Monday, January 30, 2012

News: Rotherham jobs saved in CTS deal


Rotherham-based cash machine installer Complete Technical Services (CTS) has been bought out of administration in a deal that will secure 57 jobs.

Lindsey Cooper and Russell Cash from accountancy firm Baker Tilly were appointed as joint administrators of the Hope Street firm on January 25.

They led the acquisition by New Wave ATM Installations, a subsidiary of UK cash machine operator, Bank Machine. Itself a part of the US company, Cardtronics.

Lindsey Cooper said: "CTS, which was established in 1996, had suffered in recent years from the effects of the maturing ATM market and, despite efforts to restructure its cost base, was issued with a winding up petition by HMRC in December.

"We are extremely pleased to have concluded the sale of the CTS business, preserving all 57 jobs and the associated experience and expertise held within this established business.

"CTS has an excellent reputation and it is because of this that it has been acquired by a company positioned to refocus and further develop its service and its people in line with the challenging requirements of the ATM market."

CTS website



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