depots at major petrochemical facilities and will ensure a high level of service is maintained for all customers through the integration process.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Three divisions have been bought by Ashtead Plant Hire Company as the Hewden Group enters into administration<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[308],"tags":[],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-28840","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-plant-equipment-supplies-news"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hewden assets bought by A-Plant as the firm enters administration<\/title>\n<meta name=\"description\" content=\"Three divisions have been bought by Ashtead Plant Hire Company as the Hewden Group enters into administration, it has emerged\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/plant-equipment-supplies-news\/hewden-assets-bought-plant-firm-enters-administration\/28840\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hewden assets bought by A-Plant as the firm enters administration\" \/>\n<meta property=\"og:description\" content=\"Three divisions have been bought by Ashtead Plant Hire Company as the Hewden Group enters into administration, it has emerged\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/plant-equipment-supplies-news\/hewden-assets-bought-plant-firm-enters-administration\/28840\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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