Update on Caparo Industries plc and its subsidiaries – collectively the “Caparo Industries Group" or “CIP” – in administration

Published at 10:13 AM on 23 November 2015

PwC is pleased to announce the sale of Caparo Wire in Wrexham to Rcapital.

This deal safeguards the jobs of 79 employees.

The business specialises in the manufacture of high quality galvanised and engineering steel wire. This can be used in a wide range of applications such as: bedding and seating; fasteners and screws; and spring wire for fencing and plating.

Robert Moran, partner at PwC, leading the Caparo sales process, said:

“The sale of Caparo Wire is another great result for the staff employed there and is the second deal to be completed, following the sale of Caparo Testing Technologies last week. We would like to thank all of the Caparo people involved for their dedicated support in securing this transaction.

"We continue in advanced discussions with parties relating to interest in other Caparo Industries Group companies."

 

ENDS

 

Notes to editors:

  1. Caparo Wire specialises in the manufacture of high quality Cold Heading, Bedding and Seating, Galvanised and Engineering steel wire, special fasteners, screws, structural bolts and rivets
  2. Partners and directors from PwC were appointed as administrators to 16 companies in the Caparo Industries Group on 19 October.
  1. The Caparo Industries Group comprises a Midlands and London headquartered diversified industrial group involved in the forging and pressing of metal products for aerospace, automotive and other industries; as well as the production of fastenings, wire, tubes and other products.

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

 

                PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

 

©2015 PwC. All rights reserved


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About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. © 2016 PwC. All rights reserved

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