The joint administrators of Armadilla have sold the business and its assets to Hoffbauer Holding.
Interpath Advisory was appointed joint administrators to Armadilla on 20 December.
Based in Bonnyrigg, the company specialises in the design, manufacture and delivery of sustainable modular accommodation, in particular to clients across the education, leisure and wellness sectors.
Following a competitive sales process, a deal was agreed with the subsidiary of a German-based company on 23 February. It includes all of the assets, including the Armdilla name, design rights and trademark.
Blair Nimmo, chief executive of Interpath Advisory and joint administrator, said: “The competitive nature of the sales process is testament to the product design, quality of workmanship, strong forward order book and dedicated management team at Armadilla.”
Alistair McAlinden, managing director and joint administrator, added: “We understand that Hoffbauer is in the process of securing larger premises in the Midlothian area, and in time, intends to scale up production.”
Jens Hoffbauer, founder of Hoffbauer, said: “The strength of the Armadilla brand, coupled with its innovative product design, makes me confident that we can work with our customers to help deliver future success for the business.
“We’ve already begun taking orders, and we look forward to supporting the local economy as we scale up production in the months ahead.”
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